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Have you ever thought …

  • The financing process is too hard.
  • It’s a game where I feel like my lender is an adversary.
  • Financing takes too long and makes me feel like I’m on trial.

These are just some of the comments that emerged from recent third party research about financing for small businesses.

And if you have ever felt like this…just know there is a better way.

Here’s how it should work:

People matter most.
A commercial lending relationship has to go beyond a one-page application, an interest rate and a payment. While speed and simplicity are important, a lender without the qualitative understanding of your business, specific project understanding, where you’ve been and where you’re headed will likely leave you with unreliable experiences sooner or later. A lender that invests in you, just as much as they do “the transaction” is interested in a relationship. They understand that this is not the only need you will ever have and if they take the time to really understand your business, offering competitive solutions in a simple straightforward process, they’ll keep you coming back.

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The offices of SLS Financial Services (Kansas City, Sioux Falls, Pratt, Seattle, Houston, Minnesota) will be closed on Monday, September 4th to honor Labor Day. We hope you and yours have a safe and fun holiday! We will be back on September 5th to help you with your equipment lending needs.

In the meantime…

Did you know that Oregon was the first state to make Labor Day an official public holiday in 1887? It didn’t become an official federal holiday until 1894! Learn a little bit more about the unofficial end of summer, and let us help you get ready for the last quarter of the year:

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Breaking down the credit mystery: Character

Every day, our staff spends time educating business owners on the impact of their credit on finance needs. In this heavily financed world, there is still a great deal of mystery to most small businesses around how financial institutions evaluate them. So let’s unpack the core components of credit decisions (called the five “C’s” of credit) in a series of short articles that remove the mystery and arm you with the information to succeed with financing. Today we’re looking at “Character”:

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What’s your rate?  Great question ~ and let’s face it, yields for non-traditional borrowers are indeed higher – and justifiable so. But don’t let a higher cost of capital deter your desire to make big things happen in your industry.

The equipment or capital is what matters most.   Most businesses count on new equipment and capital to increase revenues, win more business, generally grow, and improve their financial position. The financial benefits of using the capital / equipment to earn revenue overwhelm the “real dollar” payment difference in an interest rate.

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Here is what we know!

Updating excavation equipment is favorable when wishing to increase the efficiency and quality of your fleet. 

From a lending perspective, earthworks equipment represents an outstanding collateral value because of their long life and strong resale value.

Summary: Underwriting for excavation equipment and earth work equipment should be relatively easy to finance with good credit.

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As we’ve covered in a previous post, the real estate market in Kansas City is robust right now, and buyers and sellers are rightly looking to capitalize on the opportunities this brings.

While there are many ways to purchase real estate, there is one option that gets overlooked: Rent-to-Own.

While these kinds of properties can be rare, it’s good to know the basics if you are seeking this method of acquistion.

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Purchasing capital assets is an integral part of every business. Whether the purchase be for a replacement, or for future sustained growth, you have put in the time researching, testing, and comparing countless pieces of equipment to find the one that best fits your business. Now here comes the fun part… the actual transaction of purchasing the equipment.

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If you are a professional real estate investor / renovator you may find that our commercial lending tools are of unique value to you.

Terms from 6 – 12 months with rates starting at prime plus 8; Flash Funding is available too!

For more information ~

Nicole Hall

Tel. Direct (816) 605-1204 e-Fax (866) 821-2439

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