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10
Jul

3 Tips For Financing Construction Equipment

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Many people getting into the construction business, even those who have been in it for a long time, understand that part of starting up and maintaining a fleet involves leasing construction equipment, or financing it in a variety of other ways. There is an art to financing and leasing construction equipment and the more industry experience, and financial know-how you have, the easier it is to do. If you are thinking about financing new or used construction equipment, below are three tips to help you do it. Get your paperwork in order The thing that you want to do most when trying to lease or finance a new piece of construction equipment is make it clear to the lender that you are a good investment. One of the best ways to do this is to clear your corporate accounts so that lenders know you are solvent and are going to…

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14
Mar

Why You Should Get A Heavy Equipment Loan For Your Construction Project

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Anyone who has ever undertaken a massive construction project knows that one of the most useful ways to employ your working capital is with a heavy equipment loan and construction equipment financing. Big projects require big machinery, and while it’s often difficult to purchase things like excavators outright, there is a wide range of financing options available. Below are some reasons why you should get a heavy equipment loan for your construction project. Flexible financial solutions. One of the best things about a heavy equipment loan is that they can be tailored and structured to meet specific taxation, and accounting needs so that you are able to write off as much of the loan as possible. Preserve your capital. It is always difficult to predict exactly how a project is going to go. Unforeseen changes to schedules and plans, even plans falling through can end up costing you a lot…

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12
Sep

Before Applying For A Heavy Equipment Loan

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When your construction company needs capital, getting a heavy equipment loan may be the answer. The process can be a lot smoother when you’re working with the right lender. Here are some things lenders will want to know: Name of your company; Company address; Business owner contact information; Gross annual income; and Monthly credit card purchases. Be prepared for your potential lender to look at your credit history with a fine-toothed comb. They’ll figure out what you can afford and how they might be able to help you. What you should know beforehand Know your choices. What is it that you’re really after in a loan? Think about that before approaching a lender. Figure out what you think you can afford and what kind of terms you can live with. If you go in prepared, you’re more apt to get the amount and terms you were hoping for. Preparation is…

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