Small Business Equipment Loans

Almost every business has use of some type of equipment. As businesses grow they expand and often will acquire more equipment assets. Some businesses in this economy have chosen to refinance their equipment loans in an effort to improve cash flow and survive the downturn. For most businesses equipment financing is an important part to growth and success.

The terms and interest rates for equipment loans vary greatly. Some equipment distributors will lease or seller finance equipment to your business. They will normally have easier credit guidelines for approval and charge you more in the interest rate. This may be a convenient option for you if you don’t want to hassle with the traditional sources for small business equipment loans.

Remember that a quick fix can absorb more cash flow for your business. For this reason it is often worth the hassle and due diligence of traditional financing. Interest rates and terms will be more favorable saving you thousands in interest expense a year. Currently we are looking at an equipment refinance that will cut the business payments in half by simply restructuring the debt with traditional lending sources.

Whatever your equipment needs are, make sure you take the time to analyze your options. This will ensure the best decision for your business today and in the future.

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