Equipment Finance

We Have One Goal

Equipment Finance

There’s no denying that in farming, horticulture, agriculture, and their branches, a lot of painstaking effort and hard work, along with sweat and blood (the latter, metaphorically speaking). But the returns are always what’s easiest to look forward to.

When all is said and done, and when you’ve managed to care for your crops with diligence and stringency, albeit weather conditions have their own states of mind, once harvesting comes, you can pat yourself on the back for well spent toil. Its results, abundant and profitable.

Now, you’ve come face to face with the realization that there’s a looming need ahead of you and that’s to enhance work efficiency and in turn, productivity. You’re going to have to elevate the manner in which tasks are completed. More specifically, the machines you employ in said work.

Upgrading them and purchasing new types is definitely the answer. However, it isn’t going to be light on the pocket. In fact, it’s exactly the opposite. The bigger, better apparatuses tend to be hefty in price because of their industrial-use qualities— powerful, high-tensile, and unquestionably meant for heavy loads.

Instead of breaking the bank, there’s an option you should take into account. And that’s Equipment Finance.

What Is Equipment Finance?

Equipment finance is a means of taking out a loan that’s specifically adjusted to suit financing pieces of equipment. It’s an approach wherein you can instantly have the cash you need to acquire the device you’ve been setting your sights on for your land.

That, and it won’t warrant that you empty your bank account or even disrupt the cash flow of your profits. More on this in what their advantages are below.

Benefits Of Equipment Loans

A Variety Of Repayment Options

Unlike other kinds of regular loans, equipment financing has a number of repayment options that you can choose from. You won’t be locked in one that doesn’t have the flexibility of aligning itself with your actual income/ profits per month.

We strongly advise for you not to take out a regular loan but go for an equipment loan instead. Even the financial advisers of such loans can give you insight as to loans that are more acceptable for specific apparatuses and which ones, not so. This ties in with the next one.

Technological Advancements In Equipment

We’ve jotted this down as the second benefits because, in relation to the paragraph before, you’ll even be provided with options in reference to the latest devices. Equipment finance specialists have access to such information, you can simply ask away.

Working Capital Preservation

Keep your capital safeguarded and in lock-and-key as you continue to grow your business. You shouldn’t have to keep pulling out cash from it to supply equipment demands. Let equipment financing take care of that for you.

Flexible Repayments

Supplementarily, you’ll be delighted to know that these repayment options aren’t only economical. They’re also based on farming needs such as changes in weather and seasons which affect crop-development, and the like.

During times when your machinery isn’t able to set revenue in motion, there are alternatives to lower or defer repayments on those specific months and/ or seasons.

Lower Interest Rates

Oftentimes, the interest rates of equipment loans are comparable to that of housing loans. They’re easier to manage and don’t fluctuate in spikes that will leave you paying more for the interest rates themselves rather than the loan amount.

In conjunction with this, most are quite competitive if not already fixed. One less worry for you to be distressed about.

Exchanging Or Disposing Of Used Equipment

Here’s another add-on that a lot of farmer’s don’t yet know about. When you sign up for an equipment loan, it’s true that the apparatus is yours and yours alone. On the other hand, you won’t have to be fastened to it when the time comes for upgrading.

Simply visit your loan agency and they’ll have alternatives for you either switch your machine with another or outsource its disposal by selling it to other dealers. Either way, you won’t leave empty-handed.

Application Requirements

No-Frills, No-Stress Application

After seeking out the lenders of your choice, you can visit the one you most want to deal with and simply fill out an application form. Often, these loan agencies have online forms for an easier submission process.

If in-person, the same thing is true. Submit the form to a specialist. Granted, you’ve double-checked your standing and have a good credit history. As for credit score, many require only a 550. Others, 660 and above. So, clear this out with your lender first.

Into the bargain, your business has to be generating a somewhat steady flow of income as consistently as possible. Similarly, ask if there are down payments you should be aware of.

Upon putting a checkmark on these, you’ll only be asked to provide your business and credit documents, along with personal information, and you’ll know right there and then if your application has been accepted.