Would you like to get money to buy or lease equipment for your business or maybe
you already have equipment or know somebody else that does and you'd like to use that equipment
as collateral to be able to borrow against to get money. Well during this training I'm
going to talk to you all about equipment financing, equipment leasing, and equipment
leaseback teach you how they work and teach you how to get approved.
By the end of this training, you're going to understand how you can get financing for
equipment even if you have bad credit even if you don't have any other kind of collateral and even if
you have no cash flow, you're going to see how to get approved even if you're a startup business even
if you've been denied before. I'm going to decode what equipment financing is and teach you how to
get it even when you can't get other kind of financing we're going to talk about equipment
leasing and show you how to get equipment with very low payments and little to no money down, and
I'm going to decode equipment sale-leaseback a program most entrepreneurs know nothing about
where you can take somebody else's pieces of equipment or your own borrow against it and get a
bucket of cash. We've got a lot of stuff to cover today and along the way, I'm going to sprinkle in
tips and tactics to help you get approved for the most money at the best terms and if you stick
around at the end, I'm going to get you access to our funding vault, full of 27 killer ways that you can
get money for your business. We've got a lot to cover in this training, so let's get started
let's start with equipment financing, I love equipment financing, first of all you can get
approved even with really bad personal credit and you can get approved as a start-up business. Now
what's nice about equipment financing is that you can get specified money for the purpose of
purchasing equipment so you don't need to tap into other sources of credit or cash that you
may have access to. So let me give you an example, a client of ours actually was starting a
new doctor's practice and she needed a very big piece of equipment. So she came to us as many
people do to get a credit line to purchase that piece of equipment, we introduced equipment financing to
her and we went to and got her approved for equipment financing to buy that piece of equipment.
Now she needed a first and last month's payment down as down payment that's it, so then what we
did was we turned around and got her a credit line and used the credit line to pay for the first and last
month's down payment. Now she got the equipment that she needed she got the credit line
she wanted but the credit line had very little balance on it she could still use the credit line to grow her
new startup business because equipment financing was used for the purchase of that actual
equipment. That's how powerful equipment financing can be, there's no reason to tap into credit
lines credit cards or loans for the purpose of getting equipment when there's specified financing
called equipment financing for that purpose. So with equipment financing you can get the
money you need even with challenge credit even as a startup business with as little as first
and last month's down payment to be able to buy new equipment, now you can buy used equipment
as well now equipment leasing is very similar to equipment financing. The difference is
typically with equipment leasing you need to be in business one year or more
and you need to have better credit. The benefit of equipment leasing is is that you typically
get better terms which means you have lower payments. Now the third type of equipment
financing is called equipment sale-leaseback this is something most entrepreneurs know nothing
about. With equipment sale-leaseback you're ultimately taking equipment you already own or
maybe somebody else's , so maybe you have a grandfather maybe you have a dad a mom maybe
you have a brother or sister or a family member a friend that actually has a piece of equipment that's
worth some money, you could borrow against that equipment whether it be yours or somebody else's
you basically sell it to the bank they lease it back to you it's called equipment sale-leaseback.
So ultimately you're taking equipment you already own you're leveraging it as collateral to go and
get cash where the lender will then give you money where you're borrowing against that equipment
you already own free and clear. So three powerful ways that you're able to be able to get money for
equipment purchase or to borrow against equipment you already own. So a lot of benefits here
first of all you're able to get approved for as much as 20 million dollars typically with equipment
financing. You're also able to qualify for multiple different forms of equipment financing as well
there's all kinds of financing available from SBA 504 loans where you can get approved with really good
terms all the way down to hard money loans where you can get approved with worse terms but even if
you are a very high-risk borrower. Interest rates wildly vary on all three of these equipment
programs, for example, the highest interest rate I've ever seen on any kind of funding program was
equipment financing. The guy was very high risk credit was horrible when he qualified for a 60%
interest rate 60% but the interesting thing is is he bought a tree to stump her for a golf course
didn't even know that existed. And in doing so he actually lowered his payments $10,000 a month
from the manual labor he was paying. This is why I often say interest rates don't matter, interest rates
are based on risk if you want a lower interest rate you have to lower your risk. But as long as the
deal makes sense and in that example saving $10,000 a month made a lot of sense then
you're even able to write off the interest that you have on that equipment. Now on the
low end I've seen interest rates as low as 6 or 7% so what's that range caused by it's
caused by risk. And risk is determined by things like your industry your time in business your
business credit quality and your consumer credit quality, but mainly what the lender cares about is
the equipment itself and your ability to repay that debt .So with equipment financing this is a
type of collateral based product it's way easier to qualify for anything you're using as collateral
because the lender could just take the collateral if you ever default. So this is one of the easiest
kinds of financing to qualify for versus unsecured financing or versus other kind of financing that
are based on things like your cash flow or your consumer credit quality. So they might look at your
cash flow but it's not really a big driver to the approval nor is credit. The credit is just being
looked at to make sure that you have some kind of track history of paying back your debts is agreed,
because again their main concern is that you're going to actually pay back the loan or the lease
that you actually get. So equipment financing very powerful way to get money you need to buy
equipment or borrow against equipment you already have you're able to typically get approved in
2 to 3 weeks. The lender is going to want proof of the equipment itself they're going to want the
specs they're going to want the details so they can get an evaluation of the actual equipment,
again they're going to look at your credit report they may look at some revenue verification but
it's the equipment itself and your ability to repay that debt that they care mostly about.
So equipment financing, equipment leasing, equipment sales leaseback 3 powerful ways
to get money to borrow against equipment you have or get new equipment. If you'd like to get
approved go to creditsuite.com/getfunding and to access our funding vault of 27 killer ways
to get money for your business. Visit us online at creditsuite.com/27ways
that's creditsuite.com/ the number 2 the number 7 ways and don't forget
to give us a call for a free business credit funding consultation at 877-600-2487.
On that consultation, we will do a funding assessment to look at your findability, we look to
see all the things that are wrong with your actual structure of your business that will prevent you
from getting the money that you want and deserve to have. Will help you fix those fundability issues
so you have the best chance of getting approved for the most money at the best terms, will help
you get your business credit reports for free they're $249 from the credit bureaus we'll help you
get them at no cost we'll even give you tips and tactics for building business credit for your EIN
that's not linked to your personal social. And on that consult call we'll do a funding assessment to
talk to you about all the funding you can qualify for right now look you can might qualify for loans
you may qualify for credit lines right now, and not even know it, all of that is disclosed on a free
consult call with us you can get that consult at 877-600-2487 just by giving us a call, or you can
go to creditsuite.com/consult if you got value from this please like and subscribe and
that way we can get you even more training on cool ways to get money to start and grow your business.