Build Your Business by Getting the Financing to Upgrade Your Equipment
Equipment is fundamental to the operation of your business. Whether you are a coffee shop or a manufacturer, out-of-date or broken equipment can be costly and impact the quality of your product or service. If you don’t have a reserve of capital on hand, you may want to consider a loan to invest in equipment to either maintain or grow operations.
If an equipment purchase is needed to extend your product or service line or increase the efficiency and production of what you currently offer, then a business loan can help you cover the up-front cost and meet your existing obligations. Getting equipment loans for your business can be very frustrating when going through traditional lenders, that is why we are here to help!
Why Get Financing to Purchase New Equipment?
If you want the benefits of owning equipment but don’t have the capital to make a purchase, then an equipment loan may be a good option for you. Some of the key benefits include:
- Preserves working capital: With an equipment loan you can spread the cost of the purchase over an extended period (i.e. up to 2 years) and retain ownership.
- Flexible terms: While not all equipment loans are flexible, some online loans specifically designed for Canadian small businesses (such as those offered by Lendified) offer highly flexible and customizable terms, with no early repayment penalty.
- Fast and simple: If you need equipment fast to replace or repair broken equipment or to take advantage of an opportunity, an online lender such as Lendified is your best option. The application takes minutes, is processed online, and you can qualify in minutes. If approved, you could get access to cash as early as the next business day.
If you are struggling to get the equipment you need Lendified can help you by providing a quick and easy way to get the capital you need so that you can get the equipment in your hands as soon as possible!