When you need to purchase new equipment for your business, sometimes buying it directly is not the best option. What’s more, buying equipment doesn’t necessarily mean buying all new equipment since small businesses can find quality used tools online in sites like Machinery Trader and ACityDiscount.com for restaurants. Businesses today usually acquire the funds needed to obtain equipment from either leasing them or by getting financed. Both methods are considered very cost-effective alternatives to buying equipment as it allows business owners to flexibly invest their money in other areas of their business.
Equipment financing is considered a better investment for businesses who plan on keeping their equipment longterm as they are typically easier to qualify for and in many cases, could be used to secure a loan without the need of putting up collateral. Inventory financing is a form of asset-based lending that allows businesses to leverage the existing inventory they have usually in combination with a factoring line. The borrowing amount is paid off through the purchase of equipment by customers. Companies facing difficulty getting credit from suppliers turn to this form of financing to improve their business’s cashflow and cover other expenses.
Some of the advantages to using this form of financing includes easier access to line of credit, being able to accumulate inventory during seasonal changes and having your line grow along with y our business. Small businesses in need of financing for equipment can turn alternative lending providers like us at Smart business Funding to get them the financing they need with the best terms available. We can provide funding to small businesses working in multiple industries like construction companies, medical practices, hotels, restaurants and much more plus we can offer payment in as quickly as 2 days after applying on our website.
Businesses who apply with us save big on cost and time and never have to worry about behind on payments as repayments are taken automatically from the purchase of future credit card receivables at a adjusting rate. If you’ve been in business for at least 3 months and you need funding for new equipment or inventory, call/text us at 917-533-2979 or apply here so that we can help push your business in the right direction. Apply now!