Bank of Southern California offers a wide range of financial services, including equipment financing to help maintain your business. With the support of our knowledgeable bankers and quick decision-making, equipment financing can offer many advantages for small business owners.
What is Equipment Financing?
As a one trillion-dollar industry in the United States, equipment financing is a desirable and efficient method for small businesses, especially given the current economic climate. Equipment financing allows businesses to procure equipment and technology infrastructure at a fixed rate for a fixed span of time without using working capital or business lines of credit. The amount of money a business owner is eligible to borrow is based on the type of equipment and whether it is new or used. At Bank of Southern California, we know that each business is unique, so we provide flexible options and customized services that enables all types of businesses for success.
1. Ownership Risk
If you’re a recent start-up, equipment financing can help you mitigate the uncertainty of investing in this asset until it meets your business objectives.
2. It Works Fast
Other traditional forms of financing may be much more time consuming with approvals and lengthy documentation. Our bankers work fast to make credit decisions.
3. Preserve Cash Flow
Through equipment financing, you can conserve working capital and maintain your cash flow without having to pay some of the upfront costs.
4. Potential Tax Benefits
Business owners may qualify and take advantage of tax benefits when equipment is leased rather than purchased.
Contact one of our expert bankers at your local Bank of Southern California branch today to see how you can start growing your business with equipment financing.