Category Archives for Equipment Financing

Equipment financing is a loan used for purchasing hard assets for a business. It works for businesses that can’t afford to buy expensive assets upfront. Also, if a company needs to replace its equipment frequently, it needs equipment finance or leasing to keep the business running. Leasing needs a small monthly payment over a multi-year period to use the equipment.

The Working of Equipment Financing:

Equipment finance includes a principal and interest for a fixed term. The lender may ask for a lien on the equipment to work as collateral against the loan. After the borrower pays the loan in full, the equipment becomes theirs. Sometimes, bad credit equipment financing may also need a personal guarantee or lien on additional assets. If in case, the borrower fails to repay the money in time, it can result in repossession of personal and business assets.

Benefits of Equipment Financing:

Financing the important equipment is a sensible option for any business. With this loan, the business owner will get the capital to buy an asset for long-term use. If they can pay the amount in periodic increments, the lender may agree to extend the capital. For example, medical equipment financing helps the healthcare centers to possess the latest equipment without heavy investments.

How to Get Equipment Loan?

When applying for equipment finance or lease, you may expect the following steps:
• The borrower must complete the application process for new or used equipment financing.
• They must check their credit score to anticipate the chances. The lenders use this information to decide if they can allow equipment loans for bad credit.
• Apart from credit rating, borrowers also need to make a business plan with a proposal for growth over years. It provides a comprehensive summary of operations.
• Also, prepare the right documents including the cash flow statement, personal financial statement, and a lender application.
• The lender will consider the application and will notify the approval if all conditions are met.

When looking to get an equipment loan, do the math and carefully examine the contract before signing on the dotted lines.

Equipment financing
Equipment loans
Equipment credit
Heavy Equipment leasing
Business equipment finance

Veterinary Business Loan

Veterinary Practice Loans and Financing

Are you looking for alternative ways to finance your practice? Beginning a career as an animal doctor is exciting, no doubt, but securing a veterinary business equipment loan can be more nerve bending than delivering a preemie colt!  In a world where just the schooling for becoming a vet can cost over $200,000, the expense  for medical equipment can be daunting to downright discouraging.  Dreams of making sick animals well and bringing smiles to the faces of loving owners can Read More

Marijuana Dispensary Loan

Business Loans For Marijuana Dispensaries

Is it impossible to get financing for your medical marijuana business? Even though there was groundbreaking news that came from the Feds two weeks ago, more than likely it’ll be quite a long time before you see banks willing to lend in this industry. Last Friday the U.S. Treasury stated it would be legal for banks to provide financial services to marijuana-related businesses. However this is not the end of the banking issue, there needs to be clarity for the Read More

Restaurant Equipment Loan

Restaurant Equipment Financing

Can I get a loan to buy equipment for my restaurant? Believe it or not, there are plenty of options available to a business owner who needs to buy some equipment for their restaurant. It really comes down to several factors when searching for the right financing program: 1. The type(s) of equipment the restaurant is buying 2. The credit profile of the owners of the company 3. The credit profile for the company itself (D&B) 4. Depending on the Read More

How to Buy a Skid Steer Loader with Bad Credit

Heavy Equipment Financing.

Are you trying to finance a Bobcat or skid steer loader but you have bad credit? If you have already tried to get financing for a skid steer loader and you’ve been turned down for issues like having bad credit you will find this article very informative. Most clients that we’ve spoken to assume because they were turned down for credit by other lenders automatically assume they can’t get financing. That is not necessarily true at all times. Depending on Read More

Forklift Financing for Business Owners with Bad Credit

Forklift Financing

Having Issues Financing Some Equipment Due to Bad Credit History? We’ve recently seen an increase of applications on forklifts needing to be financed.  After some research we discovered the majority of these applicants were all turned down by their bank for having poor credit.  It is not uncommon for today’s business owner to have some minor blemishes on their credit report. When there are slow months the company still needs to move forward, so there might be times where credit Read More

What If You Could Get Inside The Mind Of Your Customers?

Think like your customer

Learn what your customers want from you and increase your business! That’s correct, if you can learn what your customers needs are all you need to do is fill those needs! How do you find out what your customer wants? That’s simple, one of the easiest ways to find out is by conducting simply surveys. Our company typically will conduct surveys at two different stages of our relationship with a customer. One of the stages is right after a client Read More

How to get a Business Cash Advance Loan for your Gas Station

business cash advance

Getting financing for Gas Stations can be difficult, but getting a Business Cash Advance loan can be easy Typically you will find getting traditional financing for gas stations to be a challenge.  If you have less than perfect credit, or not enough equity you can pretty much forget about finding traditional financing for a gas station.  We all know how the banks have tightened the lending guidelines in the residential lending side of things, but that also applies to the Read More