LEASE VERSUS BANK LOAN
What Is The Difference Between Equipment Leasing and Bank Loans?
Equipment lease vs. bank loan: What’s the difference? Here at Allied Capital Group, we’ve got the answers and information you need. As you are probably well aware, the small business loan application process with your bank is very involved and requires a lot of information about your personal and business credit. Banks will ask to see your tax returns, business financial statements and personal financial statements. In addition, getting a small business loan approved by a bank can take up to several weeks or longer. It’s also difficult to get approval for your bank loan. Equipment lease vs. bank loan… what’s the clear winner? It all depends on your individual needs and financial situation.
Reasons to Finance Equipment
A lack of working capital or business credit can prevent you from getting your small business loan approved. That’s where equipment leasing can help. An equipment lease is a viable option for businesses of all shapes and sizes. It enables you to get common office equipment and highly specialized equipment and technology for a monthly payment that doesn’t break the bank. And you’ll be glad to know that financing is much easier than getting a small business loan, particularly with a top direct lender company like Allied Capital Group.
Business Funding Without the Wait
We have a simple one-page application that takes just minutes to complete. Credit approvals are provided in as little as one hour, and we have the ability to provide same-day funding. We hope this equipment lease vs. bank loan comparison sheds some light on the differences of each. And if you would like to move forward with an equipment lease, just submit your online finance application directly through the Allied Capital Group website.