SMALL BUSINESS LOANS FOR MORE EQUIPMENT
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All businesses need equipment of some sort in order to run correctly. Do you work in construction? Battery operated tools and equipment that contains a small motor engine are high ticket items. Perhaps your particular brand rents out larger assets such as bulldozers and cranes. Keeping these items in stock amidst wear and tear, or even starting up a company that uses them, can be quite costly. Some organizations run more on computer power than anything else. Machinery for digital businesses often includes at least two laptops (more for bigger companies as it is usually necessary for every employee to have their own desktop computer and/or laptop) as well as a printer. Keeping costs as minimal as possible still can mean thousands of dollars spent on equipment, and that’s only for a one man operation. Add more employees (an added cost in itself), and tens or even hundreds of thousands of dollars become invested just in the necessary equipment.
Businesses that start out sometimes have hefty equipment costs to navigate. There are, of course, ways to cut corners, as any motivated entrepreneur will find. Sometimes connections with others in the industry, inheritance from taking over the family gig, or sales in lesser known places can help out the starter-up.
Yet so many people who try to raise a business from scratch in popular fields such as medicine, information technology, and even law firms can run into problems of having enough capital for equipment costs. Where does one get the funds to float these costs until the profit comes rolling in? A business loan is probably the best bet. The next question is how to get a bank to consider lending thousands of dollars for something that is sometimes a sunk cost to a company that has nothing to back up its claim to be profitable besides a well-thought out plan. Established companies looking to expand often have better luck in this department, but if you find you are in this beginning position, we are definitely a good starting place to look.
Established companies that expand may have their eye set on the latest model with the best efficiency. Now that their profit margins are more set, their plan in full swing, it’s time to up the game by ditching finicky equipment that requires multiple steps in order to work correctly and replace them with the latest gadgets that save time and are easier to work with. New equipment that’s fresh on the market is always attractive but often comes with a large price tag. Having the latest technology, besides helping production, is also something that catches the attention of paying customers. There is nothing quite as satisfying as being able to boast in store or on marketing campaigns that the products or services offered are edgier than the competition, as the best equipment is used to deliver them. If the latest and greatest thing to hit the market is simply too far out of reach, or expansion happens in the lag time between innovative state-of-the-art equipment, buying the latest model may mean investing in equipment that is a few years older. Anything that is in great working order can be a step up over what a business is currently using. However, even models that are older, when bought new, can have a frightening cost associated with them. Business that has booming profits may not be bringing in enough to update all that needs attention. A high amount loan for small businesses may be the best way to go. With financial reports of profits and tax returns available, banks are often all too ready to lend necessary money for expansion efforts, with a nice little interest fee on top. Here is a way to expand where businesses can pay back a loan with no interest for many months. This is a definite advantage to help businesses in their everyday production of services and products.
As you supply goods and services to others, the life of equipment eventually comes to an end. This is true for traditional companies as well as organizations that cater directly to other businesses. That heavy machinery that is your work horse, how often has it needed servicing in the past year? Perhaps it has warranted attention but that keeps getting pushed to the back burner as other, more pressing concerns monopolize your time. How old is it again? Older equipment can be tried and true. We know all the secrets to getting it to run smoothly and can even get attached, as silly as that seems, to the ritual of keeping it working. Eventually, however, all good things come to an end, and the equipment starts to fail. Not to worry, most manufacturers offer some sort of warranty or customer support. This hopefully extends the life of your equipment by several months or years. There will sadly come a time when the equipment is beyond all thought of repair or patching. A new piece is the only way to go, and per Murphy’s Law, breakdowns can happen at the most inconvenient of times. Business may be slowing down due to seasonality, but without replacing this essential tool, any last, highly profitable opportunities that come forward are going to be wasted. Or maybe you find yourself in the middle of a job and that’s when your machinery has turned its back. If an emergency fund is lacking, or non-existent, consider a business loan to help bridge the difference.
Most banks offer loans readily to established local businesses. An owner who sits down to a meeting with all their paperwork in order can prove that profits are high and costs manageable. Tax returns and statements of payment from venders add even more credibility to their ability to repay loans, which is also highlighted by their personal good credit score. Even those who may not be on the best footing credit score-wise can find a work around using their business’s own credit score. With all this success behind them, they also have assets that help secure a loan. Current expensive equipment that is in good working order or existing real estate tied to the business can serve as collateral to make banks see lending to this particular person as a good risk, one that will bring back all the money loaned, plus interest. Some entrepreneurs with good bank connections can be sure to get favorable interest rates but are often facing rates of at least 6%. Other options include taking out business credit cards that are able to handle amounts for tens of thousands of dollars. These cards however often have prohibitively high interest rates, 20% or more. The holy grail of loans is definitely the interest free small business loans.
Our partner checks off all these boxes for the best no interest small business loans for high amounts to help shoulder costs for equipment. We know all the places high value credit cards with 0% interest can be found. Although this information is freely available, searching it out requires time, a great effort, and sometimes even the right contacts at various banks and lenders. Our partner already knows where to go to find these cards, and has a considerably large network to also help the search for small business loans. They are able to leverage good credit to this network and complete applications in an order such that an applicant can easily be approved for double what they wanted to begin with. This results in a large loan that is interest free for several months, so that you can easily get all the equipment needed, put it to work, and repay the loan in no time. Imagine paying back just the amount used, no additional interest. Repayment in this manner also helps strengthen your own personal, or business, credit score. If this isn’t enough of a reason to want this type of a loan, consider that our partner specializes in loans that are unsecured, no collateral is needed. These creative strategies for no interest small business loans are applicable to all business owners with good credit, whether their company has operated for many years, is just taking its first steps into the public market, or is currently struggling. What are you waiting for? Check it out today! Receive your no obligation phone call today, click this link.
