Equipment financing can have a very powerful impact on your business, and can in fact, even help you get to the next level of business in your industry. Apart from the fact that it can boost your business to a higher level, there are other benefits which can accrue from obtaining equipment financing.
Ease budgetary constraints
When you can get the important equipment you need financed by a lender, that will allow you to keep your cash reserves on hand, and use them for other business purposes. If you were to invest all of your available cash in the purchase of equipment, that could seriously deplete your cash reserves and dry up your cash flow.
Leave other lines of credit intact
When you can obtain the equipment financing you need, you won’t have to exhaust your business lines of credit, or any other credit sources you may have. That will leave these other important sources available for emergency needs, or for day-to-day operations when required.
Fewer hidden charges
When you obtain conventional loans from a bank or other lending institutions, there are very often a number of unexpected charges which grossly inflate the overall cost of purchasing equipment. When you obtain equipment financing from a reputable lender, there are no real hidden charges to ambush you, and all the financing is totally transparent to the borrower.
Complete financing
It is very often possible to obtain 100% financing of a given piece of equipment, even if it happens to be a very large piece of machinery. And, it’s also sometimes possible to obtain the equipment you need with no down payment. Both of these terms are in direct contrast to some conventional loans that you might take out, and that gives equipment financing a distinct advantage over taking out a conventional loan.
Would your company benefit by equipment financing?
Most companies would operate much better if they had the necessary equipment to conduct business with, and if your company requires equipment financing to grow, we might be able to help. Contact us at Elevation Financial so we can discuss some options for providing you with the funding your business needs.
