What is equipment financing?
Equipment financing is a way to acquire items used strictly for your business. Whether that means a cash register for your retail shop or punching bags for your boxing facility, we can help. The types of equipment loans available are extremely diverse, but the Merchant Flow Financial team can help you choose the best option for your company. Having someone on your side weighing your options is a huge benefit. Not only will you be getting expert advise, but you will receive an advisor to help explain your options in a concise way.
What businesses is this type of loan used for?
Most construction companies need expensive equipment for onsite jobs and this type of loan would be ideal to afford machinery.
Healthcare tools used in hospitals and dental and doctors’ offices are often expensive. Equipment financing would be ideal.
Tools such as computers and lab equipment aren’t normally low cost, and a loan would help cover the costs.
However, these are just three of many!
How Can You Qualify?
Have a good credit score
Like in most cases, good credit helps with both approval odds and low interest rates.
Have a solid financial history
If your business has a strong foundation and good trajectory, then you should have no issues being approved
Equipment financing loans are more secure than other options. As a result, lenders are more flexible and willing to work with business owners seeking this type of assistance. These loans allow businesses to purchase the equipment that would normally be beyond your budget. An example of this would be heavy baking machinery for a local bakery. Most people wouldn’t have an extra thousand dollars in their pockets to afford all of their needed equipment. However, with an equipment financing loan, you will be able to not only afford your machinery, but use it for years to come. The loan you receive from us will help you make the initial purchase of whatever your business needs. This is the perfect way for companies to grow or get started when they may not have the funds up front.
Easy to obtain
As long as you have the means to show you can pay off the financing, approval is easy.
Helps increase revenue
Additional equipment is one of the easiest ways to increase your revenue!
Contact Merchant Flow Financial and ask how much of a loan you can take out for your equipment. With the help of one of our advisors, you will receive complete guidance throughout your loan process. We look forward to working with you.