Why Equipment Financing is an Important Business Funding Strategy.
Why Equipment Financing is an Important Business Funding Strategy?
For certain business equipment financing is a critical funding strategy for entrepreneurs and business owners who don’t have the luxury of rich friends and family. Or, for that matter, been turned down by banks and other lenders. It’s not that you got turned down, it’s who you work with. You might be a decline elsewhere, but a quality for others -“Other Peoples’ trash might be gold to others.”
Liberty Capital will provide the necessary capital to start, maintain, and grow your business without giving up equity or profit. Here are some key reasons why equipment financing is an important strategy for those businesses who are dependent on equipment to be productive.
Conserve Capital – Cash is king. Working capital is priceless. Having cash makes you nimble. Cash on hand is worth more today than in 3 years. Assets that depreciate is not a good use of working capital.
Maintaining Ownership – Unlike equity financing where investors take a share of your business, equipment financing allows you to retain full ownership and control over your company and build asset at the same time.
Tax Benefits -There are many tax benefits equipment financing can bring to your business. Most of the time it’s 100% tax-deductible, providing a potential tax advantage. See our guide to equipment leasing.
Inflation buster. Dollar today is worth more than dollar tomorrow. Payment today will be worth less in 5 years.
Building Business Credit – Taking out and repaying a loan on time can help build your business credit score, making it easier to secure future funding and negotiate better terms with suppliers and lenders. Equipment Financing is one of the best way to build credit. Your transaction just like most other form of funding, a UCC is filed to secure lender’s interest. You will have a UCC filing in addition to other business related reporting such PAYNET – PayNet is one of the leading financial tradeline focused credit bureaus. The primary score used by lenders using PayNet to make credit decisions is the PayNe?
Why Banks are Not Always Your Only Option.
Getting an alternative financing outside the banking world can be daunting. It can be intimidating but that is as much easier than the bank’s difficult and time-consuming process. Banks are picky when it comes evaluating the creditworthiness of a business. Thankfully, there’s another way. Liberty Capital Group alternative options make helping small business owners access millions of dollars in small businesses loans a breeze.
ONE APPLICATION MULTIPLE POSSIBILITIES!
Business Equipment Financing are easy to get. Here is why:
Approval Rate
We cater to A, B, C and D Credit Profile. All accepted.
Down Payment
Qualify for $0 Down Equipment Financing.
NO Industry Restriction
We will finance equipment from any industry.
New or Used
We are able to finance new or use trucks and equipment.
Nationwide Vendors
You find the equipment and vendors.
Soft-Cost
Taxes, Installation and Delivery Costs can be Financed
This is not a cash advance.
It will require minimum of 2 years business and personal tax returns is not necessary with our equipment financing programs.
Don’t pass up unexpected opportunities just because you are short on funds. Get the equipment your business deserves. Whatever your financial needs, we are here to help!
Wide Range of Terms
Monthly Term up to 10 years (2 – 10 yrs available)
Tax Deductable
Express Financing for Approvals Up to $75,000
Builds Credit
Builds business credit. Start up equipment financing OK.
Large Funding
Equipment Financing up to $500,000 per location.
Fast Funding
24- Approval. Funding in 2-3 business days
No Income Minimum
Approval based on debt ratio and cash flow.
We make it easy to grow your business
No Application Fee
A, B, C and D Credit Profiles
No Additional Collateral Required
No Prepayment penalty
Funding up to $5,000,000
Competitive Interest Rates
What are my options as a business owner?
Your Options as a Borrower.
Your have various business funding options but they all have caveat. These can start from credit score, time in business, industry, use of funds and the lenders that’s involved.
Equipment financing falls into the secured financing category. So, here are some you can read up without going deeper. That’s where we come in. We’ll work with you to determine the best loan for you.
Up to $1 million in as little as 24 hours
Our Equipment Financing Advisors are available to guide you through the funding process.
Instant Quote Online
Use our instant online quote calculator to get an accurate no obligation quote.
Apply Online
Complete our quick online application. Application takes 5 mins.
Review Your Options
We will contact you to review your options.
Get Funds
Money will be deposited in your account in as little as 24 hours.
HOW TO APPLY!
1. ONLINE APPLICATION: You can fill out our application, upload and authorized us to process your application. We do soft-inquiry, and our lender will do hard inquiries once you are approved for Equipment Financing only.
2. Equipment Invoice or Quote for the truck or equipment you want to buy. Multiple vendors accepted. We’ll lump them into one monthly payment for you. We’ll accept bill-of-sale for some private sale.
3. Banks statements (3-4 months) – Proof income, proof of banking, and proof funds availability in case down payment is needed and to match for ACH Payment Drafting – as an auto pay.
Are you an Equipment Vendor??
If you sell new or used trucks, trailers or machinery including medical equipment, we’d love to partner with you to offer highest approval rate for your clients. Our goal is to get them approved no matter what their credit profile might be. Working with Liberty Capital will give you a wider credit window so you can stop shopping for your clients. We do soft-inquiry for each applicant.
1. Check out how you can grow your vendor business using our financing options. View our credit guidelines here.
2. Download our equipment vendor package here.
All we need from your clients is a simple application.
1. ONLINE APPLICATION: You can fill out our application, upload and authorized us to process your application. We do soft-inquiry, and our lender will do hard inquiries once you are approved for Equipment Financing only.
2. Equipment Invoice or Quote for the truck or equipment you want to buy. Multiple vendors accepted. We’ll lump them into one monthly payment for you. We’ll accept bill-of-sale for some private sale.
3. Banks statements (3-4 months) – Proof income, proof of banking, and proof funds availability in case down payment is needed and to match for ACH Payment Drafting – as an auto pay.
Equipment Financing for Startups!
Credit Requirements for Startup Financing:
For startup companies, we require: Credit requirements Varies depending on the types of business loan. Here’s how you get your ducks in a row to make sure you make it easy for the lender approve you.
Ø Business license or active business entity registration.
Ø Personal guarantees from all owners – history matters.
Ø Minimum 650+ credit score.
Ø No bankruptcies in the last 7 years.
Ø No unresolved tax liens.
Ø No judgments, or repossessions
Ø Sufficient networth
Starts up in a sense can be subjective. Gov’t consider start up differently than a public company. Mom and pop start or small business start up? Hobby to a business start up?
Well it comes down to this:
Pre-revenue Start up – obviously no revenue yet. So, it’s difficult to get working capital or cash advance loans due to the fact that they base their decision on annual sales. Pre-revenue has limited option and one of the option that’s suitable type of funding for pre-revenue startup is equipment loan, equipment lease that’s not as hard process as SBA loan. You can qualify for an SBA loan as a start up but you have to have down payment, collateral or all your financials, projections, budget and master plan ready to go with it. Do you?
Post-Revenue Start up. – Post start up sales give you more options than a pre-revenue start ups. Now you’re eligible to get term loan, MCA, equipment financing and even SBA.
Contact us to get started! Apply for a start up loan here.
