The benefits of pre-qualification for your equipment financing
Many small business owners spend significant time going back and forth with equipment specs and spend virtually no time preparing the financing. Unfortunately, knowing how and where to get the money should be a first step and not an afterthought. The lack of up-front preparation for the finance process can lead to frustration on both ends of a transaction and a difficult experience. There is a simple solution that can better position you for success.
We are all familiar with the “pre-qualification” process of home ownership. Because of the complex nature of mortgages, it only makes sense to have a firm grip of how the asset is going to be purchased before you spend too much time in the purchase process. The process for acquiring financing for commercial equipment can be drastically simpler, but by completing a fast pre-qualification process you can dramatically improve the experience.
A quick pre-qualification program can:
- Help you focus on only the equipment you can afford, rather than wishing
- Open your eyes to more equipment once they see how affordable one item might be
- Help you shop and negotiate with confidence in the buying process
- Help eliminate the uncertainty and anxiety in the process
How to get pre-qualified
Establishing a relationship with an equipment lender is valuable for more than just the current need. Their expertise with the financial side of the equipment business can guide your direction, limit your confidential and challenging conversations from the equipment source and position you for long term success. It is also beneficial to partner with an equipment financier that has access to a wide range of offerings—from good credit to challenged credit—that can offer more options for a rapidly changing lending climate.
At Key Credit, we help business owners acquire equipment with competitive finance programs and make the process simple. If you would like to get pre-qualified for your equipment need, contact us today.