It's not uncommon for small to medium sized businesses to see both good times and bad times. Let's face it, during the good times every piece of the puzzle fits together securely. There is good cash flow, great profit margins, money and/or credit is abundant-you name it. During the bad times either one of these things no longer is true or none of them no longer hold true. If your business is one that has struggled a bit in the past and is currently equipment rich and cash poor, then you can easily turn things around by considering a sale-leaseback on business equipment that you own outright.
The good news is that there are funding sources available to do this sort of thing regardless of your current personal credit profile. Just like always, the stronger your credit, the lower your payments on any given advance amount, but it's nice to know that there are options even if you don't have good credit. Also, the stronger your credit, the more they'll advance relative to the value (always auction value) of the equipment you'd be using to secure the funds.
Not all types of equipment are accepted when it comes to a sale-leaseback, but there are many types that are accepted. Generally, funders like equipment that has a good secondary market. Basically, something that can be easily liquidated due to a demand for that type of used equipment. Excellent examples of good equipment would be yellow iron, tractors, bulldozers, excavators, industrial and manufacturing equipment, specialty work trucks, etc.
If your business has gone through or is going through a rough patch and you need working capital, there might be viable options for you. When you ask yourself the question-is my business equipment rich and cash poor-and the answer is a prompt-yes, then consider using your equipment to do a sale leaseback.
About Vitality finance Group
Does your business need working capital or do you need to finance new business equipment? Contact us or apply online at (877) 834-3247 or http://www.VitalityFinanceGroup.com
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