If your company is looking into financing for new, used, or demo equipment or needing funds to expand your warehouse facility, you’re not alone. In 2020, 8 out of 10 U.S. businesses use at least one form of financing for their equipment acquisitions.
Many businesses turn to equipment financing because of the pros that it offers. First, funding is fast and can be obtained quickly. At EFG, we pride ourselves on an Easy 5-Step Process with fast, easy, and flexible terms. With a simple, one-page credit application we can offer financing up to $500,000 per asset, EFG is also able to offer Project Finance and Lease Lines up to $5MM.
Another pro that financing offers companies is the ability to improve their credit score. If you choose to finance and make on-time payments, it can make a positive impact on the businesses’ credit score.
EFG can offer companies Loans, Capital Leases, Operating Leases, and Rental options. If you’re unsure which financing option would best fit your needs, reach out to EFG, and we would be happy to discuss and see which option best suits your business. You can also check out our previous blog, Is an Operating Lease or Capital Lease best for your Equipment Purchase.