The equipment that keeps Corona's industrial side moving
Corona, incorporated in 1896 in Riverside County, is one of the most residential cities in the Inland Empire. Its north side is a different picture: a large industrial district where Fender builds guitars and amplifiers (including in its Custom Shop), Monster Beverage and Saleen keep headquarters, and companies such as TCL and Circle K have major offices. Around those names sits a layer of smaller businesses: machine shops, finishers, print and packaging firms, fleet maintenance yards, food producers and building trades.
Those smaller firms share one problem. The equipment that earns their revenue is expensive, wears out and occasionally fails at the worst time.
Common Corona equipment needs
| Business type | Typical equipment | What waiting costs |
|---|---|---|
| Machine and fabrication shops | CNC mills, lathes, press brakes, welders | Turned-down orders and outsourced work |
| Food and beverage producers | Mixers, fillers, walk-in refrigeration | Spoiled product, missed delivery windows |
| Contractors and landscapers | Skid steers, trailers, work trucks | Rental fees that never build ownership |
| Print, sign and packaging firms | Large-format printers, cutters, laminators | Jobs sent to a competitor |
| Auto and fleet service | Lifts, diagnostic tools, compressors | Bays that sit empty |
Finance it or pay cash?
Paying cash for a machine looks cheaper on paper. The hidden cost is what that cash can no longer do: cover payroll in a slow month, buy materials for a big order, absorb a late customer payment. Financing spreads the cost over the period the machine is producing revenue.
For illustration only. A Corona fabricator buys a $120,000 press brake that lets it take bending work it currently outsources at about $9,000 a month. Paying cash would leave the shop thin for months. Financing the machine means the outsourcing savings help cover the payment while the operating account stays intact. If the machine would sit idle half the week, the math changes; finance equipment you will actually keep busy.
What the review looks at
- About three months of business bank statements. No tax returns required.
- A soft credit pull. FICO 500+ is considered, and you can read how weaker-credit files are reviewed in Corona.
- Funding from $25,000 to $5,000,000, with approved files funded in as little as 24 hours.
- A 5-minute application. Sole proprietors can apply.
For working capital, credit lines and other structures, see Corona business funding.