In order for businesses to move forward, it is important that these businesses have the equipment that they will need in order to have productive growth. However, the equipment that is needed can be financially unrealistic to purchase using a lump sum, or can tie up a business’ growth while waiting to get enough money together for the equipment.
Equipment financing allows you to make payments over a multiple-year term, which allows you to make the important purchase that you need to expand your business while giving you more cash to invest into other projects. It also allows you to get the equipment without having to wait for a long period of time to raise enough funds, meaning that the equipment will essentially pay for itself as your business expands. We offer asset based lending, a type of financing which uses the equipment you have financed as collateral. The important detail about asset based lending is that the quality and ease of the item being sold off is what the loan is based upon rather than the financial backing of the company wishing to finance. This is an excellent option for businesses that have had financial trouble in the past but are beginning to see improvement, companies that are going through a merger, or companies that are just starting out. If your business has had trouble in the past, that does not mean that you will not be able to get a loan, contact us to speak with a representative regarding asset based lending, and get the chance to see your business grow that you deserve