Let’s face it: committing to a big purchase for your business is a daunting but necessary prospect.
The saying, “You have to spend money to make money,” doesn’t apply only to marketing and advertising. After all, having the people, power, and equipment to meet customer orders would be best – especially when your vision, hard work, and planning cause your business to take off.
So, while it may be tough to imagine spending $150K or more on your business, it is often essential if you want your business and your competitive edge to continue growing.
That said, the decision to bite the bullet and spend the money shouldn’t be made in a vacuum. Taking the time to consider and answer these eight questions will help you crystallize your next steps.
- Do you need to purchase new equipment, or will used equipment suffice?
- What is the total cost? Are there delivery and installation fees? How about staff training? Will the equipment be expensive or difficult to maintain?
- Which vendor is the best for what you need?
- Is there a best time of year to buy the equipment? Will it be cheaper at year-end?
- Here’s a question for the accountant: Will the new equipment be deductible, and for how long?
- Here’s another question for the accountant: Which makes more financial sense, paying upfront or taking out a loan to pay back over time?
- Will the equipment fit future growth and production goals?
- How long will it be before the equipment pays for itself?
Once you’ve answered these questions and determined your next steps, we are here to help make them a reality. We will explain the different loans available to you and help you find a financing solution that best fits your budget and the big picture.
Drawing on close to 35 years of experience helping companies like yours succeed in achieving the American dream, we will help you find the best loan, at the best terms, for your particular growth needs. We will steer you to the lenders that are best suited to your situation.
We pride ourselves on staffing our office with commercial loan officers who have studied and worked hard to get to where they are today. Some of us are entrepreneurs who have launched, grown, and sold companies, so we know from our own experiences the challenges you are facing.
Please think of us as one tool in your business-growing tool kit. There’s you, your vision, your staff, and your dreams, and when it’s time to fund your next step, there’s us, working with you to finance equipment transactions of $150,000 and up.
We look forward to helping your company prosper. Request a Free Quote Today!
