Everything You Need to Know About Equipment Financing
If your business is growing, equipment upgrades can be necessary. Most small and mid-size business face the challenge of capital to acquire the equipment. Bluefin Capital is here to aid in the challenge and allow you to achieve the equipment you need to grow revenues while reserving cash flow. Here’s everything you need to know about equipment financing and leasing, and how Bluefin Capital can help.
What is Equipment Financing?
Equipment financing is a type of funding, or small business loan designed specifically to purchase machinery and equipment for your business. It allows your business to continue being successful by allowing you to purchase the right equipment as soon as you need it. The purpose of equipment financing is to make this process of purchasing necessary equipment easy for your company.
There are a few considerations to keep in mind when deciding to apply for equipment financing, such as cash flow, amount of time you require to pay off the financing, monthly payments amounts, types of equipment, and your credit history.
The Benefits of Equipment Financing
Ability to Trade-up to Newer Equipment
Leasing also allows you the flexibility to easily trade in your equipment for newer and more modern machinery at the end of the lease term.
Little or No Out-of-Pocket Upfront Cost
Because you are using equipment financing, you typically are not required to make a down payment permitting minimal upfront cost.
Lower Monthly Payments
You will invest in your equipment over the course of the equipment lease or finance term. This means that your low monthly payments will increase the return over the term furthermore allowing time value of money to work on your behalf lowering the cost of your equipment investment.
Option to Purchase
Depending on the arrangement best for your business and tax advantages associated, you can own the equipment outright at the end of the term or choose to return the equipment if it no longer meets your needs. Speak with our representative to discuss the best options to meet your needs.
What Can You Use Equipment Financing For?
There are no limitations of what you can use equipment financing for—you can use it to buy or lease any new or used equipment necessary to operate your business. Generally, most small business owners use equipment loans to buy specialized machinery, including X-ray machines, tractors, industrial ovens, delivery trucks, office furniture, healthcare equipment, and more.
Equipment financing even includes the purchase of intangible assets such as business-related software like property management platforms. These loans can really cover an extremely wide range of equipment needs in virtually any industry.
How Bluefin Capital Can Help
With Bluefin Capital, equipment finance agreements are specifically designed to help you purchase and finance business essential equipment, and keep more cash in your pocket. We offer financing options for vehicles, technology, software, machinery, and many other types of equipment necessary to your business operation. If you’re looking to secure financing quickly and easily, partner with Bluefin Capital. Start by filling out the form below to get in touch with us today to see how we can help your business secure financing for equipment.
Get in touch with us to learn how we can help you secure Equipment Financing
Restrictions: Bluefin Capital provides financing for registered businesses only, no personal loans. The minimum loan amount you may request is $10,000.