Equipment Financing – OverFund Capital
Equipment Financing By OverFund Capital
Many firms rely on equipment to complete their tasks. New equipment may also be the difference between stagnation and growth for some businesses. Whatever your industry, there’s almost certainly an asset you’d like to have in your company – and it might be anything from machine tools to catering equipment or commercial vehicles, depending on what you do.
Equipment financing provides your business with the money it needs to buy (or lease) the equipment it needs to run and expand. You can lease almost anything from IT equipment and air conditioning services to heavy machinery and cars. An equipment loan might assist you in increasing cash flow and covering recurring business expenses.
Do you need equipment for your business? OverFund Capital offers various equipment financing options to help you get the tools you need to grow your business. Our leases and loans can help you get the equipment you need.
Contact OverFund Capital At 1-516-519-2226,
And Talk To Our Certified Financial Specialists Today!
Everything You Need To Know About Equipment Financing
What Is Equipment Financing?
An equipment loan is financing that allows businesses to acquire the technology or machinery they require. In general, the lender provides the company with funding to secure the equipment being purchased or leased, and the business pays the money back in monthly installments (with interest). The equipment may be used as collateral, which means that if the company fails to satisfy its repayment obligations, the equipment will be seized. The business owns the equipment as soon as the loan is paid in full.
What is Equipment Leasing?
Equipment leasing is an excellent method to keep your asset inventory in good shape – frequent improvements, service, tax efficiency, and cash flow management are just a few of the advantages. Operating and finance leases are two types of equipment leasing that offer various timeframes and levels of commitment, depending on the equipment you require.
What Are The Benefits Of Equipment Financing?
There are various reasons why you might select equipment financing over paying cash upfront from your business equipment. The following are some of the benefits:
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Tax Efficiency
Some methods of equipment financing, such as leasing and sale and leaseback, are more tax-efficient than outright purchases. For example, leasing an item is a monthly expense rather than an asset on your balance sheet.
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Easy Budgeting And Management
Most forms of equipment financing provide predictable payments, allowing you to spread the expense over time. As a result, managing cash flow is a little easier, and you can concentrate on running the firm.
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Scalability And flexibility
If you finance one piece of equipment and your business grows, you can swiftly acquire additional items without a significant outlay. An equipment loan is a terrific method to grow your business, whether you’re scaling up production with new state-of-the-art equipment or acquiring extra cars for logistics.
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Access To Additional Credit Lines
Access to alternative credit lines is one of the often overlooked but crucial reasons to finance rather than acquire equipment altogether. Equipment financing is usually a predictable monthly expense, similar to tax efficiency, which means you can receive another sort of business finance at the same time. It is a tremendous benefit; for example, you may obtain the equipment you need and take out a business loan for marketing.
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100% Financing
With equipment financing, you may finance the entire solution in one transaction, including equipment, software, installation, training, maintenance, and other services. During this period, businesses might upgrade equipment or add services.
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Inflation Protection
Instead of paying the entire cost of the equipment up immediately or with a substantial down payment in today’s money, equipment financing allows you to spread out your payments over time. Furthermore, either a lease or a loan can lock in the rates that are in effect on the closing day. In other words, the lending firm absorbs the inflation and other financial risks that cause your payments to devalue over time.
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Keep Up To Date With New Technology
Leasing, loans, and other forms of finance allow you to get more and better equipment than you could otherwise get. In addition, within the lease contract term, specific leasing finance packages may allow for technology upgrades and replacements.
Frequently Asked Questions
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Do You Finance Any Equipment?
Yes, At OverFund Capital, we finance practically any type of equipment, vehicle, or software that a company requires to run its operationsーfrom machinery to office furniture to technological devices.
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What Is Criteria Taken Into Consideration When Determining Creditworthiness?
The criteria taken into consideration when determining creditworthiness are the length of time in business, bank and finance references, and company and credit bureau ratings. In addition, OverFund Capital uses third-party databases to obtain sufficient credit information during the application process to provide the finest products to our customers and improve processing efficiency.
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How Will Equipment Financing Benefit My Business?
Working with us will aid in the development and maintenance of your company’s creditworthiness. All reporting is done on your business credit, allowing you to keep your credit lines for personal use. Furthermore, financing protects your cash and credit lines in case of an emergency or when your company requires it most.
The Best Equipment Financing Rates Available In The Marketplace
If you’re looking for equipment financing to grow your business, offer new products or services, or get a competitive edge, we can help!
OverFund Capital offers streamlined equipment financing solutions in New York that can get you the money you need in as soon as 24 hours. Our Business Financing Advisors will explain all you need to know and answer any questions you may have. All of our equipment financing options are tailored to meet your specific needs and those of your business.
We Also Offer Fix And Flip Financing
We also provide fix and flip financing, a short-term loan used to pay for repairs and improvements. This sort of funding is similar to a bridge loan until a better long-term financial solution is found.
