Importance of Equipment Financing Expertise
Bakeries, delis, tailors, florists and others all exist in niche markets. Sure, you could get the products they sell elsewhere, but the quality just wouldn’t be the same.
The same principle applies with equipment financing -- a bank or general lender could maybe get you the funds you need, but the level of service isn’t the same.
By working with a lender that specializes in both your equipment and your industry, you’re able to leverage unique benefits to ensure your business is able to get the equipment it needs to successfully grow.
Customized Equipment Financing Plans
When the lender you work with has extensive knowledge of the equipment you’re looking to finance, they’re better able to create a plan that fits into your business model.
Rather than sticking to a traditional structure that banks and general lenders prescribe to, financing consultants can bend the rules to create a completely unique financing plan.
Flexible Plans You Could Qualify For:
- No Money Down — Skip the down payment with 100% financing.
- Buy Now, Pay Later — Don’t start paying until the equipment has a chance to bring in profits.
- Skip Plan — Seasonal business? Make no payments during slow months.
Faster Approval Speed
When you decide it’s time to add equipment to your business, you don’t want to get stuck waiting months for the funds to come through. With the expertise of a specialized lender, you can count on a streamlined process with fast approvals. You won’t have to waste time explaining what your business does and why the equipment is needed.
An experienced lender will already know the basics; you just have to fill them in on what exactly you need out of a financing plan.
Wider Credit Windows
Perhaps the most important benefit of working with an industry and equipment expert is their ability to work with start-ups and credit-challenged businesses.
By knowing the value of the equipment, the industry standards, and the state of the market, specialized lenders can provide a wider credit window that allows more businesses to get approved. While a bank may not be willing to take a risk because of their lack of industry knowledge, a specialist won’t shy away from lower credit scores or less time in business.
Beacon Funding's Equipment Financing Experts
For nearly three decades, Beacon Funding has been dedicated to providing affordable financing plans to businesses looking to acquire the following equipment types:
By focusing on select equipment types, Beacon has been able to develop a thorough understanding of these industries’ unique needs.
Why Work With Beacon?
When you work with Beacon, you’ll waste no time explaining what the equipment does or why your business needs it. Instead you can focus on getting what you need to grow your business with the help of a financing partner.
To further aid businesses in getting the equipment they need quickly with affordable monthly payments, Beacon has partnered with equipment vendors, dealers, and manufacturers. Apply with Beacon Funding today and see how you can get exclusive financing on industry-leading equipment.