This video was made by Aaron Rustebakke, who owned and operated his own business for 8 years before moving into equipment financing in 2019. As a Financing Consultant at Beacon Funding, Aaron works with small and medium-sized businesses to craft the right flexible financing plans to grow their business.
Interested in learning about your equipment financing options? Check out the 6 flexible financing plans we can develop to meet your unique needs.
Getting your custom plan starts with a quick discussion about your goals. Call (847) 897-2499 or schedule a call here.
In this article…
What is Flexible Financing?
6 Flexible Financing Program
Scale Up with Better Equipment
What is Flexible Financing?
A flexible equipment financing solution is a way to make equipment acquisition as easy and painless as possible. Your business needs flexible options that allow you to expand. These financing options allow you to be versatile enough to react to market changes and grow into more powerful equipment. Each plan is custom-built to your unique needs ensuring you get the most affordable plan for your situation.
6 Flexible Financing Programs Beacon Funding Offers
Deferred Payments (Buy Now, Pay Later)
Adding a new piece of equipment can come with a lot of uncertainty. If you’re worried about the time it’ll take to install equipment, train staff, and build up demand – deferred payments are your solution.
How do Deferred Payments work?
Well-qualified buyers can finance equipment today and defer their first payment for up to 90+ days. Your contract would begin the day you accepted the equipment for your business. Then, three whole months would pass before your first payment is due. During that time, you can train staff, build up demand and earn revenue, all payment free.
What a great way to start a new business venture!
Another way to keep upfront operating expenses low is with Step Payment plans.
How do Step Payments work?
Step Payments help you acquire equipment by giving you a smaller payment for the first three months, then a slightly higher payment for the next three months. Your final larger payment after six months will remain consistent for the remainder of the loan.
The minor initial step-up payments give you some breathing room as you ramp up demand and implementation.
Equipment Upgrade Program
Are you looking for the flexibility to expand down the line? Our Equipment Upgrade Program may make sense for you, depending on what you're trying to achieve while you're in a repayment period.
How does the Equipment Upgrade Program work?
Let's say you're currently financing a piece of equipment. You're only partway through your term, but business has been booming! You want to take advantage of this period of growth by upgrading your current piece of equipment to meet demand. But you don't want two pieces of equipment or monthly payments.
The Equipment Upgrade Program allows you to trade in your current equipment and finance a new piece of equipment of greater or equal value. You can get that more profitable piece of equipment at one manageable monthly payment at Beacon Funding.
We write hundreds of upgrades annually for our customers. We understand the need to be able to expand and grow!
Another excellent benefit to a growing business is wrap financing. This allows you to wrap multiple loans into one.
How does the Wrap Financing work?
Say you recently acquired a piece of equipment and need another one. Instead of having two payments, you can wrap them together into one. It's easy to save each month while keeping it simple with one monthly payment.
Seasonal Payment Plan
Does your business have inconsistent revenue? A seasonal payment plan makes your payments lower in your slow season and higher when you're busy. This plan allows you to maintain enough cash flow year-round to cover expenses. Allowing you to invest in the equipment you need to run their business without putting excessive strain on your finances.
How does a Seasonal Payment Plan work?
Not all businesses are the same; therefore, not all companies can sustain the same monthly payment during slower months. Tell us about your business’s busy and sluggish months via a quick chat, and we can help you tailor a plan that fits your revenue cycle.
Skip Payment Plan
Skip payment refers to certain months or dates in your stream of payments where you do not owe a payment. Skip a month or two of payments or more, depending on your pre-negotiated contract.
This can apply to a business with some seasonality and high volume versus low volume months or to a business that might serve multiple markets, impacting their cash flow.
How does a Skip Payment Plan work?
With this plan, you can select up to two months you’d like to skip. For the other 10 months, you’ll have a slightly higher payment while enjoying $0 payments during your slow months. Choose a lower monthly payment or none to offset your more profitable months.
Interested? Chat with us to learn how it can apply to your business.
Scale Up With Better Equipment
No matter how simple or complex your situation is, you can depend on Beacon Funding to help you get the financing plan you need.
Whether you have a seasonal business, inconsistent revenue, or need to build your loan, Beacon can help tailor your financing to match your goals. We believe in small businesses and are committed to making quality equipment more affordable to help you grow and expand.
No matter what flexible payment structure you choose when purchasing equipment, it’ll be customized to fit your business. From monthly payments to the term length, a lender with flexible financing experience will set you up for financing success.