There are a lot of private and non-traditional lenders out there willing to lend very specific types of businesses extra funding to keep their businesses running. These unique sources of funding would not ordinarily be available or possible to the borrowers, since they have very unique business and financial needs. If your business type fits with any of the following, funding may be available from less-than-traditional lenders.
Plastics Equipment Financing Services
These lenders offer loans and funding for companies in the plastics industries or entrepreneurs that want to get started in the plastics industries. The funding provides for equipment that will help mix, melt, mold, and research plastics for production and manufacturing uses. The amounts you can borrow are quite generous, especially if you are starting from scratch or starting with nothing else.
Converting Equipment Financing Services
Converters convert. That seems like an obvious statement until you realize that industrial converters do some very special converting. These machines run long hours without stopping, and often have repair needs in excess of what the companies can afford. So, these financing services help the industries update or repair their converters to keep up with their competition.
Construction Equipment Financing Services
Construction companies regularly have need of more funds because they are vying for very important contracts. They cannot get the big contracts if they do not have all of the necessary equipment. They cannot get the equipment without big contracts. It is a vicious circle of a proverbial dog chasing its tail and never getting it. To combat this issue, there are lenders that focus on providing construction equipment financing services so the company can get the equipment they need in order to pursue the bigger contracts, make the bigger money, and afford the equipment they will need for the next big contract. If this is your type of business, you can ask to borrow money based on your previous year's or previous two years' profits. If you did not have any profits worth reporting, you may be able to borrow under slightly different terms to get that dump truck or crane you need so badly.
Packaging Equipment Financing Loans
Warehouses and shipping companies all have to package and ship goods. They can package and ship goods faster if they have automated packing systems and automated package wrappers. This equipment, as you know if you are in this business, is not cheap. However, it is very necessary in order to stay competitive in this world.
How many times have you put off making repairs around your home because you didn't have the money to make them immediately? Have those decisions caused even more repair bills because you waited to make the repairs? I have done this several times in the past, and, oftentimes, not making those repairs have cost me far more to complete because the damage spread. The whole reason I created my blog was to help others find the financing they need to make home repairs without worrying about choosing the wrong type of financing option. Hopefully, my hard-learned lessons will help you avoid the same struggles that I have undergone.