Growing your small business takes a lot of soft skills like creative thinking, relationship building, and organizational development. Small business owners use these skills to solve problems, manage employees, and attract new customers.
Sometimes, however, expanding a business also takes hard assets. A contractor may need new earth moving machinery. A retail store might need state-of-the-art computers to implement a new point of sale system. A restauranteur may need to replace broken kitchen equipment.
Even if your small business has been in operation for a long time, purchasing equipment can be a big decision and a financial challenge. On the one hand, buying the needed equipment can help you serve more customers and generate more revenue. On the other hand, the high price of new equipment may stretch your finances too far and put your expansion goals just out of reach.
If you are a small business owner facing this dilemma, then equipment financing might be a good option for your business funding needs. Equipment financing is a loan that helps small business owners purchase new business equipment and allows them to use that equipment as collateral. ValueOne has helped many entrepreneurs take their businesses to the next level using equipment financing and we can help you, too.