Finding the financing for new equipment doesn’t have to be a painful process, especially if you go about it in a systematic manner. There are four simple steps which should be followed so that you can get whatever new machinery is needed to help your business grow, and so it can help you get to the next level of operation.
Apply for Funding
The first thing to remember about seeking a financing partner for new equipment is that’s very important to work with a company that is associated with your specific industry. This will make it much easier when you’re trying to convince them of the need and the cost for any new equipment. Generally speaking, all you have to do is fill out an online application, discuss terms with the consultant, and then provide all the relevant financial documentation.
Once you’ve submitted your application, the consultant will generally review it thoroughly, and either ask additional questions of you or approve it as is. In some cases, approval can come in less than 24 hours. If it’s important for you to acquire fast approval, you should look especially for those companies which claim fast turnarounds on decisions.
Sign the Agreement
After you’ve been approved for equipment financing, and all the details have been finalized, you’ll be able to sign an agreement with your financing company. It will probably be an electronic agreement, and after it has been completely setup, some kind of arrangement will be made for delivery or pickup of your new equipment.
Receive the New Equipment
At long last, your new equipment will be delivered to you. Once it arrives, you should give it a thorough examination to make sure it’s in good working order, and then provide confirmation that you have received the correct machinery. At this point, your leasing arrangement will officially begin, and you can start making good use of your new equipment.
Need new equipment?
If your company needs special equipment in order to get to the next level of business, we may be able to help you acquire the needed machinery. Contact us at Grecco Capital so we can discuss some options for providing you with the needed funding.