Equipment Financing in Alberta to Support Your Business Needs
NO OBLIGATION! NO HIDDEN FEES!
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Types of Equipment
What are the Benefits to Financing Equipment in Alberta?
In every business it is important to manage day to day revenue. It is equally important to invest in the growth of your company balanced with maintaining liquid cash assets. When purchasing equipment, one could spend a lump sum to purchase the income generating assets. Alternatively, you could finance the purchase over a term length which allows you to make use of the equipment, yet control the amount of cash you are spending month to month. This strategy gives your business a line item that is predictable and consistent, which also happens to be non-reporting debt. Speak to your accountant about the implications of this and your ability to write off principal and interest against the very revenues being generated by the equipment.
This type of leverage is not solely for brand new equipment purchases. You may also be able to leverage your existing equipment assets. Depending on the year, make, model and operating hours on equipment you already own free and clear, the potential to refinance the equipment could exist. This is commonly referred to as a lease buyback, and could be the answer to receiving an injection of cash into your business. Leveraging equipment assets allows you to maintain liquidity on your books, and have funds available for payments to employees, further investment in growth, or other business expenses and emergencies.
What to Prepare When Applying for an Equipment Loan
The following supporting documents is what we need from you to begin originating a loan application for equipment.
- Application Form (provided upon initial contact/consultation)
- Personal Financial Statement Form ***if funding amount is over $100,000 (provided upon initial contact/consultation)
- Copy of Government Issued ID
- Quote or Bill of Sale for equipment being financed