Businesses of every type finance equipment. From one-man startups to monolithic corporations, enterprises of all sizes and industries understand the many benefits of equipment financing. It frees up cash for other business purposes, catalyzes growth, hedges inflation risk and keeps a company operating like a well-oiled machine.
Equipment financing empowers a business to acquire the latest machinery and equipment that ultimately heightens production and efficiency. You’ll out-produce your competitors if you have the latest and greatest equipment at your disposal. This is a competitive advantage every business needs.
There is a certain element of risk when a business devotes cash to a capital asset. If a business uses all cash for a capital asset instead of relying on equipment financing, the risk is quite significant. It will take a while to recoup such a massive cash investment through heightened efficiency. Rely on equipment financing, and the risk won’t be nearly as significant as your free cash won’t be tied up in the new equipment.
A business that pays the full cost of equipment all at once or even the majority of the cost through a down payment is making an inherently risky decision. Lock in an equipment finance loan, and you will obtain terms according to today’s comparably affordable dollars. This is a significant advantage in the long-run.
If you would like to use your cash for new hires, expanding your business, advertising, a specific service, research and development or anything else, equipment financing will prove crucial. It is possible to put down a fraction of the financed amount at the outset of the financing process. In some cases, no down payment is required. These borrowing terms empower a business owner to use his on-hand assets for other needs while still taking advantage of the benefits provided by new equipment.
A business that qualifies for an equipment loan will maintain its advantage regarding maintaining open lines of credit. Tap into the funds available through equipment financing, and bank lines of credit, credit cards and other sources of lending will remain accessible if the business needs them at points in the future.
There are even tax advantages to equipment financing. Certain equipment financing payments are tax deductible. Customized financing is even available to suit a business’s unique tax objectives.
The cash and budget financing provided through equipment financing permits the scheduling of predetermined payments and the preparation of budgets down to the penny. This is the type of financial clarity every business deserves.
MY Company Funding provides equipment financing for businesses in every sector. Financing is available for credit scores all the way down to 500. All you have to do is fill out an application and provide your bank statements. Reach out to us today to learn more. You can contact us by phone at 740-917-4960.