Many business owners are looking for new ways to save money. Working capital is hard to come
by unless you are a well established business with owners who have perfect credit. The days in which obtaining an unsecured loan easily have past. We used to do unsecured loans for all types of companies and credit situations. Now we can only do them if you have a credit score of 700 and above.
Finding new ways to finance a growing business is now paramount. More and more companies have decided to move towards lease financing in recent years because there are so many different assets and vehicles available under these circumstances. There are benefits to be found on both sides of this kind of deal, so it is definitely something that is available to almost every business own in the US. There are many different benefits of leasing, and you should take a look at these benefits if you think that leasing could be an option for you.
One of the main benefits of lease financing is that you do not have to use up a large chunk of your working capital to get new equipment. By leasing the equipment instead of buying it, you only have to put down a small down payment compared to buying the equipment outright. Leasing allows your business to upgrade to new equipment for a fraction of the cost.
Equipment leasing also offers very quick approvals and funding. In some cases I’ve been able to fund a lease in 3 days! Of course this depends largely on the client. If they are ready and have all their ducks in a row, we can move forward and get them approved and funded right way.
A third perk of lease financing that you should consider is the small monthly payments associated with equipment leasing. These small monthly payments not only make getting new equipment affordable, but it also helps build your business credit by reporting to D&B. I tell my clients to also submit it to Experian small business so that they build up their credit file there also.
While equipment leasing isn’t for every business. Most business will find that they can not only save a lot of money, but also obtain the equipment they need to give themselves that competitive edge, all the while preserving their working capital. If you have been thinking about upgrading your equipment, or feel that you can regain that edge above your competition with the right equipment, then the time is NOW for you to Apply For An Equipment Lease
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