Many transportation companies have needed to acquire commercial equipment financing at one point or another. Whether the need to acquire new equipment came from the need to expand a fleet, or to replace existing equipment, nearly all transportation owners have had to seek commercial equipment financing in the past and will most likely need to find commercial equipment financing again in the future. Commercial equipment financing services many different types of equipment, including commercial trucks, commercial trailers, specialty trucks, tow trucks and heavy duty equipment ? like construction equipment, for example. The need to attain new commercial equipment can either be exciting or feel like a burden, depending on the circumstances. The vast majority of business owners elect to use the many benefits of commercial equipment financing as opposed to paying outright cash for a large purchase for their business. There are several reasons that transportation and construction business owners choose commercial equipment financing over paying cash. One of the reasons is to preserve working capital so that money can be put to other use. Sometimes that capital is used to pay employee wages, purchase fuel for a fleet, pay company bills, or sometimes it is just saved in the bank for a rainy day. Whatever the reason, many savvy business owners prefer to make large purchases using other people?s money via commercial equipment financing. Another reason that commercial equipment financing is often chosen over paying cash for equipment is that commercial equipment financing can help your business establish and build its credit. Having business credit is extremely important for companies. It allows you to leverage your business by using other people?s money for large purchases and to pay off those purchases when the newly generated income comes in, thus being able to retain your working capital for other expenditures. Once your business? credit has been established, many commercial equipment lenders will not hesitate to lend to you, given that your Paydex score is high enough. In some cases, the lenders may require that you back your commercial finance loan or lease with your personal credit. Keep in mind, though, that there are commercial equipment finance lenders that sometimes will not require you to personally guarantee the loan, especially if you have borrowed from them in the past and have an excellent pay history with them. Whatever your reasons are for seeking commercial equipment financing for your next purchase, take solace in the idea that you are making the right decision.? Many successful business owners enjoy the benefits of commercial equipment financing, and you certainly can as well.
Source: http://trucklenders-trucklendersusa.blogspot.com/2012/09/commercial-equipment-financing.html
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