Why Manitowoc Finance’s Crane-Savvy Finance Beats The Conventional Big Banks

When a crane owner decides to add another Grove all-terrain or Potain tower crane, the cheque book is rarely the only hurdle. The true challenge is finding a lender that understands how project cycles, equipment asset value and ancillary gear shape a crane business—and that is precisely where the nearly 24-year-old partnership between DLL and Manitowoc through Manitowoc Finance, stands apart.

A Finance Solution Built Around Cranes, Not Spreadsheets

“The biggest perk is that DLL understands cranes. It’s not like a big pillar bank that just knows a payment is due on the 15th,” says John Stewart, General Manager Manitowoc Cranes Australia, about the partnership. 

That crane industry insight matters. A customer’s historical cash flow won’t always reflect what is required to get into the next size crane. Manitowoc Finance will work with the customer to understand what is coming up and not just what has happened in the past. John’s team and Kirk Purchase, Senior Account Manager DLL, can restructure existing contracts or refinance other contracts to get the operator into the equipment they need. 

Scale That Still Feels Personal

Manitowoc Finance underwrites “through-the-cycle”: the DLL credit team looks past the current P&L to the pipeline, your new customers, dry hire expenses, order backlog and the Manitowoc factory’s view of a customer’s track record to build a case for the successful acquisition of new equipment. That people-first approach goes both ways. John often drives out to a prospect’s yard while Kirk will sanity-check with a quick site visit to understand the business and the people behind it. That joint due-diligence is something pillar banks simply don’t have the bandwidth—or the industry knowledge—to replicate. 

Financing the Whole Lift, Not Just the Crane

A modern lift rarely stops at steel and hoist rope. Outrigger pads, spreader beams, battery packs for tower cranes or even a dedicated trailer can add hundreds of thousands of dollars to the purchase. Manitowoc Finance can roll all of it into a single package, so operators avoid multiple loans and mismatched maturities. “We can supply a tower crane with a battery and a personnel lift—40 per cent ancillary equipment, 60 per cent crane—and wrap it in one finance deal,” John says.  

The same logic applies to second hand machines. Manitowoc’s new Seven Hills facility is kitted out to refurbish used cranes, and DLL finances those units on the same terms as new stock—closing the loop for customers trading up or diversifying their fleet. 

Manitowoc Finance provides flexible financing options for crane and construction equipment. They offer payment plans tailored to the business’ cash flow, finance approvals for cranes being built, and master lease lines so the business can easily add more Grove equipment. As DLL is part of the Rabobank Group, the backing of Rabobank gives the program the balance-sheet strength of a global lender while keeping all decisions with a crane industry -focused team. 

Manitowoc Finance adds further flexibility:

• Longer term higher balloons using chattel mortgage 
• Operating (fair-market-value) leases with terms from 24 to 84 months
• End of lease options: extension, refinance or purchase

For operators nervous about today’s high interest rates, Kirk often structures a short initial term and plans a lower-cost refinance once the rate cycle turns.

Speed, Certainty and a Seat at the Table

Because DLL sits alongside Manitowoc’s sales team, credit decisions are quick and collaborative. If a bank hesitates over a tower crane, Kirk understands the resale value, service history, rental rates and crane industry conditions.  This leads to real-world approvals for businesses that mainstream lenders may classify as too not quite ready. 

The Takeaway for Fleet Owners

Whether you run a single 60-tonne taxi crane or a national tower crane fleet, Manitowoc Finance’s proposition is straightforward: 

• Industry DNA: 23-plus years embedded in crane finance; dedicated account managers who know jib charts as well as term sheets
• Whole-of-lift funding: Cranes (new & used), attachments, transport and even refurbishments under one facility
• Flexible structures, including interest-only periods and refinances to suit market conditions and cashflow your new Manitowoc fleet acquisition
• Products that grow with you: From two-year operating leases to seven-year chattel ownership paths, with the ability to trade up when appropriate
• In the end,” Kirk said, “our job is to build a finance case that lets a customer win the contract their crane is designed for. You want to talk directly to the lender and through Manitowoc Finance you can do exactly that."

For crane businesses looking to scale in a world of tight margins and increasing equipment costs, that beats a bank every day of the week. 

Ready to lift your business to new heights with financing through Manitowoc Finance? Reach out to Kirk via email here!

Disclaimer: Finance is provided by De Lage Landen Pty Limited (ABN 20 101 692 040) (DLL). Equipment to be used for business purposes only. Subject to DLL’s standard credit criteria, fees and terms and conditions apply.