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Perhaps you’ve probably been a little underwhelmed by how little some finance alternatives may know about your business. Sure, they can talk about blended interest rates and residual values or even operate a funny calculator that uses something called reverse polish notation. Yes—that’s really a thing. But what they can’t seem to do is “get” you. Because of this, business owners try to figure things out on their own and stop seeking advice. Well… stop that. You’re looking in the wrong place.

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We think there MANY reasons to use equipment financing. We’ve curated multiple lists in the past, but we think this is our most complete list yet. Take a look at our top ten reasons to use equipment financing.

  1. Free up cash for essential business operations

You may have heard the old saying, “Don’t spend all your money at once”. This popular childhood saying can be applied to your business as well. Purchasing new equipment can be an expensive endeavor. However, by utilizing financing options you can leave money for other aspects of your business whether it be hiring a new employee, stockpiling material, upgrading other equipment, or hedging unforeseen business risks/expenses. Whatever your reason, it is always smart to know how much operational cash is required for your business.

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As I have been driving in nearby counties – running errands, visiting family and friends – I have been noticing parking lots of various businesses (like gas stations, for instance) sporting new 4-wheeled additions to their paved properties. Even more curiously – they smelled delicious!! Curious as to what was wafting my way, I found a few great new food trucks that have enjoyed my repeat business. A few recent trips have been filled with mobile masterpieces as well, and I began to wonder if there was something to this increase.

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Equipment needs? We are going to explain our simple, uncomplicated financing calculator. Along the way we hope to raise your awareness of your financing options.

First a little background ~ They say knowledge has the right answer. Intelligence is asking the right question.

Working with a large number of small businesses over a wide variety of industries seeking the best alternatives to acquire equipment, we see the same mistakes made over and over.

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It’s back!

A solid building economy has returned and we expect & hope that this will be sustained well into the future. For foundation contractors, this may mean the purchase of Aluminum Concrete Forming Systems, trucks, cranes, trailers, etc. We also offer Business Loans for Basement Construction Companies in need of working capital.

While these systems may be problematic collateral for many lenders, mainly due to the fact that they are not serialized, this is the not the case for us. As a matter of fact, we have been assisting Foundation Contractors since 1988 and are members of the Concrete Foundation Association.

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Trends have a way of continuing ~ usually for long periods of time. Think about it ~ the American Economy is a very, very large ship and it take time to make shifts. However, a shift has indeed been made. The prime interest rate has increase 4 times in the past couple of years – including twice since our last article on the subject at hand. Here is that history and the shaping of what we think is a long-term trend.

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

In the meantime…

Did you know that Independence Day wasn’t an official federal holiday until 1870? How about the fact John Hancock was the only one to sign the Declaration of Independence on July 4, 1776? Everyone else signed after. Do you know which signers of the Declaration of Independence later served as President of the United States?

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There seems to be a consistent subject on the rise in the news recently. Automation, automation, automation! From kiosks, to industrial robots adding that extra umph to an assembly line, robotics are continuing to make their way into the mainstream. Don’t just take our word for it! The Robotic Industries Association, the industry’s trade group, put out a few statistics that showed that North American robotics companies had their best quarter EVER – “An all-time high total of 9,773 robots valued at approximately $516 million were ordered from North American robotics companies during the first quarter of 2017. This represents growth of 32 percent in units over the same period in 2016, which held the previous record.” Don’t forget that the markets are at all-time highs this year as well… Let’s just say the growth period for this industry isn’t slowing down any time soon.

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