Equipment Financing for Business - Business Credit 2020

What is equipment financing? In this video learn how to get equipment financing for your start up or existing business.

Equipment financing is a type of business loan used solely for the purpose of purchasing equipment. The equipment itself serves as collateral for the loan which makes it easier to qualify for compared to other types of business funding.

Did you know you can qualify with credit scores as low as 550? When it comes to financing or leasing equipment there are three parties involved, the lender, the borrower and the seller.

For our Equipment Financing program go to https://businesscreditbuilders.org/pre-qualification
For our Step-by-Step Business Credit Building system go to https://businesscreditbuilders.org/

The benefits of equipment financing over other types of funding are increased purchasing power, instant collateral, one hundred percent financing, fixed monthly payments and the potential tax advantages as well.

Another unique benefit is you can qualify for twenty five percent of the equipment value for soft costs. For example, if the equipment is one hundred thousand, you can get up to twenty five thousand in additional funding to use for soft costs.

Rather than pay cash or use your business credit lines to purchase the equipment; you have the opportunity to preserve your cash and credit with equipment financing.

One of the fist things you should do is make a list of what items you need and find out where you will get the equipment from. Whether it’s a vendor or private seller, get an equipment quote which outlines the costs, model number and serial number of the equipment you want to purchase.

Some of the types of equipment you can finance include but are not limited to office, medical and dental, security, communications, restaurant, auto and industrial.

Now, if the equipment you want to acquire is under seventy-five thousand than all that is needed for pre-qualification is the quote, personal credit report, four month’s bank statements and a signed and date equipment finance application.

For details on applying for equipment financing and/or business funding check out the following sites for additional information.
https://youtu.be/V_CjNb_CZtM
https://businesscreditbuilders.org/
https://businesscreditblogger.com/2020/05/02/get-cash-and-credit-for-business-fast/
http://triadcreditreport.com
http://businessfundingreview.com