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19
Oct

8 Construction Startup Tips

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Construction startup tips

Obtaining construction financing is easier said than done, and the process that needs to be followed in order to start a new construction business is not child’s play. However, the construction industry is a high-growth one, so there are plenty of opportunities for success if you follow the right guidelines. Here, we will discuss some handy construction startup tips to help maximize your chances of success. 1. Determine Your Sector There are primarily 3 main construction sectors; namely, industrial, infrastructure, and buildings. Industrial includes chemical plants and mills, while infrastructure includes dams, bridges, and roads. As for the building sector,…

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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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4
May

Reasons to Consider Construction Equipment Financing

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Construction equipment financing

There are many reasons why businesses seek out construction equipment financing in Canada. For instance, the intensive nature of the industry will often necessitate the purchase of compact attachments and equipment to get to hard-to-reach spaces, as well as heavy-duty equipment for larger projects. Moreover, construction businesses will also require office equipment and IT tools to handle many clerical and administrative tasks. Here, we will discuss some of the most important reasons why you may want to consider construction equipment financing for your business. Flexible Options Most equipment financing enterprises will offer their clients many different flexible options to accommodate…

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