Here Plumhill Capital Group of Hendersonville, North Carolina takes up what Henderson County owners want settled before a request. Approval, rate and terms come from the funding partner that reviews it.
Is Equipment Financing Debt for a Henderson County, NC Contractor?
Yes. An equipment loan is debt on the contractor's balance sheet, secured by the machine. A lease may be recorded differently depending on its terms and the accounting rules the business follows, so ask the accountant how a particular lease will show. Either way, partners reviewing the next request will count the payment.
For a Henderson County, NC contractor, the practical point is cash: an excavator payment is a fixed monthly cost that the job list has to cover in slow months as well as busy ones.
Is Equipment Financing a Loan, or a Lease With a Purchase Option?
Equipment financing can be either. Under a loan the title is the business's on day one, with the lender's lien on it until the last payment. With a lease, the lessor owns it and the business pays to use it; a lease with a purchase option lets the business buy it at the end, sometimes for a nominal sum and sometimes at fair market value.
The written offer states which one it is. More detail is on the equipment loans page.
Is a Merchant Cash Advance a Loan? Why Hendersonville, NC Owners Should Ask
No. A merchant cash advance is a purchase of a share of future card sales. The provider pays a sum now and collects an agreed total from card batches. Hendersonville, NC owners should ask because the cost is set at signing and does not fall the way interest does when a balance shrinks.
Compare any advance with a line of credit or a working capital loan before signing; the cash advance page explains holdbacks.
Can You Refinance a Business Loan Once an Inn or Shop Has a Stronger Year?
Often yes. A business with a stronger year, higher revenue, a better credit history or more equity may qualify for a lower rate or a longer term, and a new loan can pay off the old one. Check the existing loan for a prepayment fee, and compare the total cost of the old and new loans, not only the monthly payment.
A request to refinance starts the same way as any other: call (828) 374-4055 or use the request form. The process page lists what partners review.
By Plumhill Capital Group ยท Updated