Equipment financing is a service that allows you or your business to purchase the equipment you need without having to pay for the full cost upfront. In this case, the equipment is financed with an agreement to make fixed payments for a set period of time. This type of financing is perfect for individuals who are looking for ways to grow their business and don’t want to put all their eggs in one basket. It gives them the opportunity to purchase the equipment they need without having to take out loans or use any of their own funds. Here are 5 industries that benefit from equipment financing
Trucking Industry: Running a successful commercial trucking business requires you to be super organized and have the know-how to keep your business running efficiently. Getting equipment financing allows business owners to hire more drivers, buy more trucks, and provide the capital to maintain their fleet. Transportation companies can also use equipment financing to pay for any additional equipment needed for the business, such as seasonal tires, offices, workflow software, and additional storage. Having the available funds will help any trucking company grow its business.
Dental Industry: Starting a new dental practice office is a very costly thing to do whether you build it from the ground up or looking for commercial buildings. Getting dental equipment financing will provide the potential to cover any major costs that you need in the beginning. You can use the extra funds to pay for staff and payroll, dental chairs, x-ray machines, office software, and other general forms of dental equipment.
Restaurant Industry: Restaurants require a lot of equipment to start running. The initial investment is a hefty one when you need to purchase not only the location of the restaurant but purchasing, ovens, dishwashers, fridges, stoves, and other common restaurant equipment. Even if you already have an established restaurant business, then it still might be a good idea to look at financing for upgrading to new equipment or new furniture.
Construction: The basis of any construction company is the equipment needed to even start a project. Having the access to the best construction equipment available will make your business more reliable and improved gear allows you to take on more ambitious projects. Financing construction equipment is a good way to keep your current cash flow and pay what you can over time.
At Equipment Financings, we know your business is of utmost importance, and we’ll do everything possible to make sure you have what you need to succeed. That’s why we offer flexible terms, free consultations, and personalized services for each borrower. With fast and easy approval for businesses with any credit history, we offer a variety of financing options that can fit any needs and budget.