It’s not always necessary to invest a huge sum of money to purchase needed heavy equipment for your business. One way that you can make a heavy equipment purchase affordable is through asset-based financing. As opposed to conventional loans through a bank, asset-based lending does not really require outstanding credit history, so if your company hasn’t been in business for very long, this may be a legitimate option for you.
Asset-Based Financing for Heavy E
The beauty of asset-based financing is that it allows you to use assets you already own for your business as collateral to obtain the capital you need to make your business grow. There’s no requirement to undergo a rigorous credit check or a difficult loan approval process. Instead, the value of any assets you offer as collateral can determine the amount of any loan you are given. Every business has assets which can be used, because even your existing inventory or your accounts receivable may be considered acceptable forms of assets to base a loan upon.
How the Process W
It’s always best to work with a lending company which has previous knowledge of the specific kind of equipment that you’re trying to obtain. When you’re working with asset-based financing, it’s very important to have a clear understanding of all terms and conditions, because some companies do include charges which make the equipment financing transaction less appealing.
All it really takes to set up asset-based loan is to find an appropriate financing company and to discuss the value of assets that you own which may be acceptable to the lender as collateral. From there, it’s generally a very quick process to write up the documents and obtain the equipment financing you need to achieve your business objectives.
inancing with Capital Connex
Equipment financing can provide your business with the boost it needs to get to the next level. At Capital Connex, we have provided equipment financing to help many companies achieve their business goals. Contact us to find out about some opportunities for equipment financing that could really help your company grow.