Financing for businesses

I generally don’t use this forum to promote equipment leasing or our business but had some recent experiences I thought worth talking about.

If you have a small business, there are other options than banks for financing.  Today banks cater to businesses and individuals that don’t need to borrow.  For those clients banks will provide the best rates and other perks (you could call those folks the 1% if you will).  For everyone else, banks are not interested in you except as source of funds (you leave your money with them and they give you zero interest and often many fees in return).  That’s incredibly frustrating.

I recently looked at mortgage financing.  I found it incredible at how difficult a conventional bank made the process.  When we borrowed to purchase our home 17 years ago, we opened and closed escrow in 13 days.  When we got a home equity line 8 years ago, the process was completed in 1 day.  For this transaction, not much different than either of those it will take longer than a month (really???).

A private funding source such as a lease company like www.fitleasing.com will help deal with the stuff that a big bank puts you through.  You may pay a little more (or maybe not) but it’s definitely worth having someone working on your behalf who knows your needs and how to work through the bank’s baloney.  It will certainly be a more enjoyable experience. 

About Joe Schmitz

Joe Schmitz has been involved in equipment leasing and finance for over two decades. Joe has a special area of expertise in the fitness industry, having placed funding in excess of 100 million dollars for small to medium sized health clubs, Joe has also funded general equipment projects throughout the United States. Currently one of approximately 200 Certified Lease Professionals (CLP) in the United States.
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