When you think of financing equipment, what do you think of? Forklifts? Cranes? You probably consider all kinds of heavy machinery, but there are other types of equipment you can finance that a small business may use.
To understand what some practical pieces of equipment are that small businesses can finance with an equipment loan, we’ve asked 9 thought leaders to share their recommendations.
Computer Hardware and Software
My company has financed computer hardware and software as well as furniture. We are not an equipment intensive business, so there are not a lot of opportunities for us to finance equipment. We have paid cash for computer equipment and furniture in the past, but decided to finance the last time around. Financing made the decision to go with higher end computers and furniture an easier choice. Of course they are more expensive, but financing them allowed us to spread the cost out over time.