Macomb County Term Loan Services

If you are in need of a Macomb County term loan for your business, please contact Liberty Business Financing at (586) 484-7887 for more information.

Term Loan Macomb County

7 Advantages of Term Loans

One of the most common forms of business financing, a term loan is a medium-to-long-term loan option with terms that last anywhere from one to 10 years. These loans provide a large amount of capital to the business in a single lump sum. As a provider of intermediate-term loans, for example, Bond Street offers small business debt financing for one to three years, for amounts ranging from $50,000 to $500,000.

Term loans have a variety of advantages, and can be the best option for financing large investments, such as hiring new employees; opening a second location; investing in a new piece of equipment; or buying a vehicle to expand production or services.

Depending on the reason for the loan, term loans have many advantages when compared to other forms of debt financing. However, before deciding which loan option is the best choice, it is important to research all alternatives and match the financial need with the life expectancy of the investment. Based on their length, term loans are best for financing a business’ long-term growth, and are generally used for purchasing assets that will not be converted to cash within a year.

Term Loan Benefits

Simple, Streamlined Application Process
Unlike many other lenders, Bond Street applicants enjoy a simple, streamlined online application process, and know within 48 hours whether the loan has been approved. When the loan is approved, funding occurs within 7 days.

Lower interest rates
Due to their longer durations, term loans are available at lower interest rates than shorter-term loans. Interest rates for Bond Street  loans are between 6 percent and 23 percent, (with 8 percent to 25 percent APR) depending on the length of the loan; the collateral used to secure the loan; and the borrower’s credit history. Additionally, the interest rates on term loans are fixed, and do not vary during the lifetime of the loan.

Allows operational cash flow to be used elsewhere
Term loans give the borrowing business the ability to use their cash flow in other areas, while the loan provides the funding needed for larger investments in the business. For example, a term loan can give a company the capital it needs to hire a new employee, covering the time it takes to train the employee and allow them to establish themselves within the company before beginning to contribute to the bottom line.

Fast Approval; Preserves Shareholder Equity
For businesses that need cash quickly, a term loan can be approved within a short time frame – anywhere from 2 days to 2 weeks, depending on the lender. This option is much faster than other forms of financing. Additionally, since a term loan is debt financing, it does not affect the interest of the equity shareholders, and keeps the company’s equity intact.

Flexibility
Term loans are flexible: the loan’s duration, amount and interest rate are all be negotiated before the loan is granted. The better the business’ and business owners’ credit scores, the more flexible and advantageous these terms are likely to be.

Accounting and Tax Advantages
The interest of a term loan is tax deductible, and the regular payment amounts allow for straightforward budgeting – the same amount is paid every month or — as in Bond Street’s case —  every two weeks for the duration of the loan.

Receiving a Term Loan and Making Payments On Time Boosts Credit Score
Regardless of which lender a business chooses, the loan can be used as an example of creditworthiness, making it easier to apply for and receive other loans in the future. By repaying a term loan on time and according to the terms outlined in the agreement, the business will be able to improve its credit score, which can ultimately lead to other financing opportunities at competitive interest rates. source: bondstreet.com

Please call Liberty Business Financing at (586) 484-7887 to see if your business qualifies for a Macomb County term loan. For more information about our Macomb County business financing programs please click here.

Construction Equipment Leasing Fulton County, GA

Call Liberty Business Financing at (586) 484-7887 to speak with our Fulton County, GA construction equipment leasing team.

10 Key Benefits of Construction Equipment Leasing or Financing

Construction Equipment Leasing Fulton County, GAGiven growing equipment demand amid ongoing economic uncertainty, many businesses find that construction equipment leasing is a key acquisition strategy. The current market shows equipment financing is as vital and available as ever, enabling businesses to secure the assets they need while achieving their operational and financial objectives. A closer look at 10 key benefits of equipment financing show that there’s no need to wait until the end of the year to acquire equipment.

1. Flexible Financial Solutions. The types of financing solutions equipment finance companies offer – especially leases – are flexible and can be tailored to specific accounting, tax or cash flow needs.

2. Capital preservation. Financing versus spending cash, and particularly the type of financing employed (lease vs. loan), can help mitigate the uncertainty of investing in a capital asset that may not yield the desired return or increase efficiency, cost savings or future sales.

3. Improved Expense Planning. Maintaining cash flow and consistent budgeting is another benefit of equipment financing. Instead of considerable capital outlays resulting in huge budget fluctuations, financing enables even expense planning.

4. Business Cycle Flexibility. Some types of leases allow for seasonal business fluctuations, lower monthly payments while a project is ramping up and revenue is not yet being generated from the equipment, and other specific circumstances.

5.Up-to-Date Technology. Many businesses couldn’t afford to outright buy the equipment they need to be competitive and thrive. With term financing, they are often able to acquire more and better equipment that may have been out of their reach if they only considered buying it.

6. Equipment Expertise. Many equipment finance companies are equipment experts and offer equipment specialties which other sources of finance do not. Equipment financiers have special relationships with manufacturers and distributors, specializing in certain equipment types or industry categories.

7. Managed Obsolescence. The risk of owning obsolete equipment is eliminated if you use lease financing for your acquisition since many agreements allow for easy, fast equipment updates. Most equipment finance companies, in partnership with their vendors, will work with your business to “right size” the equipment.

8. Dependable Asset Management. Asset management is a key benefit of many forms of equipment finance, ensuring equipment in operation isn’t under-utilized or over-utilized. A good asset management program tracks equipment throughout its life cycle from delivery to installation, use, maintenance and finally de-installation and disposition.

9. Equipment Disposal. Most businesses don’t have the resources or knowledge to efficiently manage and sell their old equipment. You may essentially outsource the equipment management function so the financing company can handle its disposal or resale when it’s time to retire the asset.

10. Reduced Risk. Equipment purchases involve risk to the owner, from equipment expertise to capital outlays, from asset management to obsolescence. Financing removes many unnecessary risks allowing you to focus on your business. source: forconstructionpros.com

Click here to learn more about our leasing and financing options for construction equipment.

If you are interested in construction equipment leasing in Fulton County, GA please call Liberty Business Financing at (586) 484-7887 today!