When you’re running a business, you need to make sure that your assets are properly taken care of so that they last as long as possible. It can be hard to keep track of all your equipment finance and tools while also trying to manage other aspects of your company. That’s why it makes sense to use equipment inventory software to help you keep a database of everything in your warehouse or onsite.
Value-Added Financing
Value-Added Financing is an option that allows your equipment to be financed with a loan, but with no fixed payment schedule. Instead, you'll be able to pay off the amount owed according to how much money you make from using it.
This means that if there are months where sales are slow or even non-existent, then you won't have any payments due until your business picks back up again--this can help avoid cash flow issues and keep things running smoothly for both parties involved (the lender and borrower).
Flexibility and Control for Your Business
Equipment finance is a flexible way to manage your cash flow, and it can help you get a better deal on your equipment.
It allows you to choose the right financing option for your business by offering:
- Flexibility--you can choose how much money you want to borrow, when you want to borrow it, and how long it will take for repayment;
- Control--you control who gets paid first when there are multiple vendors involved in providing services or products;
- Consistency--the same terms of payment apply regardless of whether an invoice is issued today or several months from now (this provides predictability);
You Can Finance a Wide Range of Products
You can finance all kinds of equipment, from new to used. Whether you're looking to buy a piece of machinery or upgrade your existing equipment, financing is available for all types of products.
You can even use it as a way to start up a new business by purchasing tools and machinery without having to worry about coming up with the money right away.
Keep Track of Assets with Equipment Inventory Software
In order to keep track of your assets and make sure they're getting the care they need, you'll need to know what you have in the first place. If a piece of equipment breaks down or isn't performing as expected, it can be difficult to determine if there's a problem with the equipment itself or if something else is going on.
There are several different ways to track your assets: using inventory software; using spreadsheets; or manually keeping track of each individual item. While each option has its pros and cons, we recommend utilizing an automated system so that all information is readily available at all times without having to spend time inputting data into spreadsheets or manually entering information into databases.
Conclusion
As you can see, equipment finance is a great way to grow your business and take advantage of the opportunities that arise.
Whether you're looking to expand your inventory or upgrade existing equipment, it's important that you know how much money you'll need before starting any new project. By doing this research ahead of time and having an idea about what types of loans are available (and where), it will help reduce stress when it comes time for financing decisions!