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18
May

Equipment Financing vs. Leasing: What’s the Difference?

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Difference between financing and leasing

If you are thinking of taking out a truck loan, then you probably have some questions concerning the differences between equipment financing and leasing. The biggest difference between leasing and equipment financing is in the ownership. That is, when you lease a piece of equipment, then a vendor will allow you to rent it in exchange for monthly payments. This means you will not own the asset during the duration of your lease. Conversely, equipment financing serves as a collateralized loan that will provide you with the option to purchase the piece of equipment outright. In other words, once the…

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9
Mar

Working Capital Loans: What, Why, and When

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Working Capital Loans

Working capital refers to the money that a company uses to cover its rent, as well as its payroll, supplies, utilities, and other related daily expenses. Businesses will sometimes run into cash flow issues and may require a short term loan to help them get through a difficult financial situation. When this happens, they may turn to a working capital loan to pay for their expenses until they get back on their feet. Here, we will delve into the benefits of working capital loans, as well as the types of working capital loans available to businesses, and when to apply…

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2
Mar

Advantages and Disadvantages of a Heavy Equipment Loan

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Heavy equipment loans

The construction business is big in North America, with an estimated value of 1.3 trillion dollars in the United States alone. As such, many people who are thinking of starting a construction company will need to procure heavy equipment in order to run their business. However, heavy equipment tends to be quite expensive, so many entrepreneurs will turn to heavy equipment financing in Canada in order to obtain their heavy equipment vehicles. Here, we will break down the advantages and disadvantages of heavy equipment financing in Canada. Obtain the Necessary Funds The first pro is that you will get the…

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