7 Industries That Can Benefit From Equipment Loans | Lendr
Working capital is often a necessary piece of any industrial business, especially those that require large equipment and machinery in order to perform and potentially expand. In fact, according to a study by Forbes, over 19% of businesses are looking for working capital specifically for equipment. With banks still facing considerable setbacks during the recovery from the recession, small business owners may feel as though they have limited options for equipment funding. Fortunately, with small business lending institutions, receiving financial support has become a seamless process.
According to a study by Forbes, over 19% of businesses are looking for working capital specifically for equipment.
Business owners no longer need to fear that their small businesses would fail or become stagnant without the necessary equipment. They no longer need to lack the financial resources needed to purchase equipment required for their operations. The following seven industries in particular can benefit from receiving equipment loans from a small business lender.
As one of the most important pillars of our economy, the agriculture industry can absolutely benefit from receiving small business funding for much needed equipment. Regardless of the stage of your farming operation’s life cycle, a small business loan can assist you in acquiring the machinery and equipment needed to run a farm. Equipment can range from tractors, to combine harvesters, to irrigation necessities, and more. All are necessary and in demand in order to maintain and keep up with the industry.
Equipment investments vary by industry, with construction leading the way. Within the housing area in particular, construction equipment will be one of those in high demand, due to an improving housing sector. However, aside from the housing piece, other aspects of the construction industry can benefit from equipment loans. Whether it’s highway and street construction, site preparation and excavation, concrete and asphalt, bridge and tunnel construction, or commercial real estate development, a small business loan could benefit your project and enhance your production.
Energy companies that can benefit from small business funding can include those that supply power to homes and businesses and those that drill for oil, gas, and other sources of fuel. Their equipment needs could range from offshore drills to solar power installers. Whether these businesses are delivering energy or extracting fuel, they require working capital in order to stay ahead of their competition, protect the environment, and safely manage their operations with the latest technology.
Providing people with state-of-the art technology and medical equipment is essential within the healthcare industry. Doing this requires both innovation and a financial partner, such as a small business lender. Equipment loans are frequently provided to senior housing, hospitals, pharmaceutical facilities and emergency clinics. Whether you require an immediate boost within your diagnostic imaging equipment or a quick replacement of a surgical device, an equipment loan can provide assistance in the fastest way possible.
It should come as no surprise that the recycling and waste management industry is expected to grow exponentially within the next 10 years, especially due to our surging population growth. Additionally, with businesses becoming “greener” and more efficient, an investment in recycling and waste management equipment is a must nowadays. With these increased demands, your recycling business will require more equipment to keep up with production. Whether it’s garbage trucks, dumpsters, recycling devices or shredders, an equipment loan will provide your business with the assets you need.
With businesses becoming “greener” and more efficient, an investment in recycling and waste management equipment is a must nowadays.
The telecommunications industry includes broadcasters, cable companies, and phone companies. With a competitive market, these businesses need to stay at the cutting edge of the latest technology in order to send and receive signals and deliver communication services to their customers. A constant investment in the latest hardware can be an ongoing struggle without working capital. However, through the use of small business lenders, these obstacles can be overcome with ease.
The transportation industry can include a variety of equipment needs, whether it’s maritime, trucking, airlines, bus lines, railways, taxi services, or express delivery services. These businesses need to buy and maintain the vehicles needed to transport people and goods. Access to working capital from a financial lender can help these businesses keep up with consumer demand, expand their businesses, and even improve and maintain their strong reputations among their customers.
According to the Equipment Leasing and Finance Association, “In 2016, a projected $1.627 trillion will be invested in plant, equipment and software in the United States."
A lack of working capital does not have to create any operational issues. It doesn’t have to be an overwhelming or long-term problem either. It can easily be corrected through a third party lender. Options to relieve a lack of capital are available to you. According to the Equipment Leasing and Finance Association, “In 2016, a projected $1.627 trillion will be invested in plant, equipment and software in the United States. Approximately 64% or $1.049 trillion of that investment is expected to be financed through loans, leases and lines of credit.” Get the small business funding you through Lendr need through a direct lending company so that you can acquire the equipment that will help your business thrive.