Get Pricey Items for Your Business Through Equipment Financing
At Heritage Capital Solutions, we understand it can be tough for a small business to be competitive. There are likely other businesses in your industry that already have access to the best equipment and tools in the marketplace. You may not be able to buy these items outright, but you can qualify for equipment financing. This consists of loans specifically designed to allow small businesses to get expensive equipment.
Reasons To Lease
You may not be able to own equipment, but you can at least lease it. This results in lower costs upfront. Businesses may not have a lot of excess revenue when they first get started to justify expensive purchases. However, your company still needs laptops, forklifts and anything else it needs to function. Other reasons to consider equipment leasing include:
- Free up cash for other expenses
- Predict what you will need to spend each month to stay afloat
- Reduce your taxes via Section 179 of the U.S. tax code
- Eliminate repair and replacement costs because the company you lease from takes care of all that
- Preserve all of your existing lines of credit
Different Programs Available
Before getting too far into the application process, you will need to know what program to pursue. There are startup programs meant for companies less than two years old. These new companies can quickly gain success by being better capable of manufacturing products or offering services.
There are also sale and lease back programs. With these, you utilize equity in equipment you already have. We would purchase the equipment and lease it directly to you. Once you have made enough monthly payments, you would own the item in full.
Government and municipal leasing programs are beneficial for fire houses, public schools, state agencies, police departments, libraries and more. Business with poor credit should look into B, C and D credit programs.
Get in Touch Today
You should never go without essential equipment. Contact us today to get financing for your company’s needs.