You are right in that the wash is probably worth $800K (or more) easily however banks do not look at the changes that way. Residual values for the equipment are a fraction of the new cost. Banks are straight by the numbers (cash flow) analysis. How easy will you be able to service the debt is their only concern. If you need to raise more than $450K you will need to look at alternative sources. There are plenty of hard money lenders who would make a loan, just be careful as there are a lot of shady characters making those loans with some crazy terms. If you have not purchased the equipment yet there are companies that will finance just your equipment purchase at 60-70% of the new value.
