Sentences with phrase «because equipment loans»
Because equipment loans are secured by the equipment you're purchasing, they typically have more lenient requirements and require less documentation than a traditional term loan.
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7 (a) loans are often used to purchase assets like real estate and equipment because the terms make sense for those larger purchases and allow the borrower to repay the loan in terms compatible with the asset being purchased.
Because in some situations, a lease can cost more than a loan, many businesses choose to finance the purchase of equipment rather than lease.
The lending standards on equipment financing can be less strict because your equipment will be used as collateral for the loan — in other words, if you default, the bank has the right to seize your equipment to cover the cost of their lost money.
Because of the longer terms, these loans can be used for serious investments in your business, such as long - term equipment purchases, large inventory purchases or business expansion.
Many 7 (a) loans are used to purchase assets like real estate and equipment because the terms are favorable and allow you to repay the loan in terms compatible with the life of the asset being purchased.
Because Currency is an equipment financing marketplace, you'll see a wide range of loan offers with varying loan amounts (up to several million dollars), terms and interest rates.
Because 504 loans are specifically designed for these purposes, they are the best option between the two if you are purchasing or building property or investing in long - term equipment.
When borrowing to meet needs like purchasing expensive, heavy equipment, expanding into a new location, or building a new warehouse, a longer - term loan can be a good fit because the longer term allows the borrower to reduce the amount of the periodic payment over the course of the loan and better match to the productive term of the equipment.
Because the loan is backed by collateral (i.e., the real estate or equipment being financed), rates from banks will frequently be on the lower end.
Leases are often easier to qualify for than loans or credit lines, because the equipment itself serves as the lease's collateral.
The paperwork for a small business loan for equipment is surprisingly minimal and is offered at a much more reasonable rate than your average merchant cash advance, and you don't have to worry about getting turned down for equipment financing just because you don't have a high credit score.
Many 7 (a) loans are used to purchase assets like real estate and equipment because the terms are favorable and allow you to repay the loan in terms compatible with the life of the asset being purchased.