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Gym Equipment Financing

Helping gym owners find equipment financing services that are right for them.

Gym Equipment Financing

Charter Capital has been in the equipment financing industry since 1977. We’ve worked with thousands of clients to uncover and obtain the smartest financing solutions. Working with multiple gyms over the years has given us a unique understanding of gyms and the financing challenges they face.

We also understand that the gym equipment financing process can be very complex, confusing and intimidating. This is especially true if you are not familiar with the subtleties and potential pitfalls of commercial borrowing. Fortunately, Charter Capital can lead you to the ideal loan for gym equipment, with the right terms and the right conditions for your company.

We can finance just about any type of equipment or software from $10,000 to $1,000,000.

Furthermore, we can structure level payments, seasonal payments, skip payments or balloon payments so that you have flexibility in your gym equipment finance terms. Here are some examples of what we’ve helped, both new and established gyms finance in the past:

  • benches
  • floor mats
  • free weights
  • treadmills
  • Smith machines
  • televisions
  • stationary bikes
  • stair masters

If you need a reputable lender to finance gym equipment, Charter Capital can help you find one. Contact us today to chat about your unique situation and financing needs.

Some of our customers

  • Are interested in the lowest rate.
  • Are interested in a specific tax treatment.
  • Want to avoid breaching existing lending covenants.
  • Are interested in the longest term.
  • Are interested in getting reimbursed for equipment they have already paid for.
  • Want seasonal or other cyclical structures.
  • Want to finance software.
  • Want to us to give the seller a deposit before the equipment is shipped.

All of our customers want a fair deal at a fair price and no surprises.

Commercial Gym Equipment Finance Tips

Securing a loan for gym equipment may feel like a daunting task. But with the right preparation and guidance from gym equipment finance experts, you’ll have the support you need to move forward with confidence. Incorporate these commercial gym equipment finance tips into your plan:

Explore Tax Benefits

There are government-created rewards in place for businesses that decide to obtain equipment loans. One tool to consider when pursuing a loan for gym equipment is the Section 179 tax deduction. According to the official Section 179 website:

“Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. That means that if you buy (or lease) a piece of qualifying equipment, you can deduct the FULL PURCHASE PRICE from your gross income.”

This provision is designed to relieve small to medium-sized businesses of the tax burden that equipment loans can cause in the same year the purchase is made. You can read the Section 179 guidelines to learn more about how to leverage this tool in your gym equipment finance process.

Formulate a Clear Financial Plan

Before a lender extends a loan for gym equipment, they’ll want to know that your business is worth the risk. Be prepared to clearly explain how the equipment will benefit your business and impact revenue.

In your financial plan, discuss the projected revenue growth and cost savings gained that will come as a result of the new equipment. If you have experience in the gym industry, share this information with the potential lender. This can increase your chances of obtaining gym equipment financing since lenders are more likely to trust someone with experience in the industry.

Work with a Financial Broker

A broad range of lenders will finance gym equipment. But how do you know that you’re getting the right deal and terms for your business? Knowing where to look for a loan for gym equipment is crucial when it comes to locating the right financing source. A financial broker like Charter Capital understands the commercial financing landscape and can connect you with loan options you didn’t even know were available to you.

Over the past four decades, Charter Capital has developed a network of banks and lenders across the country. Working with Charter gives you access to this network, widening the net of options that can finance gym equipment for you. Contact Charter Capital today to learn how we can locate the optimal financing solution for you.

Gym Equipment Financing with Bad Credit

It’s no secret that a high credit score increases your likelihood of securing a loan for gym equipment. But there are still gym equipment financing options available to those with bad credit. Read on for advice on how to secure financing with bad credit.

If you need a loan but have bad credit, getting a cosigner is one option. A cosigner agrees to assume the responsibility of the loan in the event that you are unable to pay it back. The cosigner must be in good financial standing in order to take on this responsibility.

Another option for securing financing with bad credit is to offer collateral. Collateral refers to an item of value that the lender can take if you are unable to pay back the loan. In most equipment financing loans, the equipment is the collateral. Those with bad credit will likely pay higher interest rates on the loan.

While you search for a lender who will finance gym equipment for your business, do the necessary due diligence—this means researching lenders and reading reviews about their services. Also, ask important questions about the lender, including “what size companies do you support?” and “what are the monthly payment terms for this loan?” Never feel pressured into accepting a loan deal.

At Charter Capital, we aim to simplify the borrowing process to help you grow your gym. We’ve earned the trust of many past clients due to our extensive gym equipment financing knowledge, and we hope to earn your trust as well. We’re here to assist in any way possible. Contact us today, and we’d be happy to share all the available options.

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