How a Small Construction Company Can Compete by Participating in the Community
How to Grow Your Construction Business and Beat the Big Guys
While big construction businesses seem to dominate the market, small businesses can carve out a niche in their communities. In fact, if a small construction business can integrate with the local community, they will have no trouble getting contracts and growing their business.
Of course, it takes some skill and dedication – and a mindset to contribute to your community. If you follow these tips, your business might become a formidable competitor in your region.
Equipment Financing Collateral
What is Collateral? And Why Does it Matter?
Collateral is an asset(s) a lender accepts as security for a loan, finance, or lease. It is something you would commit to guarantee a loan. Almost all equipment, vehicle, or home loans will require some sort of collateral assets.
Loan collateral is purely for the protection of the lender. The lender wants to ensure you will pay for the loan or lease they are providing to you. Thus, if you default on your payments, it is possible that the lender may attempt to repossess an asset or put a lien on it.
The more confidence you can give the lender in your ability to pay back the loan, the more likely you will get approved with better terms.
So how does collateral work in equipment financing and equipment leasing? Let’s explore…
Why Choose Lease to Own for Your Next Equipment Purchase?
Understanding the Pros and Cons of this Popular Financing Option
In the market for new or used equipment? Maybe your business is in a growth cycle, changing strategies or replacing equipment that is past its prime.
Whatever the reason, you’re likely thinking about financing. Should you lease or buy? What financing strategy will prove most affordable—and help you stay flexible for the future?
Getting a clear picture starts with comparing the two basic financing types. Leases and loans both have a lot to offer. You can optimize your return on investment by identifying the format that best suits your business needs.
The Bottom Line: Understanding Your Monthly Payment and Cost of Loan
How to Evaluate Your Lease and Make the Best Choice for Your Business
Financing can be confusing and, yes, kind of boring. It does pay to understand a few things though, especially when it relates to saving on your monthly lease payments.
Give yourself an advantage by understanding the breakdown of monthly payments. There are a lot of moving parts in a lease. If you just compare payment amounts, you may not be getting the full picture.
Your lease term, end of lease agreement, inspection or transport fees, down payment and interest rate all go into determining your monthly payment. Let’s take a closer look at the factors that go into determining your monthly payment.
The Secret to Fast, Hassle-Free, Used Truck and Equipment Sales
How to Compete Effectively with the Big Dealerships, Avoid Sticker Shock and Move Your Used Equipment
You want to sell your used equipment with a minimum of hassle. Your buyer wants a deal with a minimum of hassle.
So how do you both get what you want?
It’s not really a secret.
You don’t need to be a big equipment dealer to offer financing on your sales. With simple third party financing tools, you can make your used equipment more affordable to potential buyers, complete the sale quicker, and get the best price for it.
7 Benefits to Leasing Your Next Dump Truck
Leasing Can Minimize Your Upfront Costs and Offer Surprising Flexibility
Dump trucks and dump trailers are expensive. Even used dump trucks can set you back over $100,000—easily making cash purchase difficult for most owner-operators. You need the dump truck to get the contracts to pay for the truck.
The good news? There are more financing options than you might think.
Traditional bank loans are not the only way to finance new and used equipment. This article will lay out 7 ways leasing can change the financing game.
5 Tips and Tricks for a Successful Online Equipment Search
How to Minimize Hassle and Find the Best Equipment for Your Business
More than ever before, businesses are moving online to buy and sell equipment.
Equipment sale aggregator websites offer a truly staggering inventory of new and pre-owned equipment—and that is great news for small business. But buying online is not always smooth sailing. Anyone who has tried it knows finding what you need can be a real challenge. Too often searches deliver a stack of irrelevant listings, poor condition equipment, overpriced assets—or no matches at all.
The good news is that searching for quality used equipment does not have to be a frustrating experience. In this article, we offer five tips designed to help you search smarter, cut the clutter and achieve a successful online equipment purchase.
10 Key Habits of Successful Entrepreneurs
Personal Practices that will Put You on Top of Your Game
Success comes from within. Studies on entrepreneurship have found remarkable similarities among those that thrive. So, what makes the difference between a mediocre entrepreneur and successful one?
Relentless Learning
“Change is the end result of all true learning.” – Leo Buscaglia, author and teacher
Forbes magazine lists avid reading as a leading characteristic of successful entrepreneurs. Why? Because they are aware of their own limitations. Like the old saying goes, “You don’t know what you don’t know”. Entrepreneurs that succeed do so because they put effort into personal growth and education. Greater understanding gives you a competitive advantage. Read journals, read books, listen to podcasts. Attend seminars and stay up to date with the latest industry trends. Consistent learning puts you in the right place at the right time—with the right idea.
How COVID-19 has Changed Equipment Leasing
Pandemic Life has Changed Equipment Leasing—Here’s What That Means for Your Business
It’s pretty clear by now that few areas of our lives escaped the reach of COVID-19. The good news? Change often brings new opportunities for those who are willing change along with it.
From the initial lease estimate to the final paperwork, equipment leasing has seen its share of changes. Companies are moving online and going digital, banks are cautious and our clients in all sectors are seeing shifts in their industries. If your business has seen changes over the last year, you know how important it is to stay nimble and look for ways to adjust with the times.
Equipment leasing is changing right along with you.
What is Equipment Leasing?
Answers to Your Questions About this Common Form of Business Financing
Equipment leasing is a financing agreement in which business equipment is purchased by a leasing company (lessor) and rented back to the business owner (lessee) for a prearranged length of time at a flat monthly fee. At the end of the lease term, the lessee may either buy out their lease for $10 or 10% determined at the start of the lease, trade up for a newer model, or close the lease by returning the equipment.