With the gradual unlocking of the hospitality industry set to roll into summer, ITW’s Leasing and Finance Division has pledged to extend the 3-month payment holiday on its 12 and 24-month interest-free credit offer to 30 June 2021, helping address a ‘pent-up’ requirement from operators for new equipment, built during successive lockdowns.
The division, formed last year and offering cooking, warewash and food prep products from Hobart Equipment Division, refrigeration from Foster Refrigerator and software and scales from Avery Berkel, has made the move following feedback from the industry-at-large.
Tim Bender, sales director, Hobart Equipment Division said: “There is no doubt that once the industry starts to re-open there will be a huge pent-up demand for equipment.
“This may be planned expenditure that was put on hold or perhaps a stress purchases because equipment has failed during lockdown. If it’s the latter example – as we feel in many instances, it may well be – then there is a case for industry partners such as ITW stepping up to support both end users and our dealer partners with the perfect selling solution.”
As packages have a 99% rate of approval – ITW is the lender, not a broker – dealers can use this as a tool to help potentially cash strapped end users bounce back.
ITW’s finance is open to any hospitality business and has already seen operators achieve the highest spec equipment desired, without the initial outlay.