Tag: Equipment

Equipment Financing and Leasing

If You Need to Modernize, Equipment Financing and Leasing Can Make that Much More Affordable

Does your business need equipment? Some of it can be extremely expensive. For a new business in particular, affording equipment can feel like an impossible dream. But you have got to have that equipment to make money! How do you make it past this frustrating Catch-22? You do it with equipment financing and leasing.

What is Equipment Financing and Leasing?

Equipment financing is when you use a loan or lease to purchase or borrow hard assets for your business. It is a business financing option you can use to buy or lease any physical asset. Physical assets can include items such as a restaurant oven or a company car. See nav.com/business-financing-options/equipment-financing.

Why Do Companies Use Equipment Financing and Leasing?

A recent the Equipment Leasing and Finance Association (ELFA) survey found that 80% of American businesses lease a portion of their equipment. The list of companies using leasing ranges, from the Fortune 500 to a mom and pop store. See entrepreneur.com/article/225959.

Advantages

You will pay predictable amounts every month. You can build business credit on a program such as this. The equipment is great collateral, the lender probably will not want any other collateral.

You will often put down less money than you would if you were buying the piece of equipment. You may be able to negotiate flexible terms with an equipment lease. It is easy to upgrade equipment after your lease ends. This is helpful if your equipment is something like a computer which quickly becomes obsolete.

Disadvantages

You may have to pay a large down payment. You will often need to have good personal credit in order to qualify. If your financed equipment becomes outdated, your business is stuck with it until the end of the lease for loan.

Also, leases can often end up costing more than purchasing. When the lease ends, you will need a new lease or to make some other arrangement. Buying a piece equipment means it is yours to keep or to sell.

Demolish your funding problems with 27 killer ways to get cash for your business.

Questions you Should be Asking

What equipment do you need and for how long? Do you want to bundle service, supplies, training, and the equipment lease into one contract? Have you anticipated your company’s future needs so you get adequate equipment? What is the total payment cost?

Important Things You Need to Know About Any Lease

Who will you be dealing with? Is there a separate company financing the lease? How long has the company been in business? Do you understand the terms and conditions during and at the end of the lease?

Is casualty insurance a requirement to cover damage to the equipment included? Who pays the personal property tax? What are the options regarding upgrading and trading in equipment before the lease period expires? Who is responsible for repairs?

Fair Market Value Leasing

Also known as an FMV lease. With an FMV lease, you make regular payments, while borrowing the equipment for a set term. When the term is up, you have the option to return the equipment, or purchase it at its fair market value.

$1 Buyout Leases

This is a type of capital lease. You pay off the cost of the equipment, plus interest, over the course of the lease. In the end, you owe exactly $1.

Once you pay the $1 residual.  which is essentially a formality, you fully own the equipment. This type of lease is very similar to a loan in terms of structure and cost.

10% Option Leases

This lease is the same as a $1 lease. But at the end of the term, you have the option to buy the equipment for 10% of its costs. These tend to have lower monthly payments than a $1 buyout lease.

Demolish your funding problems with 27 killer ways to get cash for your business.

How Much Can a Lease Cost?

Here is an example. Let us say you are leasing a $25,000 piece of equipment. Call it a 10% option, and a 36 month term.

The value of the Equipment is$25,000. The interest Rate is 15%. The term Length is 36 months. The monthly Payment is $780. The total Cost of Leasing equals $28,079. And the cost to Purchase is $2,500. Hence the total Cost of Equipment is $30,579. See merchantmaverick.com/equipment-financing.

With the example, you would be paying an extra $5,579 over the course of the lease. That is over 1/5 more added, to your total cost for the equipment.

If you bought the equipment from the start, you would pay $25,000. So you would be in $25,000 in the hole from the beginning. But with leasing, you have not spent the total $25,000 until over 2 ½ years have gone by. In the meantime, you can invest that money or earn interest on it.

Demolish your funding problems with 27 killer ways to get cash for your business.

Did You Know Credit Suite Offers Equipment Financing and Leasing?

We offer equipment financing and leasing programs. Companies must have at least one year in business. You can get approval even with challenged credit. You will not need financials to secure equipment financing. Approvals take as little as 24 hours.

Check out the easy qualification process. You can get approval with as low as a 640 personal credit score. For approval, lenders will request details on the equipment you are getting. After a quick credit review, you can get approval for as much as $10,000,000 in equipment financing.

Equipment leasing is powerful! We help business owners get financing to lease equipment. With equipment leasing you receive even more favorable terms than typical business financing programs, with even more benefits. Whether you are a startup business or a well-established business, we have hundreds of equipment lenders who would like to help.

Equipment Leasing Rates and Payments

You can qualify with only two monthly payments as a down payment. And you can get approval with a credit score as low as 640. Rates are affordable and 100% of your interest is tax deductible. Plus, you can get financing up to $10,000,000.

Benefits

You can enjoy 24-hour pre-approval. And you pay no application fees. Interest is tax deductible. Go all the way from application to funding in 2 weeks or less. Purchase, lease, or borrow against existing equipment.

Heavy equipment financing is available. We have loans for up to $10,000,000. And you can get approval with average credit. The equipment serves as collateral. Note: financials are necessary.

Equipment Financing and Leasing: Takeaways

Businesses often have fluctuating revenue. But they still have to have equipment. And for new businesses, they have to have equipment to get going, but they can never seem to be able to afford it.

This type of funding can be the ideal solution. There are advantages and disadvantages to leasing equipment, just like any other form of lease versus purchase. Credit Suite offers equipment financing and leasing. We help you navigate multiple dissimilar offers and make sense of it all. Let’s take the next step together.

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Equipment Financing and Leasing

If You Need to Modernize, Equipment Financing and Leasing Can Make that Much More Affordable

Does your business need equipment? Some of it can be extremely expensive. For a new business in particular, affording equipment can feel like an impossible dream. But you have got to have that equipment to make money! How do you make it past this frustrating Catch-22? You do it with equipment financing and leasing.

What is Equipment Financing and Leasing?

Equipment financing is when you use a loan or lease to purchase or borrow hard assets for your business. It is a business financing option you can use to buy or lease any physical asset. Physical assets can include items such as a restaurant oven or a company car. See nav.com/business-financing-options/equipment-financing.

Why Do Companies Use Equipment Financing and Leasing?

A recent the Equipment Leasing and Finance Association (ELFA) survey found that 80% of American businesses lease a portion of their equipment. The list of companies using leasing ranges, from the Fortune 500 to a mom and pop store. See entrepreneur.com/article/225959.

Advantages

You will pay predictable amounts every month. You can build business credit on a program such as this. The equipment is great collateral, the lender probably will not want any other collateral.

You will often put down less money than you would if you were buying the piece of equipment. You may be able to negotiate flexible terms with an equipment lease. It is easy to upgrade equipment after your lease ends. This is helpful if your equipment is something like a computer which quickly becomes obsolete.

Disadvantages

You may have to pay a large down payment. You will often need to have good personal credit in order to qualify. If your financed equipment becomes outdated, your business is stuck with it until the end of the lease for loan.

Also, leases can often end up costing more than purchasing. When the lease ends, you will need a new lease or to make some other arrangement. Buying a piece equipment means it is yours to keep or to sell.

Demolish your funding problems with 27 killer ways to get cash for your business.

Questions you Should be Asking

What equipment do you need and for how long? Do you want to bundle service, supplies, training, and the equipment lease into one contract? Have you anticipated your company’s future needs so you get adequate equipment? What is the total payment cost?

Important Things You Need to Know About Any Lease

Who will you be dealing with? Is there a separate company financing the lease? How long has the company been in business? Do you understand the terms and conditions during and at the end of the lease?

Is casualty insurance a requirement to cover damage to the equipment included? Who pays the personal property tax? What are the options regarding upgrading and trading in equipment before the lease period expires? Who is responsible for repairs?

Fair Market Value Leasing

Also known as an FMV lease. With an FMV lease, you make regular payments, while borrowing the equipment for a set term. When the term is up, you have the option to return the equipment, or purchase it at its fair market value.

$1 Buyout Leases

This is a type of capital lease. You pay off the cost of the equipment, plus interest, over the course of the lease. In the end, you owe exactly $1.

Once you pay the $1 residual.  which is essentially a formality, you fully own the equipment. This type of lease is very similar to a loan in terms of structure and cost.

10% Option Leases

This lease is the same as a $1 lease. But at the end of the term, you have the option to buy the equipment for 10% of its costs. These tend to have lower monthly payments than a $1 buyout lease.

Demolish your funding problems with 27 killer ways to get cash for your business.

How Much Can a Lease Cost?

Here is an example. Let us say you are leasing a $25,000 piece of equipment. Call it a 10% option, and a 36 month term.

The value of the Equipment is$25,000. The interest Rate is 15%. The term Length is 36 months. The monthly Payment is $780. The total Cost of Leasing equals $28,079. And the cost to Purchase is $2,500. Hence the total Cost of Equipment is $30,579. See merchantmaverick.com/equipment-financing.

With the example, you would be paying an extra $5,579 over the course of the lease. That is over 1/5 more added, to your total cost for the equipment.

If you bought the equipment from the start, you would pay $25,000. So you would be in $25,000 in the hole from the beginning. But with leasing, you have not spent the total $25,000 until over 2 ½ years have gone by. In the meantime, you can invest that money or earn interest on it.

Demolish your funding problems with 27 killer ways to get cash for your business.

Did You Know Credit Suite Offers Equipment Financing and Leasing?

We offer equipment financing and leasing programs. Companies must have at least one year in business. You can get approval even with challenged credit. You will not need financials to secure equipment financing. Approvals take as little as 24 hours.

Check out the easy qualification process. You can get approval with as low as a 640 personal credit score. For approval, lenders will request details on the equipment you are getting. After a quick credit review, you can get approval for as much as $10,000,000 in equipment financing.

Equipment leasing is powerful! We help business owners get financing to lease equipment. With equipment leasing you receive even more favorable terms than typical business financing programs, with even more benefits. Whether you are a startup business or a well-established business, we have hundreds of equipment lenders who would like to help.

Equipment Leasing Rates and Payments

You can qualify with only two monthly payments as a down payment. And you can get approval with a credit score as low as 640. Rates are affordable and 100% of your interest is tax deductible. Plus, you can get financing up to $10,000,000.

Benefits

You can enjoy 24-hour pre-approval. And you pay no application fees. Interest is tax deductible. Go all the way from application to funding in 2 weeks or less. Purchase, lease, or borrow against existing equipment.

Heavy equipment financing is available. We have loans for up to $10,000,000. And you can get approval with average credit. The equipment serves as collateral. Note: financials are necessary.

Equipment Financing and Leasing: Takeaways

Businesses often have fluctuating revenue. But they still have to have equipment. And for new businesses, they have to have equipment to get going, but they can never seem to be able to afford it.

This type of funding can be the ideal solution. There are advantages and disadvantages to leasing equipment, just like any other form of lease versus purchase. Credit Suite offers equipment financing and leasing. We help you navigate multiple dissimilar offers and make sense of it all. Let’s take the next step together.

The post Equipment Financing and Leasing appeared first on Credit Suite.

How to Use Equipment Financing and Leasing In Your Business

It’s hard to grow any business, whether new or established, without the necessary equipment. However, some of it can be expensive. For a new business specifically, affording equipment can feel impossible. Still, you need that equipment to make money, which lends itself to a frustrating cycle. The answer may be equipment financing and leasing.

Equipment Financing and Leasing Is a Great Option for Both New and Established Businesses

Equipment financing is when you use a loan or lease to purchase or borrow hard assets for your business. You can use it to buy or lease any physical asset. This can include items like an industrial freezer in a restaurant or an oven or a company car, you name it.

A recent report, the Equipment Leasing and Finance Association (ELFA) survey, found that 80% of American businesses lease a portion of their equipment. The list of companies using leasing includes everything from Fortune 500 companies to mom and pop shops.

Benefits of Equipment Financing and Leasing

There are many benefits to equipment financing and leasing. For example, you will pay a set amount each month, which makes budgeting easier.  Also, you can build business credit if your creditor reports your payment to the business credit reporting agencies. The equipment is the collateral. That means you do not have to potentially sacrifice any other assets.

Find out why so many companies use our proven methods to get business loans.

In addition, it’s easy to upgrade equipment after your lease ends.  This can be helpful if your equipment is something like a computer which quickly becomes obsolete. 

What’s the Catch? 

Of course, nothing is perfect.  You may have to make a large down payment.  Furthermore, you will often need to have good personal credit in order to qualify.  If your financed equipment becomes outdated, your business is stuck with it until the end of the lease or loan. Sometimes, leases can end up actually costing more than purchasing. When the lease ends, you  have to get  a new lease or to make other arrangements. Whereas, if you buy the equipment outright you can sell it if you want. 

Types of leases

There are a few different types of leases. Which one will work best for you will depend on a number of factors. 

Fair Market Value Leasing

This is also called an FMV lease. With an FMV lease, you make regular payments while borrowing the equipment for a set term. When the term is up, you have the option to return the equipment or purchase it at its fair market value.

$1 Buyout Lease

This is a type of capital lease in which you pay off the cost of the equipment plus interest over the course of the lease.  At the end, you owe only $1.  Then, when you pay the $1 you fully own the equipment. This is similar to a loan in structure, and cost as well.

10% Option Lease

This lease is the same as a $1 lease, except at the end of the term you can buy the equipment for 10% of its cost.  These leases typically have lower monthly payments than the $1 buyout option. 

How Much Can a Lease Cost?

Of course it varies, but here is an example. Say the total cost of the equipment you are leasing is $25,000.  If it is a 10% option with a 36 month term, with an interest rate of 15%, it looks like this: 

  • Monthly payment is $780
  • Total cost of the lease is $28,079
  • The cost to purchase at the of the lease is $2,500
  • And the total Cost of Equipment is $30,579

Find out why so many companies use our proven methods to get business loans.

In this case,  you would be paying an extra $5,579 over the course of the lease. That is over 1/5 added to your total cost for the equipment. If you bought the equipment outright you would pay $25,000. Of course, you would then be out  $25,000 cash all at once.  When you are leasing equipment, you pay out over the life of the lease and thus keep more working capital actually working for your business. 

Credit Suite Offers Equipment Financing and Leasing

You can take advantage of our equipment financing and leasing programs if you have been in business at least one year.  Even if your credit is not the greatest, we have options that may work. Even better, approval takes as little as 24 hours.

The minimum personal credit score requirement is 550. Generally speaking, this is considered a fair credit score, and thus much lower than what many lenders will want to see. You will also need to provide details on the equipment you are getting.  You can be approved for as much as $10,000,000 in equipment financing after a quick credit review. This type of financing often affords more favorable terms than typical business financing programs and better benefits. Our equipment financing programs work for both established and startup businesses. We work with hundreds of lenders, and we can help you find the perfect one for your needs. 

Equipment Financing and Leasing Rates and Payments

You can qualify with only two monthly payments as a down payment.  Rates are affordable, and interest is 100% tax deductible.  In addition, there is no application fee. Furthermore, the time from application to funding is generally 2 weeks or less.

Interest rates range from 7% to 25%, and depending on the amount of the loan and risk factors, you may have to provide 2 years of corporate and personal tax returns.

Are There Other Options for Funding Equipment? 

Of course, we already mentioned paying cash and taking out a traditional loan. If you have accounts receivables you can do receivables financing. That’s really better for funding cash gaps. However, if you need to collect receivable to be able to afford your equipment, it could work.

Another option is the Credit Line Hybrid. This is unsecured business financing. There are no documents required, and you can get up to $150,000.  You do have to have a credit score of at least 680 and meet some other requirements. However, if you do not qualify on your own, you can take on a credit partner that does meet the criteria.  One bonus of this option is that you can purchase the equipment outright.  Since many of the cards that are part of the Credit Line Hybrid sometimes offer low introductory rates for a short time, you could save on interest.

Find out why so many companies use our proven methods to get business loans.

Is Equipment Financing and Leasing the Right Option for Your Business?

The short answer is, it depends.  That begs the question, what does it depend on. Well, first, do you need equipment?  That’s what this type of financing is best for. Then, do you need to finance equipment? If you have the cash on hand, you need to consider it carefully.  Financing can be a good idea if you would deplete your cash reserves paying cash for equipment.

Of course, you could just take out a traditional loan. However, you may have to come up with other collateral. If you need finance equipment, using that equipment as the collateral is the easiest solution. The collateralization allows for generally better rates and terms than you would get otherwise. Contact Credit Suite today to find the best option for equipment financing for your business.

The post How to Use Equipment Financing and Leasing In Your Business appeared first on Credit Suite.

SBA Loans for Equipment Loans?

There are so many different types of business loans out there, it can be hard to figure out which type you actually need. Even harder is figuring out which type you actually qualify for.  For example, if you need to buy new equipment, equipment loans would seem to be the way to go, right? Even then, do you go with SBA loans, traditional loans, private lenders? 

SBA Loans for Equipment Loans: When Do You Need One and What to Do When You Don’t Qualify

The truth is, it’s not always so simple.  Sometimes, traditional loans work best for equipment purchases.  However, there are occasions when other options may fit your specific situation. But, when are those times? Furthermore, what are the other options?

Credit Line Hybrid Financing:  Get up to $150,000 in financing so your business can thrive.

SBA Loans for Equipment: What are Equipment Loans?get loans for equipment Credit Suite

Equipment loans, whether SBA loans or not,  are loans that are secured by the equipment being financed. For example, if you bought a new industrial freezer and financed it with an equipment loan, then the freezer would serve as collateral for that loan.  

The beauty of equipment loans is that you get the lower interest rates and better terms that typically come with secured financing.  The problem is, that isn’t always enough to qualify. 

SBA Loans for Equipment: What Qualifies as Equipment?

Equipment is not attached to the property, but the assets are longer term generally speaking. This includes things like heavy duty copy machines, industrial freezers and ovens, and more. These things can be used as collateral to secure a loan to purchase them.  

SBA Loans for Equipment: When Do Equipment Loans Work Better Than Other Loans? 

Using the equipment as security doesn’t get you out of needing to meet requirements like minimum credit score and income.  However, if you do meet these requirements and therefore qualify for the loan, the collateral can help you snag better terms.  Interest rates will almost definitely be lower, depending on other factors. 

SBA Loans for Equipment: Other Options for Equipment Loans? 

What if you don’t meet traditional requirements for equipment loans? There are other options. 

SBA Loans:  Options for Equipment Loans

The SBA has a few loans programs that work well for equipment financing. 

7(a) Loans 

This is the main program at the Small Business Administration. Through it, borrowers can get federally funded term loans up to $5 million. This money is available  for expansion, working capital, and other things as well as, purchasing equipment. Banks, credit unions, and other specialized institutions in partnership with the SBA process these loans and disburse the cash.

The minimum credit score to qualify is 680. There is also a required down payment of at least 10% for the purchase of a business, commercial real estate, or equipment. The minimum time in business is 2 years. In the case of startups, business experience equivalent to two years will work.

This is the most popular SBA loan program.  THis is due in part to the fact that funds are allowed to be used toward a broad range of projects, including buying equipment.

504 Loans 

The 504 loan program offers loans up to $5 million.   Money can buy equipment, as well as  facilities or land. Generally, these loans are  used for expansion. Private sector lenders or nonprofits process and disburse the funds. This program works well for commercial real estate purchases especially, but also for equipment.

Terms for 504 Loans range from 10 to 20 years, and funding can take from 30 to 90 days. They require a minimum credit score of 680, and collateral is the asset it is financing. There is also a down payment requirement of 10%, which can increase to 15% for a new business.

There is a requirement you be in business at least 2 years, or that management has equivalent experience if the business is a startup.

Credit Line Hybrid Financing:  Get up to $150,000 in financing so your business can thrive

Microloans 

Microloans are just what they sound like.  They are small loans, up to $50,000, that can be used to purchase equipment, start a business, buy inventory, or just as working capital.  Community based non-profits administer microloan programs as intermediaries.  The financing comes directly from the Small Business Administration. They can take upwards of 90 days to fund, and the minimum credit score is 640.

Credit Line Hybrid

If SBA loans will not work for your equipment needs, a credit line hybrid might.  It allows you to fund your business without putting up collateral.  Furthermore,you only pay back what you use.  It is unsecured, no-doc funding.  That means you do not have to turn in any financials. 

How hard is it to qualify?  Not as hard as you may think.  You need good personal credit, but that is relative.  Your personal credit score should be at least 685, which is lower than what is required by most traditional lenders.  In addition, you can’t have any liens, judgments, bankruptcies or late payments.

Also, in the past 6 months you should have fewer than 5 credit inquiries.  You need to have less than a 45% balance on all business and personal credit cards as well.  It’s preferred that you have established business credit, but not absolutely necessary.

Now, if you don’t meet all of the requirements, you can take on a credit partner that does.  Many business owners work with a friend or relative to fund their business.  If a relative or a friend meets all of these requirements, they can partner with you to allow you to tap into their credit to access funding. 

Credit Line Hybrid Benefits

There are a ton of benefits to using a credit line hybrid.  Most notably, it is unsecured, meaning you do not have to have any collateral to put up.  Then, as mentioned, the funding is “no-doc.”  This means you do not have to provide any bank statements or financials.  

Not only that, but typically approval is up to 5x that of the highest credit limit on the personal credit report. Additionally, often you can get interest rates as low as 0% for the first few months, allowing you to put that savings back into your business. 

The process is pretty fast. One other benefit is this.  The approval for multiple credit cards creates competition. This makes it easier, and even likely if you handle the credit responsibly, that you can get interest rates lowered and limits raised every few months. 

Online Lenders for Equipment Loans?

Another option if SBA loans will not work is an online lender.  This is especially true if your personal credit score isn’t great.

Even if you have great business credit, most term loans and many lines of credit require a personal credit check.  They may take your business credit into account, but if your personal credit stinks, it won’t help you much. Online lenders tend to have lower minimum personal credit score requirements than traditional lenders. 

An added  benefit is, an online lender will typically send you the funds faster.  Sometimes you can have the money in as little as a few days, with approval coming in as little as 24 hours.  

An Online Lender Could be the Answer to Your Funding Needs

If you can go with a traditional lender, great.  They often have better rates and terms.  However, if you, like many business owners, do not have that option, an online lender may be the perfect solution for equipment financing.  Approval requirements allow many more borrowers to get their funds quickly and easily.  Take into account the following factors: 

  • How much do you need? 
  • What do you need the funds for? 
  • What is your credit score? 
  • How much of a payment/ interest rate can your budget handle? 

It’s also important to note, there are a lot of predatory lenders online.  You have to be careful. The list above is a great starting point, but don’t stop there.  There are a lot of options, so be sure to research. 

Some of our Our Best Picks for Online Lenders

Fora Financial 

Founded in 2008 by college roommates, online lender Fora Financial now funds more than $1.3 million in working capital around the United States. There is no minimum credit score, and there is an early repayment discount if you qualify.

The minimum loan amount is $5,000 and the maximum is $500,000. The business must be at least 6 months in operation and the monthly revenue has to be $12,000 or more. There can be no open bankruptcies.

OnDeck 

Obtaining financing from OnDeck is quick and easy. First, you apply online and receive your decision once application processing is complete. If you receive approval, your loan funds will go directly to your bank account. The minimum loan amount is $5,000 and the maximum is $500,000.

Just like any other online lender, they do have certain requirements to qualify for a loan.  For example, a personal credit score of 600 or more.  Also, you must be in business for at least one year. Annual revenue must be at or exceed $100,000. In addition, there can be no bankruptcy on file in the past 2 years and no unresolved liens or judgements.

Kabbage

Kabbage is an online lender. They offer a small business line of credit that can help businesses meet their goals quickly. The minimum loan amount is $500, and they do not exceed $250,000. You must be in business for at least one year and have $50,000 or more in annual revenue, or $4,200 or more in monthly revenue, over the last 3 months.

Kabbage is  great if you need cash quickly. Also, their non-traditional approach puts less weight on your credit score, so they may work better for some borrowers than other lenders.

Rates start at 6% and go up to 22%. APR works out to 8 to 25%, and there is a 3 to 5 % origination fee.

Advantages are the soft credit pull and the fact that they will look at factors other than your personal credit if your FICO score is low. Another benefit is that Bond Street can offer very large loans if you qualify. Disadvantages are the longer time in business requirement and high APR.

Credit Line Hybrid Financing:  Get up to $150,000 in financing so your business can thrive.

Lending Club

Popular online lender Lending Club offers term loans. Business loans from $5,000 to $300,000. Loan terms are 1 to 5 years.

Get a quote in less than 5 minutes. Funds are available in as little as 48 hours if approved. There are no prepayment penalties.

Annual Revenue must be $75,000 or more. You must be in business for 2 years or more. Personal FICO score of 620 or better is required.

Rates of 5.99% to 29.99%. Total annualized rates starting at 8%.

Advantages are that the annual revenue requirement isn’t too high. Funds are available quickly. Disadvantages include high maximum rates.

Funding Circle

Funding Circle is a way to apply for SBA funds online.  To get started with Funding Circle, you must meet the following requirements. 

  • In business for more than 3 years
  • At least $500,000 in annual revenue
  • No federal tax liens
  • 680 FICO for personal Guarantor
  • Positive book value (assets > liabilities)

SBA Loans are Just One Way to Finance Equipment

Traditional equipment loans are the lowest cost way to finance equipment.  They won’t work for everyone though.  If they will not work for you, there are other options. The SBA offers loan programs that work well for equipment financing, and online lenders can be a possibility as well.  

Perhaps the most unique and under-utilized option is the credit line hybrid.  When you use this option, you do not have to use the equipment as collateral, and sometimes you can get 0% interest, at least initially. 

It will likely take some time to figure out which option for equipment loans will work best for your business.  The first step is finding out that there are, in fact, options.

The post SBA Loans for Equipment Loans? appeared first on Credit Suite.

Video Clip Production Equipment

Video Clip Production Equipment The Video Craze– Affordable Video Production Equipment New contemporary technologies in video clip manufacturing devices incorporated with the improvement of video clip– particularly electronic video clip– as an appropriate gadget for flick has in reality made it functional for basically any individual to discover to be a movie supervisor practically over … Continue reading Video Clip Production Equipment

Success again… $33,849.00 in New York, NY for Equipment financing!

Our client came to us to see how we could help him obtain her company goals.   We were able to facilitate her needs by securing financing.  Provided help when needed and became a great solution.

Glad to be a part of your success!

Click Here to see how much funding you can get for your business.

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Video Production Equipment: The Director’s Cut

Video Production Equipment: The Director’s Cut The Video Craze– Affordable Video Production Equipment New technologies in video production gadgets incorporated with the intro of video– particularly digital video– as a suitable device for motion picture has really made it practical for virtually any kind of specific ahead to be a flick manager basically over evening. … Continue reading Video Production Equipment: The Director’s Cut

Video Clip Production Equipment: The Director’s Cut

Video Clip Production Equipment: The Director’s Cut The Video Craze– Affordable Video Production Equipment New innovations in video clip manufacturing devices integrated with the introduction of video clip– especially electronic video clip– as an appropriate tool for movie has actually made it feasible for nearly any individual to come to be a movie supervisor essentially … Continue reading Video Clip Production Equipment: The Director’s Cut

The post Video Clip Production Equipment: The Director’s Cut appeared first on Marketing With Nancy G. Macias.