Building business credit is important for any company that wants to grow. At Beacon Funding, we offer quick equipment financing to make it easier for you. This helps businesses get the tools they need and also build strong business credit.
When you work with Beacon Funding, your clients can build better business credit over time. This means they can come back to you for bigger equipment, and more often! That’s good for your business, too.
In this article...
- How Equipment Financing Builds Credit
- Why Is Business Credit Important?
- Example: How Credit Builds Over Time
- Benefits of Building Business Credit
- Support for Startups and Low-Credit Businesses
- Why Beacon Funding Is a Better Choice
- Final Thoughts
How Equipment Financing Builds Credit
We report each payment your client makes to major business credit bureaus when they get equipment financing from Beacon Funding. These reports help your client build a good credit history.
Their credit score goes up as they keep making payments on time. This stronger credit helps them prepare for bigger loans in the future. It also gives them more options when buying or upgrading equipment.
Your customers return later for even bigger purchases from equipment sellers like you when they build credit with us. A win for everyone!
Why Is Business Credit Important?
Business credit shows how a company handles loans and payments. When lenders check credit, they look at a few key things:
- Borrowing History: How does a business handle loans compared to similar ones?
- 50% Indicator: A company that has paid off at least half of its loans is seen as more trustworthy.
This helps lenders decide if your business will likely pay back loans on time. A business can grow faster if it shows how well it handles money, even starting with small loans.
Helping your clients build good credit helps them succeed. And when they succeed, they come back to you for more equipment. That’s how you can create long-term relationships and more business for you.
LEARN MORE ABOUT BUILDING BUSINESS CREDIT
Example: How Credit Builds Over Time
Want to see how business credit builds in real life? Let’s take a look.
Imagine a new business startup with a zero credit score. They might only get approved for a $100,000 loan. This is not enough to buy all the equipment they need to start a successful business. Paying with cash is risky, and using personal credit can hurt the owner’s finances. So, what are their options?
Your clients can improve their credit score if they start with Beacon Funding. They can improve their business credit with time as they make their first 12 payments on time. Soon, they can get approved for financing of $200,000. After two more years, maybe $400,000. And in four years? They might get $800,000, and so on.
When they make payments, they build trust. That trust helps them grow.
Benefits of Building Business Credit
Good business credit brings lots of helpful benefits:
- Keeps Personal and Business Money Separate: Your personal savings and credit scores stay safe.
- Better Loan Terms: Higher credit scores mean better loans and bigger limits for future financing.
- Save Cash: Loans let businesses make smaller payments instead of using all their cash at once.
- More Trust: Lenders and suppliers are more likely to work with a business that has good credit.
- Tax Benefits: Businesses can save a lot on tax bills with Section 179.
- Room to Grow: Hiring staff and growing your business is easier with more payment plan options.
- Protects Personal Credit: Business loans won’t affect the owner’s personal credit score.
Building strong credit takes time, but the benefits can help a business grow faster and stay strong, even in tough times.
EXPLORE MORE BENEFITS
Support for Startups and Low-Credit Businesses
Many new companies struggle to get loans from banks. This is because they don’t have credit yet, or their credit score is too low. At Beacon Funding, we believe those businesses still deserve a chance.
Beacon Funding has been helping thousands of companies get the payment plans they need since 1990. We offer loans designed for new businesses and those with credit challenges.
We don’t only look at credit scores like other banks. We look at your potential. We report good payment history to credit bureaus so your business can build or improve its credit over time. This helps your business get better payment plans or loans in the future.
SEE HOW IT WORKS
Why Beacon Funding Is a Better Choice
We Know Equipment
We’ve been in the equipment financing business since 1990. We work with companies in many fields looking for many equipment types, like tow trucks, screen printing, embroidery, landscaping trucks, skid steers for landscaping, septic trucks, and more.
We can offer better loans than many banks because we really understand the value of the machines our customers use.
So far, we’ve helped almost 30,000 businesses and financed more than $2 billion in equipment. We approve about 70% of all applications we receive.
We also have a 4.3-star rating on Google and an A+ rating from the Better Business Bureau since 2009. Our BBB customer score is 4.8 stars. These ratings show that we really care about our customers.
What Our Clients Say
Carla Dooley from Promos Ink shared this about her experience:
“Banks and credit unions have lots of rules. It takes 30-45 days to finish anything. Beacon didn’t have those issues. They were much easier to deal with. I highly recommend them.”
Our fast and friendly service is one reason customers choose us again and again.
Fast Approvals and Better Chances
Your clients will be able to get bigger and better equipment as they build business credit through Beacon Funding. And when they do, they often come back to the same business for more upgrades and new tools.
This creates more sales and stronger partnerships for vendors like you. When your customers succeed, your business grows too.
Beacon Funding gives you tools, payment plan options, and support to help both you and your customers successful in the business market.
Helping You Keep Your Customers
We don’t just provide loans. We also help you keep your customers happy and returning.
Here’s how Beacon Funding supports you:
- Regular Follow-ups: We stay in touch with your clients to find flexible payment plans that work.
- Best Sales Reps: Every client gets support to guide them through the lease process.
- Quick Approvals: Many clients get approved within 24 hours, so they can get what they need fast.
We work hard to help both you and your clients succeed.
CONNECT WITH EXPERTS
Final Thoughts
At Beacon Funding, we’re here to help your clients grow. Our fast equipment financing helps them build strong business credit, save cash, and get better loan options. That leads to more growth and more chances to buy from you.
We stay in the loop when your clients apply through us. That means we can support them every step of the financing process.
Download our FREE ebook to see how a partnership with Beacon Funding benefits you and drives more sales
DOWNLOAD FREE EBOOK
Together, we can grow your client base, make your business relationships stronger, and bring more sales. Let’s build something great. Starting today!