Fitness equipment financing is available for a wide range of fitness related assets and is provided by both banks, other institutional lenders, and leasing companies.
The strength of fitness center applications is in the cash flow they generate. If a fitness related business is showing solid historical cash flow on its financial statements and on the annual tax return, then there is a number of equipment financing opportunities that are going to be available to finance this category of assets.
Lenders and leasing companies also like fitness equipment due to the fact that their investment tends to be held in a number of different assets versus one asset for the whole loan or lease facility.
And if that cash flow is strong, used fitness equipment can be financed as well, although there may be a down payment required and the rates and terms may not be as strong as new equipment.
A loan or lease can be structured for one asset or a group of assets, depending on the requirements of the business owner.
Fitness equipment leases can also be structured as operating leases or capital leases to allow for cash flow requirement and taxation strategies that the business is trying to take advantage of.
Before starting the buying process, the best first step to take when you know you’re going to need to secure third party financing for fitness equipment you want to add or replace is to apply for a commercial equipment financing preapproval. That way you can get the financing process completely out of the way before you start researching prices, making offers, or negotiating on purchase terms. A pre approval also provides you with exactly how much financing you can secure and the related repayment terms so you can adjust your acquisition budget accordingly.
And if you have a deal all lined up that just requires financing, give us a call today so we can quickly help you put together an application and submit it to the most relevant lenders.
We even can arrange financing after the purchase as long as the transaction is not more than 6 months old.
Regardless of where you’re at in the purchasing and financing process, please give us a call so we can quickly assess your requirements and provide you with an initial pricing estimate.
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