ForumsStarting a Business

Up to All Forums

This Question is Possibly Answered

1 "correct" answer available (5 pts) 1 "helpful" answer available (4 pts)

7 Replies Last post: May 14, 2009 6:35 PM by phanio

Questions on obtaining funds for equipment on a new business

May 12, 2009 3:39 PM

kandsowner 3 posts since
May 12, 2009

I am a new business owner and I am having trouble with obtaining funds for a couple pieces of equipment. I have purchased all other equipment outright with no lingering business debt. The problem is that most places want to use personal credit and mine is horrible. The equipment I need is rather large and cost more than I could possibly come up with upfront. This equipment would be another vehicle and cargo trailer. What can I possibly do? It is extremely necessary to get this equipment in order for my business to succeed.

Tags: Report as inappropriate

KelaFunds 27 posts since
May 9, 2009

1. Re: Questions on obtaining funds for equipment on a new business May 12, 2009 4:00 PM

Hello Kandsowner,

If finanaced, are you trying to lease or buy the equipment.

Thanks

Report as inappropriate

kandsowner 3 posts since
May 12, 2009

2. Re: Questions on obtaining funds for equipment on a new business May 12, 2009 4:02 PM

in response to: KelaFunds

We would prefer to buy but at this point either one is an option.

Report as inappropriate

KelaFunds 27 posts since
May 9, 2009

3. Re: Questions on obtaining funds for equipment on a new business May 12, 2009 4:20 PM

in response to: kandsowner

Kandsowner,

Im not into the equipment leasing but you can try these guys out, they are very good.

http://www.gcr-capital.com

Good luck.:)

Report as inappropriate

KelaFunds 27 posts since
May 9, 2009

4. Re: Questions on obtaining funds for equipment on a new business May 12, 2009 4:22 PM

in response to: kandsowner

By the way, how much are you looking to be financed?

Report as inappropriate

kandsowner 3 posts since
May 12, 2009

5. Re: Questions on obtaining funds for equipment on a new business May 12, 2009 4:27 PM

in response to: KelaFunds

I believe that 20,000 should do it

Report as inappropriate

KelaFunds 27 posts since
May 9, 2009

6. Re: Questions on obtaining funds for equipment on a new business May 12, 2009 4:30 PM

in response to: kandsowner

Please give me and email KelaFunds@gmail.com

Thanks

Report as inappropriate

phanio 483 posts since
Apr 7, 2009

7. Re: Questions on obtaining funds for equipment on a new business May 14, 2009 6:35 PM

There are several options for you. There are many non-bank equipment lenders that can finance you - even with subpar credit.

You can also look into a sale - lease back. Sale the equipment you already own to a leasing company for cash - then lease the equipment back. It is only a paper transaction - you do not have to take the equipment to them.

We list several companies that can help you with all of this.

Business Money Today

Report as inappropriate

Bank of America, N.A. Member FDIC. Equal Housing Lender

Bank of America is not responsible for user posts and other user content appearing on this website and does not endorse or guarantee the perspectives, the advice, the users, the businesses, or the products or services sold by any users or businesses that appear on this website.

ForumsStarting a Business

This Question is Possibly Answered

Questions on obtaining funds for equipment on a new business

May 12, 2009 3:39 PM

More Like This

Most Recent Forum Posts

Legend