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Which Is Best For Your Business?
There are various options available for obtaining business equipment financing and leasing. All businesses require equipment including computers, vehicles, furniture, HVAC units, and dozens of other expenses. Our experts will help explain the differences between equipment financing and equipment leasing so that you can make the best decisions to sustain or grow your business and maximize your ROI.
Finance Options
If you choose to finance the equipment your business requires, then you are going to make regular payments on a collateral-based term loan until you own the equipment. In this case, a lender advances you the money needed to get equipped, and then, accepts installments payments until the principal is paid back with interest. After that, you fully own the equipment and are therefore responsible for its maintenance.
Leasing Option
If you choose to lease the equipment your business needs, then you will never own it. Instead, you will pay a leasing vendor a monthly payment for the use of the equipment. The benefit here is that you are not responsible for maintenance and repair. The vendor takes care of that and your equipment is always kept in working order, which minimizes any downtime that could occur otherwise. When the lease term is over, you can opt to buy the equipment, lease it again, or just return it to the vendor.
The Best Option
Depending on various business-specific considerations, there are benefits to both equipment financing and equipment leasing. Lendnesse is a leading business funding facilitation company that can help you in either case. We work with high-quality funding sources that will loan you the money you need in a streamlined, simplistic process, especially when compared to mainstream lenders like banks.
Call our expert staff today at 800-940-0995 to discuss how we can help get you the working capital required to take care of either financing or leasing the equipment you need.
