Don't know if it would bend material for tank hoops or not depends on what sort of material you would be using to make them pipe or solid material ? Probably would work but would need a pretty long piece to start with and help holding it until you get it started the way you wanted.

I've looked at the other bender you mentioned and would like one of those also for various things. Keep watching for it to go on sale in the inside track club or could probably wait on a 25% off coupon. 20% ones are all over the place.

New Harbor Freight store just opened in Greenville in part of the old Big Lots store right down from Rural King.