{"id":2987,"date":"2015-01-28T17:39:54","date_gmt":"2015-01-28T17:39:54","guid":{"rendered":"https:\/\/www.arffinancial.com\/development\/?p=2987"},"modified":"2021-10-01T14:14:35","modified_gmt":"2021-10-01T18:14:35","slug":"guide-to-affording-new-equipment-for-your-small-business","status":"publish","type":"post","link":"https:\/\/www.arffinancial.com\/development\/guide-to-affording-new-equipment-for-your-small-business\/","title":{"rendered":"Guide to Affording New Equipment for Your Small Business"},"content":{"rendered":"<p style=\"text-align: left;\">Have you been thinking about upgrading the equipment at your small business? From computers to heavy machinery, specialized equipment helps your small business run more smoothly and efficiently, but requires a significant investment of capital to purchase.<\/p>\n<p style=\"text-align: left;\">If putting down a large sum\u00a0of money for new equipment would hurt your cash flow, consider these\u00a0options:<\/p>\n<h2><strong>Buy Pre-owned Equipment<\/strong><\/h2>\n<p><a href=\"https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2015\/01\/kitchen-515388_640.jpg\"><img class=\"alignnone size-full wp-image-3023\" src=\"https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2015\/01\/kitchen-515388_640.jpg\" alt=\"affording new restaurant requipment\" \/><\/a><\/p>\n<p>Buying pre-owned equipment can save you a bundle of money.<\/p>\n<p>Similar to cars, a lot of equipment will remain mostly the same through the years with slight feature\u00a0upgrades<strong>.<\/strong>\u00a0Consider that<strong>\u00a0<\/strong>it used to be standard for a car to have a tape player, then a CD player and now a\u00a0USB port.\u00a0What did not change is that the\u00a0car needs to steer and move you from place to place.<\/p>\n<p>The same goes for equipment. Think about what you truly need for your small business to be successful and then decide how much you are willing to pay for extras &#8211; if anything at all.<\/p>\n<p>If you decide to purchase\u00a0used equipment simply ask for a warranty should anything go wrong within the first 30-days or so.<\/p>\n<h2><strong>Seek Out Government Deals<\/strong><\/h2>\n<p><a href=\"https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2015\/01\/kitchen-480953_640.jpg\"><img class=\"alignnone size-full wp-image-3022\" src=\"https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2015\/01\/kitchen-480953_640.jpg\" alt=\"seek out government deals for new equipment\" \/><\/a><\/p>\n<p>The government may be a great place to get new or gently used equipment. When they seize equipment they put it up for auction, usually at very fair prices.<\/p>\n<p>Local, state and federal agencies have specific rules for the auctions, but you can often get a great deal.<\/p>\n<p>Contact your local Chamber of Commerce for information.<\/p>\n<h2><strong>Consider a Lease<\/strong><\/h2>\n<p><a href=\"https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2015\/01\/coffee-206142_640.jpg\"><img class=\"alignnone size-full wp-image-3021\" src=\"https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2015\/01\/coffee-206142_640.jpg\" alt=\"some equipment has a short lifespan so you can consider a lease.\" \/><\/a><\/p>\n<p>Equipment can have\u00a0a short life span and in some cases it can be a better financial decision to lease than to buy.<\/p>\n<p>Leasing can ease the burden of upfront\u00a0costs and a lease often comes with a solid warranty for the entire lifespan of your contract. Just be sure to review the terms and conditions with a keen eye to prevent the surprise of hidden costs in your monthly bill.<\/p>\n<h2><strong>Take out a Working Capital Loan<\/strong><\/h2>\n<p>Whether you&#8217;re still planning on buying new from the factory, or you decide to lease or seek out used equipment, the upfront cost can be a burden on your cash flow.<\/p>\n<p>A great option for established business owners is to take out a<a href=\"https:\/\/www.arffinancial.com\/development\/loan-products\/working-capital-loans\/\"> working capital business loan<\/a>.<\/p>\n<p>With ARF Financial, you can receive approval within 7-10 business days. Collateral is not necessary for loans under $500,000 and because you&#8217;ll be receiving a real bank loan the interest is tax deductible!<\/p>\n<p>Learn about the <a href=\"https:\/\/www.arffinancial.com\/development\/get-approved-working-capital-loan\/\" target=\"_blank\" rel=\"noopener noreferrer\">approval and payback process for working capital loans<\/a> today!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Have you been thinking about upgrading the equipment at your&#8230;<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[111,698],"tags":[],"class_list":{"0":"post-2987","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business-financing","7":"category-small-business-financing"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - 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