For any small business outside of the retail sector, making a living can come down to the equipment you need to be able to count on day in and day out. Getting the right equipment can be the difference between years of dependable output and costly, time-consuming repair or replacement when something fails.
It’s imperative for small business owners to be able to obtain the equipment they need, when they need it, without a significant disruption to their business’ finances. This is why Merchant Advance is proud to offer its newest product, an equipment leasing solution that is designed to let you lease equipment as easily as taking out a loan, and also to have the option to refinance equipment you already own.
Equipment leasing is a critical part of the small business landscape. As of 2015, nearly 8 out of 10 (78%) of businesses in a North American survey used at least one form of financing when acquiring equipment (excluding credit card use).
The majority (25 percent, approximately) of equipment leasing is for automotive assets, followed by construction and manufacturing equipment. It is estimated that the Canadian asset based finance and leasing market has approximately $84 billion invested, of which approximately $40 billion is comprised of equipment and commercial vehicles with the balance made up of retail vehicles.
What piece of equipment could your small business not live without? Imagine not being able to finance it through traditional banking options, or worse, being tied to a financing agreement that is hard to justify. This is where Merchant Advance is ready to step into the equipment leasing space and provide flexible, affordable options for all small businesses.