Restaurant equipment financing lets you Discover the power of a lease for your business.
Restaurant equipment financing through a lease program can prove extremely beneficial to your business. There are a wide variety of benefits that this sort of financing program provides to a business.
With leasing, through something like restaurant equipment financing, you typically get a much longer term option. This is much better than a standard bank loan which finances for shorter periods of times. With a longer term your monthly payments are lowered drastically, giving your business extra capital each month to hold in reserves or to put back into the business to increase profitability.
Another major factor in the decision for businesses to go with leases instead of regular bank loans is that there is no cross collateralization. Since most banks require businesses to file all types of collateral the assets of that business are tied up completely with bank liens. This means other assets and the new equipment you are purchasing would be tied up with the bank.
Many business owners fear that their new equipment will eventually quit working, or will simply be obsolete at the end of the loan. With leasing there is nothing to worry about in regards to this because at the end of the lease term an upgrade can be given. Another positive thing is that the item won’t depreciate or lose value as most equipment tends to do.
Other positives of going with leasing are that there are flexible payment options and also fixed monthly payments. You don’t have to worry about the interest rates jumping the monthly price up each month. This enables you to budget more efficiently.
To find lenders that are looking forward to helping you lease equipment for your business you can search our free business capital search engine which has over 4,000 lenders. You can search the directory and get matched with lenders completely free.