Outdoor Power Equipment News & Specials

So you've decided to start up your own lawn care business but don't have a wad of cash in your pocket for commercial-grade mowers and any other necessary equipment? That's okay. Financing your small business is a practical option to consider. But just like financing a car or house, there are some basic things to contemplate when taking out new equipment loans. 

• Financing your lawn care business is a great way to jump-start your venture. There are several options available for financing to fit your specific needs — Small Business Administrative loans, personal loans, and even small business credit cards.
• Finance new equipment can be key as it affords you the opportunity to hire staff, promote and build your business, as well as buying reliable and high-quality commercial mowers.
• Long-term loans vary from lender to lender but generally have long maturities for your major business expenses involving your lawn mower needs.
• Commercial mower manufacturers offer industry-specific financing through your local dealer. This can even be organized at the time of your purchase making it incredibly easy to buy commercial equipment. 

• As a start-up business, you may find it hard to get a loan. But that doesn't mean it's impossible, either. Financing is available, even for start-ups but you have to do your homework. Be prepared and organized. Research your equipment needs entirely and know exactly how much money you'll need to get started. Also, a good credit score is vital.
• Longer repayment periods might make your payments smaller, but it also means you'll pay more interest in the long run. If you can afford it, a large down payment can reduce your monthly and/or annual payments.
• Most financing companies will include a finance fee, as well as an application fee, for the right to finance. This will usually range from 2-8% of the total purchase price and is included in the life of the loan.

In conclusion, financing is a personal choice for you and your business. We work with several that we recommend including Sheffield Financial and Mower Finance and we'd be happy to help you navigate your options.

Article courtesy of Wright Manufacturing @ https://www.wrightmfg.com/articles/the-pros-and-the-cons-of-financing-lawn-care-equipment/

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