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I need a loan to buy a new machine for my business, any idea where I can apply?
The machine I need It is a hot pressure washer but I am not sure If I have to go direct to the bank or with a loan company. If you know of any loan company dedicated on this kind of loans could be great if you provide me with the information.
Thanks!
Attention.
Any dumb answer has to be reported.
6 Answers
- ANNLv 61 decade agoFavorite Answer
You can do the followings to finance the purchase.
1. Apply for small business aid.
2. By means of hire and purchase.
3. Payment by installments with cash or credit card.
4. Pledge the machine to a finance company and pay by installment.
Never buy off the machine with credit card, the interest is too high.
Source(s): retired from business - 1 decade ago
You should try the US govt. they have something called an SBA loan (Small Business Loan)....you only have to put up 20 percent to get the loan (50000 = 10000.....20000=2000) and they stretch out the loan for 7-10 years....you only need to be a business to get one...
Your bank should know what needs to be done...
- HenryLv 71 decade ago
Lease the machine from the company with the option to buy for $1 at the end of the lease term.
- Ryan MLv 71 decade ago
You can obtain financing from the manufacturer if offered or you apply at a bank. You could also finance it with a credit card.
- 1 decade ago
You can goto Lendingtree.com and apply...Then they match you with lenders...The dealership can also match you with lenders, but normally have to have a down payment. But you can also go thru your bank and discuss your options with them!
