So how do you use equipment to get financing well I'm about to show you several different
ways that you can actually get the money you need to buy equipment lease equipment or even
borrow against equipment you or somebody else may own to get a low interest rate line
of credit or loan, I'm going to show you how to get equipment financing even if you have
challenge credit. I'm going to show you how to get approved for equipment financing even if you
can't get approved for other kind of financing even as a startup or a high-risk business
I'm going to sprinkle in some of my best tips along the way to get you the most money at the
best terms and if you stick around to the animone tracks to our funding vault of 27
killer ways to get money to grow your business. We've got a lot to cover so let's dive in.
So there's 3 main types of equipment financing you should know about and in this training we're
going cover all 3. So let's dive in and start with equipment financing itself so equipment
financing is where you go out to actually get the money you need to buy equipment, so you're
actually coming in finding a piece of equipment you need to start or grow your business and you can
actually use equipment financing to purchase that equipment, you can get approved for almost all of
the cost of the equipment excluding the first month and last month's payment that's about all that's
required down payment wise for equipment financing, plus you can get this even as a startup
business. So equipment financing is available for brand new businesses for startups it's available
even if you have challenge credit and again all you often times need is just their first and last month's
payment is down payment, and there's a lot of other creative ways to get the money you need
financing wise to cover your first and last month's down payment as well. Now what I love about this
kind of financing is you can get it as a new business you can get it if you have credit issues it's
fairly easy to get approved for, so you can get the equipment that you need to start your business and
grow your business using this kind of funding. Now the second type of equipment financing you should
know about is equipment leasing and equipment leasing's very similar to equipment financing
you can actually use it to lease the equipment that you need to start and grow a business,
but you need to be in business about one year in order to qualify for equipment leasing and the
credit requirements a little bit more stringent than equipment finance. You typically need a 620
fico score longer and one year time in business in order to get approved. The benefit with equipment
leasing is the terms are typically better than what you're going to find with equipment financing
so it's a little tougher to qualify, but it's also going to get you lower interest rate longer term
meaning lower payments. So with equipment financing leasing are 2 different options to lease or
purchase the equipment you need to start or grow your business. But there's still one other type
of equipment financing you should know about it's a secret kind of financing a lot of entrepreneurs
know nothing about, it's called equipment sale leaseback. Now this is a really creative way
of using financing because you can actually borrow against equipment you already own or somebody
else already own, so you have to own the equipment or that person has to own it it can't
already have a lien or lease against it, but if you own a piece of equipment free and clear or somebody
else you know does and you could use that as an asset to actually qualify for finance, you know the
nice thing is your credit quality doesn't matter revenue doesn't matter you can use this kind
of financing even as a start-up business, all you need to get approved is a piece of equipment
worth some value whether you own it or somebody else. So let's say you own old backhoe that's sitting
in your backyard let's say your grandpa owns an old backhoe in his backyard well you can use that
backhoe as collateral to be able to get financing and borrow against it and get as much financing
as 50% of the actual value of that equipment plus you get pretty low-interest rates in good terms
even if you have credit issues even if you're a new business, so this is a very creative way
to use an asset that you may just have laying around or somebody else you know
may have laying around to actually be able to qualify for really low interest rate financing
to start and grow your business. And with that you now have access to 3 different ways
you can use equipment to get financing you can use equipment financing even as a startup
business or with challenge credit equipment leasing when you're lower risk to actually purchase or lease
the equipment that you need, you can even borrow against equipment that you or somebody else
may own with equipment sale leaseback. When access to even more cool ways to get funding
then grab our funding vault at creditsuite.com/27ways that's
creditsuite.com/the number 27 the word ways to access our funding vault of 27 killer ways
to get money to grow your business, and if you want to know all the money you can get
right now then give us a call for a free consultation on that consultation we will
tell you all the credit lines and loans you can get approved for right now we'll get your business
credit reports with Dun & Bradstreet, Equifax, and Experian for free they usually cost 250 bucks
for the bureaus. we get them for you at no cost go over them with you give you tips and tactics
to improve and build your business credit and we'll do a fundability assessment to help you
fix the structure of your business to avoid a lot of the problems that get entrepreneurs turn down.
and to make yourself more lendable you can grab that free consultation by giving us a call at
877-600-2487 that's 877-600-2487 or you can schedule online at creditsuite.com/consult
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