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Equipment Leasing

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Equipment Financing for your Businesses

Now that human labor is replaced by machines, running a small business has become easy. But machines do break down, and an upgrade is necessary to keep the business running. With equipment financing, it is easier to renovate. Regardless of the size of the business, as an owner, one must stay in touch with the current trends.

Merchant Advisors will give you a brief insight into the mechanics, and pros and cons of equipment financing.

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What is Equipment Financing?

Need to finance a new or used equipment for your business? Equipment financing allows you to finance up to 100%. Usually, there are two ways one can go; either you can lease an equipment, or you can apply for an equipment loan So, if your business needs a new POS system, a freshly booted system unit or a delivery truck, equipment financing or equipment loan fast and quick approval will help you meet your dreams. Use the accessible and reliable equipment financing to renovate, purchase or mend any sort of equipment.

If you decide to go with equipment financing, you don’t have to worry about the down payment. Moreover, you will be able to finance 100% of the whole cost. The only other fee you have to pay is to cover your taxes and other minor charges.

Have a look at the perks of Equipment Financing:

  • You can finance up to 100% of the equipment value.
  • The loan/financing terms only die when the equipment dies!
  • Lower interest rates ranging from 8-30%.
  • You can have the funds as fast as two days.

What is an Equipment Loan?

The final loan terms will vary according to the monetary resume of the borrower, however, through equipment loans, you can finance 80% of the equipment cost. Apart from this, you have to offer the down payment to the lender. The purchased equipment is your property from day one –it is a plus point!

So, if you want to amplify your collection of equipment, for business purposes, apply for an equipment loan. Other than this, you can send a loan application if your outdated apparatus is acting up.

Here are some of the perks of Equipment Loans:

  • Equipment Loans comes with fast approval, only if you are applying through the alternative lenders.
  • Flexible loan repayments, you can repay when your business is making enough profit. Enjoy the equipment with ease.

Positives and Negatives of Equipment Financing

Equipment Financing is one of the suitable funding options for an upgrade of any piece of equipment.

Here are a couple of plus points of Equipment Financing:

  • No extra collateral.
  • Equipment will act collateral.
  • Fast approval.

Now, let’s go through some drawbacks of Equipment Financing:

  • Once you are done clearing of the debt the equipment is likely to become old school.
  • Depreciate the purchased equipment to deal with the yearly Business Tax Returns.

Can you qualify for Equipment Financing?

Merchant Advisors offers Equipment Financing on realistic terms. Our qualification criteria aren’t set far high on the pedestals. Every business needs equipment financing, the final cost of equipment financing will depend on your all over performance. The contributing factors include the nature of the business, type of equipment, credit score, business plan, and financial worth.

Even the business owners with a bad credit score can have easy access to Equipment Financing. Equipment financing doesn’t ask for particular collateral because the purchased apparatus will compensate.

So, what does the lender look at? The lender will evaluate your performance depending on the borrowing history. If you have defaulted on your payments in the past, then your chances are rather slim. On the contrary, clearing off the debt on time in the past will strengthen your chances.

Lastly and more importantly, if you are running a business for more than 2 years, your business is making money more than $130,000, with a credit score above 600 you are an ideal situation going for yourself.

How can you apply for this supreme offer?

Merchant Advisors’ Equipment Financing is one of the simplest financing option to apply to. Give us your credit score report, business tax returns, and bank statement. We will get back to you with a final verdict in just 24 hours. As this is equipment financing, a few pieces of information about potential equipment are a necessity. The lender will ask for a quote, the cost of the very equipment, and some credentials regarding the equipment.

Documents needed to APPLY

Bank Statements
Bank Statements
Financial Statements
Business & Personal Tax Returns
Driving License
Driving License
Strategic Business Plan
Business Debt Schedule

Workings of Equipment Financing –Rudiments

Don’t feel threatened if you are unable to gather funds to purchase new equipment. We present you, Equipment Financing. This funding option allows you to get any type of equipment you please, oscillating from a delivery truck to a brand-new refrigerator.

Equipment Financing allows its user to either purchase a brand-new gadget or a used gadget. The loan terms are dependent on the price of that piece of equipment. Equipment financing major benefit is its no collateral policy. Equipment Financing come under self-secured business loans. These characteristics, especially, makes it a bit easier for the business owners to apply for the loan.

If due to some unfortunate circumstances, you are unable to make the repayments on time, the lender will take control over the equipment and you will lose all the authority over it. So, make sure you have set multiple reminders to pay the debt.

When will the Equipment Financing Expire?

Usually, most of the lender's set the terms to at least 10 years, but then again some lenders want to get rid of the equipment as they have cleared out all the debt. Because they fear the equipment will become obsolete and they want to stay in touch with the recent trends and need.

All things considered, the terms of equipment financing expire when the equipment expires. Satisfaction and need to keep the equipment for a longer time might result in longer equipment financing loan term.

Thin Line Difference Between Equipment Financing And Leasing

Equipment loans or financing and equipment leasing are designed to cater to two very different business problems. If your business needs fresh equipment to fix the problem of temporary nature, apply for equipment leasing. Because once the problem is fixed, the need for the equipment vanishes as well.

On the other hand, if you desire to add the purchased equipment in your permanent collection, apply for an equipment loan. Equipment purchased from equipment financing is yours from day one. The equipment shall remain under your supervision even after you have clear all of the debt.

How to improve your Financial Credibility?

In order to strengthen your chances of loan approval, here are a couple of steps you should practice as a small business owner:

What Gives Merchant Advisors An Edge Over Other Lenders?

We've learned a lot by working with thousands of small business owners like yourself. With Merchant Advisors, you not only get equipment financing, but also credit resources, affordable prices, renewal benefits, early repayment savings and, on the top of all that, peace of mind.

Final Thoughts

If you run a business that requires the constant upgrading of equipment, then you should apply for an equipment loan. Apart from equipment financing/loan or leasing, you can go with invoice financing and lines of credit as well. It is recommended to apply for a loan so that you can save your business from disrupted cash flow.

In order to make a wise selection from financing and funding options, you should have a clear idea about future business plans and strategies. Once you have a clear vision, you will be able to fully utilize the resource in a fine manner.

In addition to this, if you ever feel financially stuck you should take help from our financial advisors. So, update your equipment and your business to new heights.