The US economy has been seriously affected by the coronavirus. Many businesses are going through a time of change. The truth is that a recession can be a great time to put money into a business, or even start a new one.
The US economy survived past outbreaks, and it will survive COVID-19, too. One way for businesses to continue operating and position themselves well for recovery is to adapt to these new temporary restrictions.
Whether the issue is bad credit, tax liens or a lack of collateral, equipment financing can be a great solution for businesses that can’t access traditional loans. Alliance’s ability to work with several underwriters means we are able to offer the best term and lowest rates.
Sometimes, a small business is poised to really take off. The owner has an established, successful business model. They have good cash flow. However, the reinvestment of profits often isn’t enough to allow for real expansion. Typically, financing is also required if a small business is really going to make a big push for growth.
It’s not unusual for a small business to need a loan. Most business owners have plenty of equity in their companies. But at times, a business can also need an injection of working capital or MAY require a new asset.
Small business owners are serious entrepreneurs. You don’t want to just survive in the marketplace, you’re determined to thrive. You want to expand your reach, find more customers, and insulate yourself from risk as much as possible. In order to achieve that kind of growth, you need to be able to keep investing in your business. Equipment financing is a great way to do that.
In today’s fast-paced world, traditional finance loans are still moving very slowly. While that may work for some people, there’s a different kind of credit that’s much more versatile and light on its feet. Equipment financing addresses and surpasses many of the drawbacks that come with a standard business loan.
Contractors help keep America running by building and maintaining the structures and roads we use, and they need the right equipment to do that.
Small businesses are one of the most important engines of the American economy. Over 58 million Americans work for small businesses. That accounts for almost 48% of all employees in any business nationwide.
Q1 of 2020 is around the corner with new goals and opportunities. Maybe your small business has been operating for several years, or maybe you are just starting out, but despite how long you’ve been in business, preparing for the new year should be in your future outlook.