Your company may dramatically enhance its production and revenue by having the appropriate equipment. A firm can frequently increase the range of its services by purchasing new equipment, which enables it to serve a larger or different consumer base. The tools a business employs also speak volumes about its management style, feeling of professionalism, and sense of quality. The terms of marijuana equipment financing are quite flexible and won't strain the company's cash flow because most repayment periods last between 24 and 72 months.
Additionally, buyout options and the flexibility to add equipment to your lease are available.
The advantages of equipment leasing over a typical company loan include the following:
• There is no down money required, and at least there is the choice to buy the equipment.
• Adaptable terms and competitive fixed pricing to your demands and business cycle
• Tax-free loan payments if the equipment vendor or supplier is not obligated to withhold taxes
• Municipalities and other qualified government bodies are eligible for tax-exempt leases.
• Customized loans and leases ranging from $10,000 to $2,000,000
Who Is Eligible for Financing and Leasing of Cannabis Equipment?
Loans and leases for equipment finance are available to almost all businesses. The type of equipment, your company's finances, and credit history determine how much your organization qualifies for and the authorized interest rate.
Cannabis Equipment financing & leasing is a wise choice even if your personal or business credit score isn't flawless because the equipment serves as collateral. In actuality, the equipment and your borrowing history are equally important to our underwriters. In other words, the equipment may be sufficient in and of itself to qualify your company for finance.
What Is the Procedure for Financing and Leasing Cannabis Equipment?
Application for a company equipment loan or lease is a relatively easy process, and we only require a one-page application and details on the equipment you're financing or leasing.
Necessary papers required:
• Driver's License
• Voided Business Check
• Completed Application
• Equipment Quote
Financing &leasing for Cannabis Equipment vs. Alternative Payment Methods
For businesses of any size, financing or leasing your equipment acquisition is wise. The equipment your business needs can be purchased immediately and paid for through monthly or quarterly installments.
• Credit cards vs. equipment financing/leasing: There are a lot of new companies and small firms with few lines of credit. By using a credit card to pay for your equipment, you are squandering important credit lines that your business would otherwise require for other needs. If you finance your equipment acquisition, your organization has additional alternatives for future business demands.
• Small business loans vs. equipment finance/leasing: Equipment financing may be more cost-effective than a loan. Due to the equipment serving as collateral, the rate and terms on equipment financing or lease approval sometimes turn out to be more attractive than those on a small company loan.
Conclusion
You require rapid access to payment choices when your company needs to enhance its equipment to serve its consumers better. We provide money in as little as 24 hours to help you buy the tools you need to grow your company and provide your customers with the quality of service they have come to expect. To fit your company's unique demands, we provide variable term lengths and repayment alternatives, ensuring that you have an outstanding marijuana equipment financing experience.
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