Should You Always Pay Cash for Equipment? [Become A Superhero with Equipment Financing]

By Asher Zallik| Aug 2, 2021| 1217 Views

This video was made by Asher Zallik, a Senior Financing Consultant at Beacon Funding. As a Financing Consultant, Asher works with business owners to help them grow their operations using equipment financing options tailored to their situation.

The Amazing Adventure of Growing Your Business Starts Here!

If cash is king, why do 79% of businesses finance equipment? The myths of leasing and financing may be holding you back from acquiring the equipment your business needs. Every superhero needs a sidekick to help them achieve their victories. An equipment financing partner can be a powerful sidekick to help you acquire equipment faster.

Are you struggling to fight between what’s fact and fiction in the equipment financing and leasing industry? KA-POW! Beacon Funding’s here to help set the record straight.

Take a deeper dive into the article to discover how equipment financing can launch you towards equipment ownership!

Ready to have a financing sidekick to help you succeed?

Speak with Senior Financing Consultant, Asher Zallik today.

P: 847.307.6238 | E: azallik@beaconfunding.com

Fact or fiction? You should always pay cash for your equipment Fiction! Equipment financing can be crucial for growing your business.

Fiction: Always Pay Cash for Your Equipment

There is an industry myth that says paying for your equipment with cash “is always cheaper because you avoid paying financing charges.” Many business owners make this mistake of relying on personal savings or reinvestment of business earnings alone. The truth is, it is nearly impossible to scale your business without additional capital.

Fact! Equipment Financing Can Be Crucial for Growing Your Business!

Eventually, there comes a time when external capital is needed for growth. That means with the right equipment financing for your business, you don’t have to spend your hard-earned cash on a large equipment purchase. You can keep your business liquid while adding more equipment.

Once you get a boost of funding power for your business – WHOOOOSH! – that’s when you become super effective!

Benefits of Equipment Financing vs. Paying With Cash

How can equipment financing help your business maintain liquidity? Here are three powerful perks:

1. Saves You Time

When you needed equipment yesterday, paying with cash takes much more time to save and purchase needed equipment. It can take a lot of time to recoup all your savings. OUCH!!

But with flashing-quick equipment financing, you can just pay the down payment for your equipment and – SNAP! – you get your equipment fast! Plus, you get to keep more of your cash too!

2. Take Advantage of Opportunities

Are you unable to fulfill orders because you’re saving up cash for more equipment? You might be trading off a large sum of revenue you could have made by financing instead. When your business demands new equipment, financing can help you satisfy that need without breaking the bank.

Sometimes all you want to know is whether you can afford the equipment you need. A powerful app that calculates your monthly payment can assist you! See how low your predictable monthly payment can be with Beacon’s mobile app. You’ll be glad you did!

3. Free Up Cash to Expand Your Business

When you don’t spend all your savings on one equipment purchase, that means you have enough money to capitalize on investment opportunities.

Investing funds in your business can help your business grow and generate a greater return than the cost of financing. These opportunities include:

  • Technology
  • Marketing
  • Personnel

Ready to Supercharge Your Business with Equipment Financing?

While there are benefits to purchasing equipment with cash, your business must have a strong foundation to overcome challenges and take advantage of opportunities. No matter how great your business plan may be, things hardly ever go as planned.

Supercharge your business! Schedule your financing consultation at beaconfunding.com/financinghero today!

To find out more how equipment financing can help your business grow, contact Asher directly at 847.307.6238

Asher Zallik

Asher Zallik

P:847.307.6238 |  E Contact Me

Graduating with a bachelor’s degree from the University of Illinois at Urbana-Champaign, Asher Zallik is the financing consultant you will wish you knew when you started your business.