Can Your Industry Benefit From an Equipment Loan?
Many businesses fail due to lack of working capital. When you don’t have the cash, you miss out on opportunities because you just can’t afford to pay for the equipment you need to thrive. There are certain industries that rely heavily on capital investments for equipment, and therefore are the most vulnerable to lack of funds. Here are some industries that could benefit from acquiring an equipment loan. Are you one of them?
Businesses in the transportation industry must buy and maintain certain vehicles in order to move people or goods. From taxi companies and airlines to bus lines and railroads, it’s imperative to gain access to working capital in order to keep up with customer demand, broaden their reach in new areas, and establish a solid reputation for quality service.
If you supply power to homes or drill for oil and gas, you’re in the energy sector. From solar power equipment dealers to offshore drillers, you need the right machinery to extract and refine fuel or deliver energy to your customers. You can’t be competitive and protect the environment if you don’t have the cash to get the equipment you need. Using an equipment loan to invest in the latest technology will give you the ability to obtain the equipment that is vital to the success of your business.
Telecommunications companies include broadcasters, cable companies and phone companies that rely on either wired or wireless signals. The technology necessary to send and receive signals from satellites is mind blowing. In order to gain a competitive edge while delivering top-notch communication services, you need to invest in all the latest hardware.
These industries require the highest capital expenditures, but many smaller companies certainly could benefit from an equipment loan — such as auto repair shops that need an extra lift or medical clinics that need the latest diagnostic equipment.
Contact us for more information on equipment loans and other forms of small business financing today!