Cheddar Capital Blog

Equipment Financing for Business Owners (All to Know)

Healthy cash flow is essential for all types of businesses, including new and emerging ones. An equipment leasing company can provide your company with an immediate financial boost that will allow you to compete more effectively in the marketplace.

It can provide your company with new or used industrial or commercial equipment at rates typically lower than bank loans. This means increased profits for you because you can still run your business and expand with the right equipment.

Leasing is…

An Option to Buy: Leasing enables you to buy the equipment you need without coming up with the entire purchase price. And, when your business no longer needs or can’t afford that piece of equipment, you’re not tied down by it because you don’t even own it in the first place.

Faster Than Bank Loans: Leasing lets you get the money you need in a shorter period than when you apply for a loan from your bank.

An Option With No Credit Score Requirement: You don’t have to have excellent credit or even any credit to get equipment leasing. If you can make regular lease payments and maintain insurance on the equipment, you qualify for leasing the equipment that best suits your business.

Low Rate Options: Leasing provides you with the flexibility to pay for your equipment without paying off the principal or interest, giving you a lower rate and more manageable terms.

Long Terms: Compared to other loan options like credit cards and personal loans, leasing offers more extended repayment periods, giving you the ability to bypass short-term issues and focus on the long-term needs of your business.

You Can Satisfy Your Equipment Wants: Leasing doesn’t limit you to a set amount of equipment, so you can use the money leased to pay for what you need — whether it’s one piece or multiple pieces.

Fast Approval: The leasing process is normally faster than going through a bank. Your company is approved for a lease in as little as 24 hours after you submit all the necessary documents.

Easy Payments: Leasing also makes it easier for your finances because there are no large, lump-sum payments due at the beginning of your agreement. Instead, you simply make monthly lease payments, just like you do for your other bills.

No Extra Charges: Leasing costs are controlled because your company doesn’t have to worry about paying for maintenance or repairs since they’re the leasing company’s responsibility.

Seamless Process: The leasing process is seamless, which means you will get the equipment that best suits your company’s needs.

Early Payoff Discounts: You have the option to get your leased equipment paid off early. If you do so, you can reduce your total costs by taking advantage of early payment discounts offered by most leasing companies. With a lower monthly payment, you can save money.

Competitive with Banks: Leasing comes with lower rates than bank loans (usually only available to established businesses), and leases let you take your equipment needs one step further.

Family Owned and Operated: Cheddar Capital Partners Capital is family-owned and operated in Tennessee; we’ve been in business for over 12 years, since 2009.

Thank you for your time and consideration.

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Disclaimer: Cheddar Capital keeps its information as accurate and as up to date as possible. This information can be different than your financial institution offerings, products, or services. All pre-qualified offers and approvals are subject to credit review and final underwriting. If you find discrepancies with your credit score or information from your credit report, please contact Experian® or Equifax® directly.

*Subject to underwriting and credit approval, not all applicants qualify for same day funding

California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License