Rapid Business Lenders since 1969

Why Fast Business Loans Are Ideal For Equipment Financing

Loans

Purchasing equipment for your business can be critical, especially if that equipment is needed to take advantage of a time-sensitive opportunity. Without the right equipment on hand, such opportunities might slip you by, thereby undermining your business’s growth prospects.

Thankfully, fast business loans up to a value of $300 000 are available for equipment financing in Toronto through Rapid Finance Co.

Here are some of the reasons why you should consider using this resource.

Immediate Access To Funds

Having quick access to the capital needed for equipment purchases when needed can play a major role in ensuring the competitiveness of your business. As mentioned, this is particularly relevant when time-sensitive opportunities arise.

The fast turnaround times of fast business loans, which can be as short as 24 to 48 hours, mean that you can bypass the lengthy processes implemented by traditional lenders and get the funds you need in a time frame that helps rather than hinders.

Preserve Your Cash Flow

Cash flow can make or break a business, which is why it’s so important to find ways to preserve it wherever possible. Fast business loans can be a major help in keeping cash flow intact, as they enable your business to access funds for growth without having to dig into its cash reserves.

Cash on hand can therefore be directed towards operational imperatives instead of being expended on asset acquisitions. Through such loans, payment for the new equipment can be deferred to a more spread out monthly repayment schedule.

Asset-Based Financing Benefits

Getting approved for a fast business loan is already fairly straightforward. However, it becomes even easier to get approval when purchasing equipment, as the asset itself becomes attached as collateral.

As is well known, secured loans generally come with lower interest rates as there is inherently less risk to the lender. This is particularly beneficial to young businesses that don’t necessarily have a robust credit history or a strong balance sheet.

If you’re ready to finance equipment fast, we can help. Get access to fast business loans and secure equipment financing in Toronto here at Rapid Finance Co. Apply today!