I had an interesting conversation right after the “big” June rate hike. A customer was in the process of buying a new machine they needed, and the rate hike happened right in the middle of their “which of these two models should we buy?” discussion. And since like most businesses they were going to finance the machine, they… Read More »
Over the years, I’ve spoken quite a bit about the restrictions that are common on almost all bank loans, and how they can really make things tough on a company. To refresh, the three I mention most are: Blanket Liens – This is where the bank slaps a lien on your entire business, meaning you cannot do what… Read More »
Quick question: If I offered you one of three choices: $5,000 cash right now, $5,000 in a few years, or $1,000 a year for five years, which would you take? Most of you would say $5,000 right now, which is the correct answer. There are a lot of reasons why most people feel this is the correct answer.… Read More »
Well, it happened. The Federal Reserve raised interest rates last week a quarter point, marking the first rate increase in three years. Most economists felt this was inevitable, and I’ve been talking about this for a while now. Well, we’ve moved out of speculation and into reality – with the inflation numbers being what they are (the highest… Read More »
Next up in our series on “reasons to finance equipment in 2022”, let’s talk about using financing to keep pace with your competition. No matter what industry we are in, we always keep an eye on our competition. Which is smart – while we all like to think we’re “it” in terms of our industry, that isn’t true,… Read More »