We’ve covered a lot so far in my “why an equipment financing company is better than the bank” series, and we’ll move into our second half today with reason 6, which is “preserving your credit availability”. Basically, what I mean by this is the fact that while I think an equipment financing company is MUCH better than the… Read More »
Let’s move forward in our “why an equipment financing company beats the bank” by hitting our halfway point. Reason #5 is a simple one that should hit home for most of you – it’s “Financial Statement Covenants” (or “peeking in your window to see what’s going on”). Ok, you say that doesn’t hit home because you don’t really… Read More »
Ok, let’s continue our series on why an equipment financing company is better than the bank. And we’re up to reason #4, which is “compensating balance”. Now what is a compensating balance? Well, it’s nothing more than the bank saying “hey, we loaned you one hundred thousand dollars… the least you can do is have thirty thousand dollars… Read More »
Let’s keep going with our ten reasons an equipment financing company is better than a bank with reason #3, which is cross-collateral (or as we like to say, your first born.) Ok, let me be honest – the bank probably doesn’t want your first born (especially if he or she is still in the diaper stage – yuck).… Read More »
We’re continuing with our “ten reasons an equipment financing company is better than the bank” series today with the second reason – and that reason is that upfront costs are lower. So there you are, contemplating financing a new (or even used) piece of equipment. You’re financing this equipment because like many companies, you’d rather keep your cash… Read More »