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This also allows you to borrow more than the value of the equipment. The alternative is a hire purchase, which means the bank or lender retains ownership of the equipment until the loan is settled. Equipment financing enables you to pay for the equipment over time instead of paying for it all at once. The reduced initial cash outlay can help you save money for future business expenses and initiatives.

Companies need to have cash reserves in place to soften the blow if a negative event impacts the company’s bottom line, such as a recession, rising costs, or the loss … Read more