2009-08-04 - Cold Jet and Huntington Bank Partner to Provide Custom Finance Options
Partnership provides companies and cleaning contractors with one-on-one financial consultation in regards to balance sheet treatment, tax savings, cash flow, equipment obsolescence and financing costs
CINCINNATI - August 4, 2009 - Cold Jet, LLC today announced a partnership with Huntington Bank to deliver customized financing options for the company's dry ice blast cleaning and production systems. Cold Jet helps companies determine which blasting system is best suited for their cleaning applications and which production system will meet their dry ice needs. As a result of the partnership, Cold Jet's North American customers now have the option to lease the systems through the experts from Huntington Equipment Finance, which provides financial consultations in regards to balance sheet treatment, tax savings, cash flow, equipment obsolescence and financing costs.
Leasing through Huntington will help companies avoid technological obsolescence while allowing them to preserve existing credit lines and use operating funds instead of capital. The leasing options can include extended warranties and service plans, and match benefits to costs, which allows companies to pay as they use equipment. Huntington offers low rates on both Operating leases and capital programs up to $1 million in value for 12 to 60 month terms.
"Perhaps the most exciting aspect of this partnership is that we are making financing options available to our customers during a time when financing is very difficult to find," said Brian Allen, vice president of sales for Cold Jet. "Even during these difficult economic conditions, companies are still making investments, and we are excited to have found a trusted financial partner that will work with our customers on a one-to-one basis. We have worked with Huntington to ensure the lowest monthly payment, and negotiated flexible lease options that allow customers to either own our systems at the end of the lease terms or have the option to return the equipment, purchase it at fair market value or continue to lease."
"We are excited about partnering with Cold Jet," stated Rob Allanson, president of Huntington Equipment Finance. "Our goal will be to provide its customers with access to customized and flexible financing and leasing options."
Cold Jet's family of dry ice blasting systems includes the Aero Series, designed to provide mobile, efficient, economical and environmentally responsible support for the most difficult cleaning challenges, and the i3MicroClean for precision and controlled environment applications. The company's fully automated production (pelletizer) systems are being used by every major gas company in the world and have been specially engineered to produce the highest density extruded dry ice available. Cold Jet's dry ice has a longer shelf life, offers better transportability, and delivers better blasting aggression.
The credit application process takes as little as 24 hours, and includes easy-to-read, one-page lease documentation. Companies interested in learning more about the leasing options through Huntington can visit http://www.coldjet.com/en/company/leasing.php or contact Cold Jet at 1-800-337-9423.
About Cold Jet
Since 1986, Cold Jet has developed innovative, environmentally responsible cleaning solutions that help companies reduce maintenance costs, enhance product quality, prolong equipment life, and improve productivity and worker safety. Cold Jet's extensive line of dry ice blasting systems are used around the world in a variety of industries, making productive use of recycled carbon dioxide while eliminating the need for chemicals and water in the cleaning process. In addition to its dry ice-based cleaning systems, the company's dry ice production equipment is used by every major gas company worldwide to produce the highest density dry ice available. Cold Jet is a private company with global headquarters in Loveland, Ohio and international operations in Europe, Asia, Middle East, Canada and Mexico. For more information, visit www.coldjet.com or call 1-800-337-9423.