Seasonal or specialized businesses have specialized financial needs. We’ve seen it here before. At Advance Funds Network (AFN), we helped an HVAC business in Culver, IN secure $50,000 in heavy equipment financing. The goal: to have enough working capital to purchase additional equipment and another company truck.
This may be one particular case, but their goal isn’t an uncommon one. That goal is the biggest reason that we provide heavy equipment financing.
Filling a Tall Order
Businesses in industries like:
- HVAC
- Construction
- Paving & Asphalt
- Landscaping
- Medical Supply
- Trucking & Transportation
These types of industries need a flexible, yet instantaneous, resource to purchase big ticket items. Why? The equipment and supplies they need cost thousands of dollars at a time. It simply may not be good business sense to have that kind of liquidity on-hand.
Even if you tried to buck convention and keep that kind of cash flow at-the-ready, your chances of pulling it off are slim at best. The financial structure of a high-output, high expense business focuses on protecting itself through asset management. What that means is the largest percentage of the revenue you bring in gets immediately tied up in making sure your business stays profitable over time. Now, these assets can be used to pay down debt, but not immediately.
The nature of debt being what it is, you usually have time to turn assets into cash flow if you want to put it toward debt reduction. As for your day to day expenses, not so much.
Funding that Moves with You
Beyond petty cash, upfront investment has to come from another source. A source like AFN can give you enough working capital to cover your monetary bases.
Whether those bases include:
- Heavy equipment financing
- Overhead and operating expenses
- Expansion and remodeling
All of these bases are covered through unsecured funding from AFN. In fact, these funds can be used for any business-related expenses you have.
The money is typically available within 2 to 5 days, depending on the requested amount. We don’t want you to get the wrong impression; there is an application process and there are eligibility requirements. The difference between our financing and traditional loans is that our terms are flexible. Where you pay a little bit more in interest, you also gain a flexible credit facility and collateral-free lending options.
This type of lending isn’t right for every business. Your business has to have been open at least six months. Also, it helps if you’ve taken the time to build a solid professional credit history; especially if you’re looking to barrow larger amounts, like the amount you put toward heavy equipment purchases.
Our helpful staff can give you more tips like this. If you don’t get approved right away, putting these tips in action will give you a better chance of getting approved down the road. To start your application process, contact us. We’re available by phone and live chat too.
We’re here to make good things happen for your business.
