Snow moving equipment financing can be put into place in a matter of days if required, provided that the business application has the necessary credit and financial profile to get financing secured and funded.
Approvals can be granted within 24 hours or less for amounts no greater than $75,000.
Larger amounts can be approved as well, but it may take an extra day or two to get a funding approval as more documentation and/or human review may be required by the equipment financing source.
Regardless of your requirements, the speed in which funding can be approved and put into place in a matter of days in most situations.
This can be very important for businesses that 1) have had a break down in the middle of the season; 2) are in need of replacing equipment at the point of first snow fall; 0r 3) are expanding their existing business or going into the business for the first time.
Snow moving commercial equipment financing can be secure for both new and used snow moving equipment.
You can also finance the acquisition of snow moving equipment from a licensed dealer as well as a private seller.
Just keep in mind that with a private seller transaction, there will be more time required to complete the transaction as the lending/funding party will need to complete a search and waver process on the particular asset or assets so that the equipment financing company can be assured that clear title is being made available without any prior liens or encumbrances outstanding.
If you are in a hurry and want to acquire and finance snow moving equipment in the least amount of time, then purchasing new equipment from a licensed dealer will speed up the process considerably as a certain number of application steps will be removed.
One of the benefits of equipment lease financing is that a business can get financing arranged for as little as one or two lease payments made in advance.
And if there is accessory equipment and installation required such as a hydraulic system to be installed on a truck for a new snow plow, the cost of installation and supporting equipment can also potentially be included in the cost of the lease, providing in some cases more than 100% of the purchase price of the asset you are trying to acquire.
This can be a great saver to your cash flow, especially if you need to fund working capital during a time of expansion or business development.
Good rates and terms are also available and are subject to the credit and financial profile of the applicant company.
When dealing with equipment leasing as the equipment financing instrument, you will need to consider whether you want an operating or capital lease. Each has their advantages and have the potential to be structured to better fit your business requirements such as seasonal payments when it comes to businesses like snow plowing and removal.
If you need more information or want to get your application for financing process right away, I suggest that you give us a call and we’ll get all you questions answered and quotations prepared right away.
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