How Equipment Financing Can Help Your Business Succeed

Having the correct equipment and technology is essential for the success of any company, especially in the modern age. However, purchasing new equipment outright can be a significant financial burden, as is replacing faulty or damaged equipment in order to keep operations running smoothly.

 

This is where Equipment Financing comes in – a strategic funding option that can help out in case of emergencies. However, the advantages of Equipment Financing go beyond just that one scenario. Let’s find out how.

WHAT EXACTLY IS EQUIPMENT FINANCING?

In short, Equipment Financing is a type of funding solution that allows companies to borrow money to purchase new equipment, vehicles, or technology, on an as-needed basis. However, instead of paying the full amount upfront, they instead finance the equipment and make regular payments over a set period of time.

 

This makes expanding operations a straightforward and advantageous affair, particularly for businesses still in their first few years of operation, and wish to accelerate their growth trajectory. For instance, high demand for a product may necessitate the immediate purchase of more equipment in order to deal with the influx of new business, which is a good problem to have, but a problem nonetheless. On the flip side, an unfortunate breakdown of a key piece of equipment may require immediate replacement. 

 

Traditional lending sources, such as banks, tend to operate slowly when processing applications, with no immediate guarantee of approval. Equipment Financing from a third-party alternative lender, such as Essential Capital Solutions, can make obtaining your funding a far easier, and much quicker process – sometimes in as little as 24 hours.

THE BENEFITS OF EQUIPMENT FINANCING

1) ACCESS TO NEW EQUIPMENT

Equipment Financing provides you the ability to purchase new equipment in order to scale your business, or replace damaged or outdated equipment in order to remain functional and competitive. This could be a new fleet of vehicles, a state-of-the-art manufacturing machine, or the latest software that can give you a leg up on the competition. 

2) REDUCED CAPITAL EXPENDITURE

When you finance your equipment, you end up reducing your upfront capital expenditure, while preserving working capital. This can help you immensely if you decide to invest in other areas of your business, such as marketing, the hiring of new staff, or expansion of your existing operations.

3) IMPROVED CASH FLOW

Equipment Financing can also help improve financial structure by allowing you to make regular payments over a set period of time. This is a huge help, especially if you wish to manage your cash flow more effectively, and make strategic decisions that will have a direct impact on the growth and prosperity of your business.

4) INCREASED PRODUCTIVITY

When you are in possession of new equipment and technology, you automatically stand to increase your overall productivity and efficiency. This can help you take on more clients, increase your revenue, and grow your business at a much faster rate than you would have ever thought possible.

QUICK, NO-HASSLE FUNDING

When you choose the right Equipment Financing provider, you can take your business to the next level. It’s just that simple. Don’t allow financial constraints or initial hesitation to hold you back. Equipment Financing is a tool that can be used strategically for the benefit of your business, thereby keeping you at the top of your game.

 

When it comes to providing fast, efficient and hassle-free Equipment Financing, Essential Capital Solutions cannot be beat. Our team will process your application quickly, so you can obtain your funding right away. From there, you have full control over how you invest that money into your business. We put the power in your hands, so you can forge your company’s destiny with full assurance, and backing. Call us today for more info!

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