When you’re just starting out, the business world is a scary place. You have marketing plans, employees, insurance, money, and just about everything on your mind.
Equipment financing should be easy and simple. And it shouldn’t be something that you skip out on due to fearing that it will take too long or it isn’t worth it.
Lets You Operate as Usual While Your Small Business Grows
Your day to day operations could be severely limited if you’ve paid up front and out of pocket for your business equipment. If you don’t have that equipment at all because you didn’t have the funds to pay for your equipment, then the same obstacles still stand. It’s a catch-22. As a business owner, you need equipment to go about your operations and make money. But what happens when you don’t have the money to pay for the equipment that you need?
Yep, you guessed it. That’s where equipment financing can come in to save the day. As a small business, you might have a more limited quantity of resources at your disposal. Getting equipment financing will make that amount of resources grow by leaps and bounds. It will also save you vital money now, so you can use the funds for other business needs and expenses.
Oftentimes, equipment financing companies have great relationships with the companies you’ll be getting the equipment from. You’ll probably be able to secure a better deal on the equipment you’ve got your eye on when working with a company compared to if you had gone through it alone. In addition, lenders have already built up a reputation with the companies that might have taken you years to build. With those reputations, they can get you a better deal or least guide you away from a bad one. The better deals you find, the faster your small business will grow!
It’s not a surprise your business is going to grow when you have more efficient equipment. Old equipment could be slowing you down and hurting your bottom line. Making the investment into new equipment will pay off in both the long run and the short run when you’re able to streamline your process. As mentioned before, the financing also keeps money in your pocket so you get your new equipment without the huge upfront cost.
Build Your Reputation
Once you secure your first equipment loan, it will be much easier to get financing moving forward. As long as you make your payments on time and keep your credit in good standing, getting equipment financing will make you seem more reputable to future lenders and prospective business partners, employees, and customers.
Get off the Ground and Growing Your Small Business
Getting a business started in the first few years is the most difficult phase of the journey (hopefully!) In the beginning years, funds are lacking but demand is high for equipment.
With a fair rate on your equipment financing, you can put your mind at ease. You’ll be able to afford the tools you need to get yourself up and running. The first five years is the time companies are most likely to shut down. With equipment financing, it won’t happen to you.
TopMark Funding is waiting to help you grow your business by providing you with equipment financing that’s right for you. We help every credit level with competitive rates, no matter the type of business. Let 50 years of combined knowledge in equipment finance start making your business better today.