The seek for financing by startup contractors for construction equipment seems to have increased this year, as mentioned by First Capital Business Finance president, Dustin Doi. Many of these startups are rejected by banks, because with less than two years in the business, they are usually considered as “high risk” which leaves them without many financing possibilities.
Even with the pandemic, this year has been busier when compared to years before for First Capital Business Finance. Popular items have been dump trucks, bucket trucks, utility body trucks, compact excavators and soil compactors. First Capital Business Finance offers an average construction equipment loan of about $48,000 at 48 months. The loan terms will be determined by the purchaser’s income level and by his credit stand.
Negative credit is not a limitation in order to access financing as First Capital Business Finance offers a lot of challenging credit. As even Doi himself says “if you have really bad credit, we still have programs for that, too. You just have to either have equity in the deal, meaning a larger down payment, or you have to have some stronger income.”
What Are the Best Skid Steer Brands Compared?
A skid steer brands loader is a popular piece of