Machinery and equipment loans
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Having a business or company is more than just worrying about regular expenses and owning your own premises. This is why you will and might find yourself at the moment, in the need of requesting a wide range of credits, like machinery and equipment loans.
If you are a company that is indeed in need of replacing old equipment, acquiring new tools to expand services, or be more efficient, you will come across a big issue: machinery and equipment can be very expensive regardless of the type of business you have. This is why acquiring new ones is not what many companies, especially small ones, consider most of the time due to the additional expense they will have and are not sure if it is going to be worth it.
However, big companies also struggle with the same since it only means more equipment to obtain, repair, or replace to continue in businesses. This leads to another problem: you cannot rely on your savings and business’s funds most of the time due to the scale of the expense.
When in this position, you can choose to find a lender in Tampa and all over Florida, that can offer machinery and equipment loans instead of just general and commercial credits that do not usually cover those expenses. Actually, banks, pension funds, and similar lenders do not have this type of loan available in the first place, which is why you will have to rely on private companies or individuals willing to offer the funds under specific conditions just like other lenders.
At Commercial Real Estate Loan Pros of Tampa, we are one of the few companies in the city and state that can approve machinery and equipment loans regardless of your type of business and either if you are trying to buy new ones, replace them, or just start your business and cover this investment.
Requirements for machinery and equipment loans
Keep in mind this: the loans are not for individuals but rather businesses and companies. Therefore, our initial requirement is to know about your annual revenue or personal one in case you are a business that is just starting. A credit score is next along with the specific use of the funds and the type of equipment and machinery you will replace, purchase, or even repair.
Once this is reviewed, our team will get back to you and if the loan was approved, we will add the conditions and terms of the agreement that can be negotiated based on your situation and possibilities. Additionally, you must know that our company can vary a bit when it comes to requirements since these loans come in two options: full loans and lines of credit. You can decide to have the usual loan where we will approve of a specific amount and give it as soon as possible after establishing terms and conditions.
For the lines of credit, you can have something similar to a credit card and we invite you to visit our “Operating lines of credit” service to know more about them. But essentially, it is a matter of having a fixed amount of funds that you can access anytime and repay just as when having a credit card. Every worker and professional in our company Commercial Real Estate Loan Pros of Tampa is waiting to know about your needs and approve your machinery and equipment loans.
There are so many areas or regions where we offer these services with most of them being cities.
However, if you need any of these services, you need to contact us. The list below comprises the areas where we offer these services.