30,000 hardscapers and landscapers attended the Equip Expo. Whether they’re installing pavers, grinding stumps, or digging, one thing’s certain – everyone is looking for a faster and easier way to landscape.
Compact equipment provides the productivity boost and labor reduction landscapers need. For example, one mini excavator operator can dig 64-96 cubic yards per 8-hour workday – replacing a crew of 3-4 workers trenching and grading. But how do you afford essential equipment like skid steers, track loaders, and mini excavators and who finances it?
If lack of capital is standing in the way, Beacon Funding can offer the hardscaping and landscaping equipment financing support you need. We’ve compiled answers to the top ten equipment financing questions hardscapers and landscapers asked at the Equip Expo.
In this article...
- What types of landscaping and hardscaping equipment can Beacon Funding finance?
- Can you finance hardscaping and landscaping equipment from any vendor?
- Does Beacon Funding work with hardscaping and landscaping start-ups?
- Does Beacon Funding require tax returns?
- Does Beacon Funding have age restrictions on the equipment they finance?
- Does Beacon Funding look at personal credit?
- Do you need to have business credit to get approved for equipment financing?
- Does Beacon Funding report to business credit?
- What are the benefits of financing landscaping equipment?
- What is Beacon Funding’s application process for hardscaping and landscaping equipment?
By the end of this article, you’ll discover how easy it is to add essential equipment without overextending your budget.
Top 10 Landscaping Equipment Financing Questions Answered
1. What types of landscaping and hardscaping equipment can Beacon Funding finance?
Beacon Funding specializes in financing new and used equipment used for landscape design, hardscaping and hardscape installation, lawn care, and forestry services.
- Finance landscaping equipment like: Backhoes, wood chippers, landscape trailers, skid steers, mini excavators, forklifts, stump grinders, mini wheel loaders, trenchers, and telehandlers.
- Finance vehicles for landscaping like: Dump trucks, forestry trucks, bucket trucks, and landscaping trucks.
2. Can you finance hardscaping and landscaping equipment from any vendor?
Yes, Beacon Funding can finance hardscaping and landscaping equipment located here in the United States.
If the vendor or equipment dealership is here in the U.S. or has a U.S. distribution center, we can help businesses finance it. Whether you’re looking at new or used equipment, there is a good chance we can finance it as long as it’s in good condition.
3. Does Beacon Funding work with hardscaping and landscaping start-ups?
After an equipment financing approval from Beacon Funding, Grow Care outdoor Solutions grew from startup to an Inc. 5000 company.
“When I first started my business, I had a hard time getting loans from banks because of my low credit score,” said Jose. “As a new business owner, it was tough to get the money I needed to grow my company. That’s when Beacon Funding came in and gave us the support we needed.”
4. Does Beacon Funding require tax returns?
No, Beacon Funding doesn’t typically require tax returns.No, Beacon Funding doesn’t typically require tax returns.No, Beacon Funding doesn't typically require tax returns.
In most cases Beacon Funding only requires 3 months of bank statements to verify your business financials for an equipment financing or leasing approval.
5. Does Beacon Funding have age restrictions on the equipment they finance?
No, Beacon Funding doesn’t have age restrictions.
While Beacon Funding takes age into consideration, we focus more on the overall condition of the machine vs just its age. Beacon Funding can finance new or used landscaping and hardscaping equipment from dealers or private sellers.
6. Does Beacon Funding look at personal credit?
Yes. In most cases, Beacon Funding reviews both business and personal credit to approve businesses for equipment financing.
Startups looking to apply for equipment financing are evaluated on their startup business plan, personal credit history, the equipment financed, and their industry experience.
7. Do you need to have business credit to get approved for equipment financing?
No. If you don’t have business credit, Beacon Funding simply looks at the personal credit to get you an approval.
Overall, Beacon Funding looks at 6 key approval criteria: business credit, personal credit, time in business, the equipment financed, financial performance, and transaction size. If you have questions, feel free to give us a call at 847-897-2499.
8. Does Beacon Funding report to business credit?
Yes. Beacon Funding reports each equipment financing payment to credit agencies.
This helps your company establish business credit and provides multiple long-term benefits.
Personal Protection: Establishing business credit through equipment financing helps separate personal and business expenses by creating a distinct credit profile for your business. This separation protects your personal credit from any negative impacts of business activities, simplifies accounting processes, and builds a strong business credit history.
Build Credit History: Each timely equipment financing payment your business makes increases your business credit score, making it easier to add more equipment in the future. Additionally, it enhances your company's credibility with lenders and suppliers, making it easier to secure favorable financing terms in the future.
9. What are the benefits of financing landscaping equipment?
10. What is Beacon Funding’s application process for hardscaping and landscaping equipment?
If you’re looking for an option with low paperwork, Beacon Funding has you covered. Applying for equipment financing with Beacon Funding is simple, free, and digital.
These are the three steps to our application process:
- Submit a quick online credit application: Required information will include the type of equipment you are looking to buy, the amount you’d like to finance, and your business details.
- Supply 3 months of business bank statement: Your financing consultant at Beacon Funding will walk you through the safe and secure sharing process.
- The application is reviewed: When a business is approved for equipment financing, they receive documents with the terms and their monthly payment. If you are happy with the terms, sign the agreement for your financing agreement or lease to begin.
There’s no commitment to applying: It’s your choice to move forward with financing equipment. Our goal is simply to let you know what we can offer so you can decide if it works for you and your business.