[cncadmin]

Very nice work!

[joeybagadonuts]

Jid2,

Place the dough in a plain paper bag and leave it in the mailbox. The crew will be over later for there cut.
Live from downtown Burbank, home of the doughnut bandit.

JoeyB

[jid2]

Making some strategic improvements to organization and garage awesomeness. New tool box for holding machine related tools, with Lista organization inserts for drills, taps, and endmills.







Spent the weekend cleaning the garage cement and then epoxy coating.

[Analias]

That corner being empty looks so wrong.

Sent from my Xoom using Tapatalk

[BTP]

Organization is key. It allows you to work way more efficiently. Where did you pick up the organizers?

[jid2]

Lista drawer organization is here: LISTA Drawer Accessories

The corner will be filled again soon. The new 7.5HP Kaeser Airtower screw compressor will be here Friday.

[diyengineer]

Oh that's going to be a SWEET garage setup! Jealous!


Washington state

[jid2]

Just need to wire and plumb.

[BTP]

If you don't mind sharing, and maybe you already did, but how much did that run you? I've always been intrigued by how quite those screw compressors are.

[jid2]

The 7.5 hp Airtower, with a single phase motor is about $8K.

[jid2]

^^^ reviewed my final bill, compressor was actually $7,200.

New machine is in process of being ordered. Haven't heard from the guys who bought the PM45, which I take as a good sign it's up and running for them.

[rlockwood]

New machine is in process of being ordered.

I'm hopeful that you'll share some of that process; things like what the financier (assuming you're not sitting on a pile of cash) wanted to see, etc.. I'm always a bit apprehensive to find that stuff out on my own.

[jid2]

The whole process has been a great learning experience. It went roughly like this:


- Business/Personal info: Business is older than 3 years (which you need to be seen as viable), I have perfect credit, no debt, business is currently small under $30k a year, I have a good paying day job, no pile of money just a typical amount in savings - econocar, and no desire from my wife to spend it all.

- Talked to my local Credit Union (BECU) with whom I have a personal and business account. Asked for info on a business loan to cover a $20k-$35k used machine. I gave them my tax returns for 3 years, pay stubs, business financial summary for every year, and the status of all my bank accounts. They basically said no way. They would maybe loan $5k-$10k max, they did not understand what buying a machine was for. They said "it's capital equipment for a startup", I said "yeah", they said "we don't do that." Awesome, what do you do?

- Talked to some others about borrowing money in the $35k range for older used machines and was basically told that you can't get financing on stuff older than 10 years, 5 years makes them feel better. Realized a used machine like that would need to be done with cash.

- Investigated new machines. Haas makes buying a machine pretty friggin' easy, they are by far the most straight forward. I didn't really pursue it but I know they offer good terms and will typically find a way for a 1st time buyer. With 10% down you can get going. But by then I had found I really needed 20+ tools in a single setup and was in love with the Brother at work.

- Asked Yamazen if they did financing - they said no. Most the big machine tool guys do not provide in-house financing. But they recommended a place very highly.

- Took the initial quote from Yamazen and provided it to the finance guy with a basic credit report. Important things were: my business was older than 3 years already, my credit is exceptional, I was looking at a nice brand new machine, I have a good paying job without debt (just a mortgage), and some money in savings. I also told them I would come up with the money for the down payment.

- Initial review came back positive that they could get me financed, so we moved onto more details. Tax returns, pay stubs, personal and business financial summary, basic interview about business plans. That came back positive and they gave me the terms. 30% down payment (higher due to 1st time machine purchase), 5 year terms, 9.6%. This loan is also unique in that it is like a home loan, not a typical machine loan. I can payoff early, and there are no penalties. I then finalized the exact specs on the machine and a final price and they reviewed it all one more time and said OK.

- I need to carry insurance for the machine while it's financed, and they pointed me to a place that specializes in that, roughly $100 a month.

Just working out delivery dates and preparing all the paperwork for me to review.

[diyengineer]

Nice!!!

[rlockwood]

Great info man, exactly what I was curious about. I'm assuming they referred you to a bank that does capital lending (GE Capital or similar?)

The three year business will kill a new machine for me (at least in the next three years..) But I probably wasn't looking at buying one in that time frame anyway. The 9.6% would irk me, but assuming all goes well it would be paid off well ahead of the term. I'm sure they're aware of the sink/swim nature that cuts the loan short in one way or another, and price the APR high to compensate. Still, assuming you're financing somewhere upwards of 60k/5years, that payment would scare me for cash flow.

Again, thanks for the info. More to think about, as if there wasn't enough already.

[jid2]

Yeah, I ended up at a financing company that specializes in machine tools only. They then go and look for the actual bank/lender that can offer what you need/want. That rate is actually pretty good, it can get into the high teens and above. You are in the ballpark on the loan, and monthly payment. It should be no problem with the product up and running. But I'm actually still working on it, so it won't be part of the equation for a while. I got a new job, and that is what's making this possible at this stage.

[80gus]

Just read the whole thread very informative, any chance you have your ball nut mount drawing's still? I'm part way through my conversion, and have used yours for a bit of inspiration, thank you!

[jid2]

Which one, there are 3?

[80gus]

Be nice if i could see all 3 axis's, i've already drawn up my X+Y, i plan on making the Z later on. Id like to compare, as i know yours worked! I tried to Private message you, but appears your Message box is full!

[80gus]

I got the seams of the pan sealed up, finished the slot in the base for the Y-Axis with the air grinder on the new compressor as well as the additional holes for the Y-Axis block.



Here's where it's sitting for the night. You can also see the larger relief on the top of the X-axis ball nut block. Just need to drill the wire holes in the ball nut bolts and then grease bearings and mount both the screws
.
[/IMG]

Looking at your Y axisi noticed you relieved the hole? did you lower the shaft height? was the a specific reason you did it this, way, i'm sure there is something im not seeing.