Most successful growing businesses eventually need to invest in new equipment such as computers, delivery trucks or new plant machinery. Using company cash or obtaining a business loan to finance new equipment generally requires either a substantial cash outlay or results in high monthly payments.
Equipment leasing can help your business obtain the equipment it needs to stay competitive and grow. Even if a business has enough cash on hand to fund a direct purchase, leasing is often the better choice.
Equipment Leasing allows business owners to rent equipment from equipment vendors for an agreed upon period of time. When the lease ends, the company simply purchases the equipment, returns the equipment, or renews the lease.
Equipment Leasing can be more expensive in the long run than a direct purchase, but usually requires less upfront cash and results in lower monthly payments. Check out the video above which shows How to Turn Your Equipment Lease Into a Strategic Advantage.
The more detailed information you can provide such as make, model numbers, and quantity, will allow us to provide a more accurate quote. Ideally, at this point, you will have met with the equipment vendor, identified the specific equipment you’d like to acquire, and received a quote from the vendor. Should you choose to lease the equipment, this level of detail will allow for a quick and efficient acquisition.
Our Equipment Finance Experts are able to assist you in making the best equipment financing decision for your unique business situation. By clicking the button below, you can submit the necessary information for us to provide you with a quote.
If you are acquiring a business that includes both real estate and equipment, SBA loans can be an efficient way to fund equipment acquisition.
SBA loan programs are generally intended to encourage small business investment in real estate, equipment, working capital and inventory. These loans can be for up to $5 million and have maturities of up to 25 years for real estate and up to 10 years for equipment, working capital, or inventory.
Click the button below and one of our experts will reach out to you do discuss the specifics of your situation to help you determine if an SBA loan is the right tool for your equipment acquisition.