Finance

Equipment Financing Solutions for Budding Businesses – Here’s How You Can Apply for One

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Purchasing new equipment and machines or getting the older set up renovated or refinanced is extremely important for all business sectors. Whilst banks approve funds, that’s mostly reserved for bigger firms. Which is why investment firms like Accord Financial focus on small and medium sized enterprises alongside large enterprises so that every business gets equal opportunities for survival. So, no matter what sector you come from, you’ll be eligible to apply for all Accord USA equipment financing options. The amount approved will depend upon the value of your assets. 

Now, it’s natural that you’ll have a lot of questions about how funding by Accord is different from banks and most other investment firms. If yes, then the pointers below will resolve all your queries. Have a look!

  1. They Cater to Different Sectors

Accord has had clients from almost all market sectors including the ones listed below. 

  • Manufacturing
  • Distribution & Logistics
  • Mining & Forestry
  • Food & Beverage
  • Pharmaceutical/medical/Healthcare
  • Technology

So, whichever of these you are, you’ll be provided with the best funding options at this firm. 

  1. They Approve Funds of all Sizes

Small enterprises usually require smaller loan amounts and budding ones might require more cash to handle the need of buying more equipment and machines to support the increased production due to business expansion. So, whether it’s more funds you require or less, Accord will evaluate your assets, and provide as much financial aid as possible. 

The method for evaluation to determine how much funds can be arranged for you usually depends upon:

  • Accounts receivable. 
  • Equipment specifications. 
  • Market analysis. 
  • Financials.

These are, however, only a few factors. The evaluation is a much deeper task. 

Ergo, Accord can also provide funds to cover the soft cost like installation of the equipment, the delivery and maintenance, and so on. In other words, they’ll cover as much cost for you as they can. 

  1. They Approve Funds in a Short Span

While banks can take months to approve loans for equipment purchase, Accord takes much less time. 

  • It takes just a few days to approve loans that are less than $1 millions. 
  • For loans higher than $1 million, it takes anywhere between 1-2 weeks, and no more. 

Precisely, they won’t keep you in line for months for loan approval. 

So, to sum up, equipment financing that’s a type of asset based lending is easy to obtain when applied at Accord

Do have a look at their website, Accord Financial, for more details.

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