How a Small Business Equipment Loan Could Help Your Business
Equipment can be expensive and if you pay outright for a piece of equipment, it can be a financial drain on your business. Many companies use a small business equipment loan as a way to improve working capital. This method can often be more efficient for your business because the payments can be spread over a set period.
Here’s why a business equipment loan could benefit your business:
An equipment loan will let you hold onto your working capital. This will allow you to spend it elsewhere in your business like expansion or stock.
This type of loan can help lessen the uncertainty of investing in a capital asset your business needs until it achieves the desired returns, increases efficiency and saves costs.
Equipment loans will allow you to keep your business up-to-date by enabling you to acquire better equipment than you could afford without the loan.
Once the loan is paid off, you will own the equipment, resulting in a boost for your asset holdings.
Where Can You Get An Equipment Loan Quickly?
Traditional lending institutions can take a few weeks to supply finance for any type of loan. But what if you need the finance quickly? Maybe you run a busy café and you’re down a coffee machine? Well, there are alternative ways of getting finance for a small business loan, such as through GRID Finance.
GRID Finance is a small business capital platform where your business gets a financial health-check of their business and access finance for their working capital, growth and expansion needs. They offer a cash advance facility that would be perfect for purchasing equipment.
You can borrow up to €100,000 over a maximum of 18 months. Repayments are made daily as a small percentage of your future card sales until you have repaid the full amount.
So if you’re in need of new equipment for your SME, it would be worth looking into GRID’s cash advance facility. Contact GRID now for a cash advance loan to finance your new equipment. Get on the GRID.