How To Get Equipment Financing For Franchises
Best Equipment Financing Options For Franchises
Equipment financing for franchises, in the start-up phase or expanding to a second or more locations, is the sensible alternative to buying commercial equipment outright because it allows you to keep your hard-earned capital for the running of the business. When it comes to commercial equipment financing there are 2 options available, equity financing and debt finance.
While equity finance isn’t always possible or feasible, requiring you to find the funds from stakeholders, investors, family or even within the company, it usually involves you giving up shares in the business or spending all the capital you have on hand. The other option is debt finance and banks, retailers and even suppliers offer business loans which you can obtain to purchase your equipment.
How Hard Is It To Get Your Franchise Financed?
Unfortunately getting a loan from a bank, retailer or supplier as a small business owner is quite a hassle. In fact, this excerpt from Entrepreneur.com highlights how in-depth and complicated it is to get a loan from a bank or traditional finance institution,
In a perfect world, every entrepreneur would have the resources necessary to transform a killer business idea into a smashing success. However, as you know by now, that’s not how it works.
In fact, having a great idea is only part of the equation: At some point, most entrepreneurs need a small business loan. Unfortunately, however, getting approved for a loan can be challenging if you don’t have all of your proverbial ducks in a row.
CFI Finance® Gives Your Franchise The Equipment It Needs
Thankfully there is another option available, specialist equipment financing for franchises from CFI Finance®. Equipment financing solutions for franchises couldn’t be easier, with a simple online application process and approval within 24 hours in most cases. In addition to the fast turn-around time, we offer friendly and efficient service, emailing your simple to understand contract to you and making payment to your supplier. In most cases we don’t require any personal security and we offer a range of solutions with terms ranging from 1 to 5 years. No long, complicated paperwork or time wasted waiting for approval. Click here to find out more about our business loans, rentals or leasing options, and general commercial asset finance.
