How to Finance Equipment for Your Small Business

Buying equipment for your business whether you’re purchasing it for the first time or upgrading can get expensive. Financing may be necessary to purchase what you need. “New equipment is a situation where small businesses commonly seek financing,” says Bernardo Martinez, managing director at Funding Circle U.S., a platform that connects investors with businesses seeking capital. “This allows them to preserve their working capital for other strategic purposes, and in some cases, the equipment may even help generate new revenue for the business that could help offset the costs of financing.” Financing also could help you remain competitive within your business niche if it allows you to purchase the most up-to-date equipment available. Depending on the lender, you could tailor repayment terms to fit your business’s cash flow and revenue. And you may be able to finance 100% of the purchase with no down payment.