Getting pre-approved for financing is a simple and effective way to know your budget before you buy equipment.
To get started, all you need to do is fill out a short online application form and provide some basic information about your business goals and equipment needs.
In this article, we’ll dive into the details on how you can get a quick and easy pre-approval.
In this article…
- What is a pre-approval and how does it work?
- What are the benefits of getting pre-approved for equipment purchase?
- How to get pre-approved for equipment purchase in 4 easy steps?
- What to do after you get pre-approved for equipment purchase?
- How to find the best equipment deals and financing options?
Don’t wait any longer, get pre-approved today and take your business to the next level with the equipment you need.
GET PRE-APPROVED
What is Pre-Approval and How Does It Work?
Getting pre-approved is a simple and effective way to make your equipment purchase easier and more affordable. You will receive pre-approval within 24 hours, which you can use to shop for your equipment with confidence.
A pre-approval is a loan pre-qualification process where a lender views your financial standing to determine your business’s maximum equipment lease amount, monthly payment estimate, and end-of- term options. Once pre-approved, the borrower can choose to borrow up to the maximum loan amount determined during the evaluation process. This allows businesses to plan their equipment purchases with confidence, knowing their financing is already secured.
This cost-free process is quick and provides a response within 24 hours after filling out an online application form. A pre-approval is not a commitment to enter into an agreement by any party.
Benefits of Getting Pre-Approved
- Get Your Equipment Faster: Equipment is a first-come-first-served market. A pre-approval means you don’t have to wait for funding and can get equipment when it’s available.
- Shop With Confidence: When you know how much funds you can borrow, you can shop with confidence knowing what fits into your budget – no more guessing!
- More Negotiating Power: Two potential buyers make offers on a piece of equipment, but only one has a pre-approval… Who do you think the seller is more likely to consider?
How to Get Pre-Approved in 4 Easy Steps
- Fill out this short form
- Receive confirmation of your application
- Talk to your expert consultant about your goals
- Get the approval!
Next Steps After Pre- Approval
After receiving pre-approval, can search for equipment that fits your needs and budget. Once you find equipment, send the equipment quote to your lender. They’ll draw up a final term around the equipment you select. If they agree with the terms, they must sign the acceptance documents and return them to the lender. This formal acceptance will initiate the final loan processing and disbursement of funds for the equipment purchase.
Finding the Best Deals and Financing Options
To optimize your purchasing experience, it is important to:
- Find a Lender with Equipment Expertise
- Consider Equipment Maintenance Needs
- Evaluate if the Price Is Aligned with Fair Market Value
- Finance Used Equipment That Holds Value Over Time
- Finance Your Used Equipment with Beacon Funding
Don’t wait any longer, get pre-approved today and take your business to the next level with the equipment you need.
APPLY FOR FINANCING