Are you ready to take your business to the next level with some modern equipment? Using up-to-date technology has been known to enhance output. How could your business expand even faster if the purchase didn’t also consume your savings? Before you pay cash, consider using equipment financing to make the purchase more budget friendly. With this powerful tool, you can quickly and easily acquire the machinery you need without the hefty upfront costs.
In this article, we’ll explore four fantastic benefits of equipment financing and how it can help your business thrive.
In this article…
- Acquire Needed Equipment Sooner
- Conserve Cash on Hand
- Flexible Payment Options
- Access to Both New and Used Equipment
Acquire Needed Equipment Sooner
Imagine you own a small landscaping company that needs a skid steer to enhance its operations. If you wait to save up for the purchase, you may miss out on potential contracts and revenue opportunities. Equipment financing allows you to seize these opportunities immediately, boosting your business's productivity and profitability.
Financing has helped businesses fund equipment in record time! For example, Beacon Funding offers a quick and simple equipment financing application process, often providing same-day credit decisions.
The owner of Promos Ink, Carla Dooley, raved about their fast approval times. “Banks and credit unions have a lot of red tape. It takes 30 – 45 days to get anything finalized. Beacon didn’t have those issues. They were much easier to deal with, more personable.”
With a high approval rate of 7 out of 10 businesses, businesses have a greater chance of getting the funds they need. This means you can start using your skid steer -- or any other equipment you finance -- to generate revenue right away!
Watch the video to see how Beacon Funding helped businesses nationwide grow… and it all started with an easy and convenient application!
Conserve Cash on Hand
With equipment financing, your business doesn’t need to drain its savings when adding equipment. Financing lenders, like Beacon Funding, can help you obtain equipment while conserving cash for other expenses like payroll, marketing, and daily operations.
The #1 reason why businesses fail is they run out of cash. And buying a piece of heavy equipment outright with cash could impair your business’s ability to cover emergencies or take advantage of opportunities.
Equipment financing allows your business to maintain liquidity. By opting for financing, your business can spread the cost of equipment over time through manageable monthly payments, rather than making a large upfront investment. This approach ensures that more capital remains available for critical short-term needs and strategic long-term investments.
See how affordable your next equipment purchase can be with equipment financing! Calculate your low monthly payment now.
Flexible Payment Options
Beacon Funding specializes in flexible financing. This is unique payment plan built around the unique needs of a business. These options help manage budgets effectively and align payments with revenue cycles.
Deferred Payments
Deferred payments delay the repayable start date by a set time. This allows businesses to start using equipment immediately and generate revenue before their first payment is due.
Seasonal Payment Programs
Seasonal payment programs match payment schedules with seasonal revenue cycles. For example, landscaping businesses can have lower payments during the off-season and higher payments during peak seasons. That way, you can stabilize your cash flow.
Step Programs
Step payment programs start with smaller payments and gradually increase to a fixed amount, providing breathing room during the initial stages of equipment use.
Skip Payments
Skip payment options let businesses "skip" payments during low-revenue periods, which is helpful for companies with fluctuating income.
These flexible payment structures ensure that businesses can get the equipment they need without being limited by upfront costs. They help companies manage their finances better, grow faster, and stay efficient.
Access to Both New and Used Equipment
When evaluating lenders, it’s important to choose one that specializes in the equipment you need. Beacon Funding finances both new and used equipment to provide business owners with more options within their budget. Whether it's the latest technology or reliable used equipment, financing options ensure you can acquire what you need to operate and grow.
Conserving Capital with Used Equipment
Used equipment typically comes with a lower price tag compared to new equipment, making it an attractive option for budget-conscious businesses. For example, a startup may opt for used equipment to conserve capital while establishing its operations. As the business grows, it can then decide to finance new equipment that enhances productivity and supports expansion. This approach helps manage upfront costs and allows businesses to remain agile in a competitive market.
Adapt to Changing Markets
Moreover, financing new and used equipment can enhance a company's ability to pivot adapt to changing circumstances. Whether you need to replace worn out equipment or need different tools to take introduce a new service, equipment financing offers the capital to react quickly. Without restrictions from immediate financial pressures, businesses can acquire equipment essential for long-term success.
Start Growing Your Business with Equipment Financing
Don't let financial constraints hold your business back. Applying for equipment financing is a smart and effective way to ensure that your company has the tools it needs to thrive. With flexible options tailored to your specific circumstances, you can maintain your competitive edge, manage your cash flow effectively, and focus on growing your business.
GET STARTED NOW
Take the next step towards success and explore equipment financing today.