Whether you are a group of radiologists considering the purchase of new, potentially life-saving equipment or a construction company owner bidding on a large-scale contract, you are likely preparing to spend a substantial amount of working capital. If a major equipment purchase is key to your business’ growth in 2016, you’ll want to consider the financing options available to you to determine the right fit for your patients and/or your enterprise.
Bank Restrictions for Heavy Equipment Financing
If you have ever used a traditional lender, then you know the next step is to prepare to wait. There is no guarantee that your application will be approved, leaving you to wait for weeks or even longer. Even if you have the fortune of being approved, the funds may not be made available immediately. The loan may also come with a caveat – banks may require that you lease or purchase your equipment from a vendor they have selected, not a vendor of your choosing.
Banks’ lengthy timeline alone will deter many company-owners who are seeking an improved cash flow as soon as possible. This is when a reputable alternative financing company should be considered as well. Their application process is far shorter and does not require substantial documentation. Loan decisions are made quickly and are not usually based on the same stringent underwriting criteria as traditional financiers. Best of all, the money is made available quickly to borrowers who also have the freedom to select any vendor they wish.
If you are unfamiliar with the alternative financing industry, know that National Business Capital is a leading alternative financing company that assists business owners to obtain the working capital they require to run their business or practice. Our Business Consultants will work with applicants from any size business in any industry. We will assist applicants obtain heavy equipment financing through a specialized Equipment Financing program to locate the most effective option possible. For more information regarding our services please call us at (888) 888-9124.