Buyer Guide to Equipment Financing
When your business is in its initial planning stages or looking to expand, one of the items to cover is the $521 billion market known as equipment financing (purchasing or leasing equipment for your office or other needs), be it manufacturing, construction, and transportation and so on.
While paying employee salaries may come across as the most expensive item on your agenda, financing equipment is no walk in the park.
It is important for business owners to sit down prior to opening up or planning for expansion and figure out an approximate budget for business equipment financing so that they are not caught short.
For those business owners who feel buying equipment is not an option at this time, they also have the opportunity to lease equipment.
Business owners should think about the advantages and disadvantages to leasing, including the difference in costs from buying, along with added care needed for equipment that will ultimately be returned to its owner.