Why Finance Your Business Equipment?

If you’re in business large or small, you know how important cash flow is to a business.  Cash flow is the very life-blood coursing through the heart of your business.  In lean times like these, sales might be down and you’re scraping every possible ounce of productivity out of existing business equipment.  But what happens when business picks up?  How much can you lean on the Golden Goose producing good eggs without making an investment in new equipment to upgrade or expand?  It’s time to make that painful decision to invest in your business equipment to take advantage of current growth.

You can do this comfortably and preserve as much of your company cash as possible by financing your industrial, manufacturing, medical or other equipment for your small business via equipment leasing.  Leasing provides several key advantages over paying cash for business equipment, like…

  • Low Down Payments – not requiring a lot of up front money
  • Tax Advantages -  lease payments are usually 100% deductible in the year incurred as operational expenses
  • Use Instead of Own – gain the use of business equipment today while amortizing your cost over affordable monthly payments during the term of your lease
  • Preserve Lines of Credit – classic leases are booked as operational expenses, not debt payments on your balance sheet; this keeps your business lines of credit intact

To learn more about the pros and cons of leasing versus buying business equipment outright, check out this blog post in the Smart Blog.

What Kind of Equipment Finance Do We Provide?

We can offer equipment finance through our partnership with Lease One for new business equipment AND equipment finance for used business equipment for your company in the following categories:

  • for industry
  • for manufacturing and production
  • for medical practices and doctors
  • for computers & IT
  • construction / heavy duty
  • the office
  • lifting and material moving
  • business vehicles
  • telecom and security
  • metal and plastic industries
  • software systems
  • oil and gas
  • food and restaurants
  • health and beauty
  • startup businesses

Learn more about equipment financing, capital equipment, lease, loan, machinery finance

What is the Process for Your Equipment Finance Program?

It all starts with the simple online application in the sidebar of this page.

  1. Once you submit your application, you’ll need to print it out and sign it to authorize us to pull credit in order to qualify for your lease.
  2. For application only or no-documentation financing, provide copies of three (3) months business bank statements.
  3. FAX, email attach, or submit through our site document exchange your signed application and bank statements.
  4. We’ll tell you your qualification status within a few days (faster upon request–see application form) and provide you with options and the monthly payment required for each, as well as any associated fees for document preparation and on-site inspection.
  5. You make a decision as to term and any options.
  6. We’ll present you with executable bank financing documents from your lender within a few days.  These need to be reviewed, signed by the legally authorized lessee, and returned along with your initial deposit.
  7. Financing is approved by the bank, and your equipment vendor receives a purchase order and  is authorized to ship the equipment to your site.  Set-up, installation and training occur as agreed upon with the vendor.
  8. The bank dispatches a 3rd party inspector (not always required) on-ste to verify equipment is received in good order and to the satisfaction of the lessee, who signs off on that satisfaction.
  9. The vendor is paid in full.  Your equipment is online.

Why Should I Seek Equipment Finance for my Industry through Smart Company Growth?

There are plenty of companies who provide equipment finance for small business, industry, manufacturing, doctors and more.  We encourage you to try them all if you wish.  Many times on new equipment the manufacturer or reseller will provide captive financing, a package specifically suited for that equipment from that vendor.  The reason this is done is simple: it provides a competitive advantage for the vendor/OEM and an alternate source of revenue.  Your options in this case will be limited by which companies provide equipment finance in house, unless you work with a leasing company like us.

There are a few distinct advantages of working through Smart Company Growth and LeaseOne:

  • Rapid turnaround on qualifications after receipt of application.
  • We finance USED equipment, opening up your options for real cost savings when upgrading.  Many lenders avoid used equipment deals.
  • Decades of experience in manufacturing provide you with an added service.  Smart Company Growth will help source and negotiate your equipment pricing with suppliers, getting you the best deal possible from a vendor and relieving you of that burden.

Karl of Smart Company Growth/LeaseOne was the referred financing source referred by a private seller of Optical Equipment that I found used on eBay.  This equipment ran upwards of $30K, so as you might imagine, I was a hesitant buyer as this equipment normally retails for twice that amount.  Karl took a personal interest and not only set up the funding, but acted as the communication conduit throughout with the seller.

Well, wouldn’t you know it, the financing went through and the equipment never showed up.  I mean not at all, and the seller could not be reached for comment by either myself or Karl who made multiple attempts.  I was getting very nervous on the whole deal and was afraid of being stuck and losing my deposit to the leasing company.  Right as panic was beginning to set in, Karl called me and confirmed that he thought this deal was going south and provided options to save the day.  In fact, he had already sourced the same make and model of equipment from the only US certified distributor of the equipment.  This was a few thousand more, but this equipment was factory refurbished with a 1 year warranty, factory delivered, and certified setup and calibration at my offices.  None of this came from the first suspect supplier.  This made me feel a whole lot better about the transaction AND the equipment I was getting.  Karl then arranged for rapid delivery and negotiated a substantive discount from the new equipment pricing in order to make the deal happen for me.  The equipment showed up on time and was professionally installed.

I never expected the financing company (Karl) to source replacement equipment and negotiate pricing on my behalf when the original vendor that I was doing business with didn’t meet commitments.  Above and beyond!  I have better equipment, warranted with service, at a much better value!  I will only be making one call when I need more business equipment in the future.”

Dr. Quang Pham, QVision, Inc., Owner

 Karl was a great provider of service to our company, we needed leasing for some new construction equipment and he was very responsive and attentive to our needs. His attentiveness to our needs helped us tremendously in acquiring our new equipment and helping us complete a project that was very profitable for our company.

Arthur Boykin, CEO, Sirrus Systems, Inc.

Karl also has keen business skills and understands what it takes to provide superior service to his clients and peers. Through the LeaseOne relationship to offer financing, Karl demonstrated his ability to assess a need and develop a solution providing companies with opportunities to acquire capital expenditures in a difficult financial market; he goes above and beyond to ensure needs are met. I highly recommend trusting in Karl’s ability in any endeavor and am confident that he can provide the quality, professionalism, and results needed.

 

Rob Akers, Chief Operating Officer, National Tooling and Machining Association

How do I Get Started?

Simply click on the Online Lease Application button in the sidebar or, if you wish, estimate your payments using the Lease Payment Calculator.  You can also call at 1-410-91GROW4 (914-7694) to have any questions answered.  Upon receipt of your application we’ll take you through the process outlined above to get your equipment financed and you in business!