Restaurant Equipment Financing: What You Need to Know

Restaurant Equipment Financing: What You Need to Know

Low Monthly Payments that range from 12 – 60 months and ensures the best fit for your business. Get equipment now and pay for it later in small, manageable payments. Earn money before payment is due. Keep lines of credit open for emergencies and use our financing to help build business credentials. Most businesses can potentially deduct 100% of the total equipment costs through Section 179.

Low Monthly Payments

18 – 45 months Recommended Size: $0 – $500,000 Pros: Cash, no interest for 18 months, then 6.5% Affordable Get Equipment Now for you and your employees and set up financing now. If needed, you can pay off the equipment and immediately deduct the full amount. Cons: Average Interest Rate 9.21% Slow Average Payments for Small Business Loans 6.20% to 12.61% Pros: Affordable Increased Cash Flow Cash Flow Get Direct Loans for Small Businesses Pencil out and budget the difference in payments for the equipment for both the purchase and the lease. Make the lease payments a fixed cost. Work with a contractor to help manage your payments. Conceive ways to improve your cash flow by renting out equipment and rooms on a daily, weekly or monthly basis.

Keep Lines of Credit Open

We have tools for business owners looking to increase the flow of cash into their businesses. You can see your cash reserves or make tax-deductible liquid asset investments to improve your overall financial situation. You can earn money on money you don't yet owe on credit. Use us to build confidence and build your business's credit rating. Secure Deductibility in Quick Turnaround Times Quick turnaround time for your purchases and the potential to apply an accelerated method of deductibility can help your business take advantage of deductions up to 100%. If you apply for a deduction before December 31st, you can generally claim it by February 1st. Our prepayment structure allows you to pay for your equipment by December 31st to get this deduction on your taxes.

Tax benefits for businesses

Tax deductions may be used by taxpayers to offset business expenses. For example, if a company is purchasing new server equipment, a business owner may deduct up to $500,000. TIP: Trade expense financing may qualify for an ABLE account. The tax benefits may result in savings as well as increased cash flow. Specialty Equipment Loan Program: Deferred payments at 20 – 25% of the equipment's value is secured for one year or for up to 10 years. If you have a business with a year or more to grow, consider a product finance solution to finance only the cost of the next level of equipment. Variable interest rates: A variable rate financing program is based on a rolling monthly interest rate.

Financing can be used by all types of business

Every type of business can qualify for Restaurant Equipment Financing. Start up Scheduled Maintenance Restaurant Equipment Financing is ideal for: Lighting Microwave and Coffee Equipment Fan Cooler Serving Table Set-Up Rack and Barrel Video camera Children’s Table Refrigerator Freezer Coffee Equipment Service Coffee Microwave and Fridge Steamer Electric Coffee Equipment Electric Steamer Ceiling Fan Oil and Air Fryer High Temperature Oven Filter Overhead Dishwasher Cooking Equipment Food Processing Equipment Eating House Commercial Dishwasher Fish/Fishing Gear Larger business Small businesses typically need financing for more than equipment. FHA loans are great for investors and some investors have additional options.

Best Time to Apply For Financing

The following is an overview of recent research findings regarding the timing of financing and available capital across industries. Transportation Our survey of suppliers found that most of them had just completed pricing for 2019 – since the fall in the oil price – so contractors could expect to see increased pricing next year. However, suppliers expect the demand for trucks and trucks in the transportation industry to continue to grow next year. Our survey also revealed that transportation-related purchases for 2019, such as heavy-duty equipment, are likely to be up by about 10%. Other factors contributing to the expected increase in purchases included anticipated improvements in the US economy, the deployment of autonomous vehicles, and strong GDP growth.

When You Have an Established Business

The great news is that equipment financing, at rates lower than many small business loans, can be a valuable part of your operations as you're looking to grow your company. Think of equipment financing as the proverbial ladder. It's a proven and popular way to grow your business because you don't have to commit to making large, lump sum payments all at once. Instead, you are able to replace an older piece of equipment, gain a new device for an existing operation, or purchase equipment for a new location. So you need new equipment? Start a cash account with your local bank and come in with an additional $100,000 for the equipment loan or a cash down payment of $15,000 for the financing.

When You Need the Equipment Now

Buy now, pay later. Use the equipment to grow. With our purchase plus finance options, you have the best of both worlds. Increase your net profits in small increments, no matter how small the demand is. Buy, but you pay. Borrow then pay or make a purchase then borrow again, later. Today, making the most of the current economic situation is harder than ever. With small businesses not spending and working more, big businesses can make big profits. While your small business might not be there yet, there’s still time. Quickly evaluate the equipment needed for your business and apply for a Financing Auto loan to take advantage of these great deals.

When You Need to Build Credentials

Businesses build credibility by demonstrating they can deliver quality goods or services. Improving one’s creditability by getting an equipment lease enables the business to gain this credibility. This in turn will help the business expand its market share and brand. Get a lease to help your business grow. What is a Reliable Payment Method for Your Lease? When making payments on your equipment lease, you can choose between any of the following: PayPal – We have partnered with PayPal to make financing easier with a simple and secure way to pay for equipment. Buy it here! – We have partnered with PayPal to make financing easier with a simple and secure way to pay for equipment. Buy it here! Business Credit Card – Our proprietary card offers low monthly payments and zero percent interest.

Conclusion

Running a business requires the proper equipment in order to work, produce and operate efficiently. Your restaurant can turn into a bigger business, get your customers excited, and create more revenue if you use the right equipment to help you grow. If you are interested in expanding your restaurant with the right equipment, learn more about the financing available to you in our Restaurant Equipment Financing page. The Credit Application takes less than 5 minutes and final approval generally takes 24-48 hours.