Financing companies are very popular with small to medium sized businesses. Since we provide leasing services for equipment financing, we are often asked some of the advantages of using an equipment leasing company over a traditional bank.
There are a lot of answers to that question, all of which we are sure to go over at some point. But for today, let’s start right at the beginning – at the application and approval process.
When you go to the bank to obtain financing for your equipment, you need to provide a lot of information. Financial statements, balance sheets, collateral or even the name of your spouse; it can be a daunting and time-consuming process. Time you probably don’t have.
On the other hand, when you use an equipment financing company, it’s a much simpler procedure. Usually only one simple online form that you can fill out in the comfort of your home so start the process and get a personalized service.
Imagine having no complicated questions to answer. You are given the terms and you are ready to go. And here’s the best part- you typically get an answer in a matter of days if your documentation is right. Not waiting weeks or months.
To be truthful, it almost sounds too easy, doesn’t it? Well, it is, and this is why equipment financing and leasing companies are very popular with small to medium sized businesses.
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