First, how much do you need for startup equipment financing?
Why Finance Your Startup Gear Online?
Online financing for equipment has a number of benefits, and this is particularly true if you have bad credit. Before you get your cash loan offer, take a look at some of the perks to online lending.
All Credit Is Welcome
Most dealers require good to excellent credit, so if you have some credit issues, you might be out of look. Online lending is different.
Our lending group is made of dozens of lenders, which may make it easier to get a yes from one of them. In addition, many of these lenders are used to working with poor or even bad credit. If you have heard no before, an online lender might be your answer.
Shop How You Like
If you take out an online loan from one of our lenders, it will be a cash loan. Cash in hand allows you to do several things.
For starters, you will be able to shop any dealer that you like for your startup equipment. You are not bound by financing that is tied to one particular store.
Shopping for used equipment is also an option if you have cash. Buying gently used equipment can save you thousands over the cost of new.
Faster Than Paper
How long does it take to get a credit offer from a dealer? It often takes hours to work with a dealer finance department, but online lending is a lot faster. It takes just a few minutes to fill out a quote form and get a credit decision.
Get Your Equipment Financing Offer
There are a lot of benefits of online lending and the easy application process is one of them. Here is just how easy it is to get your quote for startup equipment financing, even if you have bad credit..
Fill In Your Form
First, head to the top of the page and enter how much money you need for startup equipment financing. Follow that up with some basic information about yourself and where you want the money sent. Then, all that you need to do is agree to the terms and submit your offer. The entire process usually takes just a few minutes.
Review Your Offer
If approved for financing, one lender from the group will make you a loan offer. You will then need to be directed to their individual website to view the terms of the offer. Once there, you should take all of the time you need to make sure that the offer is right for you. Not every loan is a good one and this is particularly true if you have bad credit.
Make A Finance Choice
With all of the information in front of you, it is now time to make a decision. Like the offer and you can accept it and money will be in your bank account as soon as the next business day.
Negotiating A Startup Equipment Purchase
Now that you have your startup equipment financing, it is time to make your purchase. Here are some tips.
Buying New Equipment
If your startup equipment is new machinery, you need to be particularly careful how you spend your money.
1) Make sure to research what type of machine you need for your project before buying anything.
2) Know how much space your construction site has before buying a specific type of machine.
3) Know what size of machine will work best for your startup business.
4) Consider the cost and how often it will be used when deciding what size to buy.
5) Be sure to purchase from a company that provides warranties on their products so they
Consider Used Equipment
If you are saving up for one purchase, consider purchasing used equipment. There are many benefits to buying used equipment. One benefit is that it costs less than buying new equipment. Another benefit is that it will have a lower monthly payment since there is no down payment.
Purchasing used equipment also has some disadvantages. The first disadvantage is that the warranty will be shorter than if you had purchased new equipment, but this can be fixed by purchasing an extended warranty or an insurance policy. The second disadvantage is that the resale value of the machine will not be as high as if you had purchased new machinery, but this can be fixed by keeping your machine in good condition and using it for a long time.
