Lately, there has been a lot of attention given to the "credit squeeze" and how it's affecting small businesses. Anyone operating a business has to be a little unnerved reading headlines such as "Small U.S. firms face Credit Squeeze as Crisis Drags", "Banks Cutting Back on Loans to Businesses", and "Away From Wall Street, Credit Keeps Contracting".
Bankers are scared and rightly so - delinquencies continue to be on the rise and bank balance sheets have been damaged. So banks are only lending to their most credit worthy borrowers. Too often, the most credit worthy borrowers are determined to be the larger companies. Small businesses are left out in the cold. This has resulted in too many small businesses scrapping plans for expansion, or even having to close their doors for good.
When banks aren't willing to lend the money necessary for investing in new resources, it's time to find other alternatives. Small businesses do have options when it comes to increasing their business in these uncertain times. Tiger Leasing has put together the top 10 reasons why leasing is smarter than borrowing from a bank. Leasing companies have available lines of credit from a multiple of banks and other lenders. If you are a small business that has been in existence for at least two to three years and you as an owner have good personal credit, then it is likely that an equipment lease can be arranged quickly at very reasonable terms.
Equipment leasing allows you to acquire new machinery, software, technology, furniture, or whatever kind of equipment you need.Financing terms can be arranged that best fit your budget. The benefits of leasing are powerful, and can open up doors you may have believed were closed to your small business. Don't let the credit squeeze stand in your way.
With an uncertain economy it is important to find creative ways to keep your business running efficiently. Equipment leasing is one such way. Get innovative. Look outside the box. Get the information and facts to work around any road blocks the credit squeeze has put in front of your company's growth.
Labels: Equipment Leasing