Office Furniture Financing Options for Businesses
Providing small-to-medium businesses with the best office furniture financing advice and solutions needed to succeed.
Office Furniture Financing
When you’re starting a new business or expanding your operations, it’s easy to overlook the cost of office furniture. These items might not be as high value as machines but the accumulated expense can easily eat into your capital or savings, especially if you need to purchase several pieces at one time.
Financing office furniture is one of the services that Charter Capital provides. When the total estimated cost of acquiring furniture becomes too high to take from savings, we can help you find the right lender with the best rates and terms so your business can thrive.
With over 20 lending partners in our network, we guarantee to set you up with a caring financing provider who will be part of your growth journey.
Some of the office furniture that we can help finance are:
- high-quality office desks and chairs
- lobby and reception area furniture
- cubicles and dividers
- electric standing desks
- pantry furnishings
- conference room furnishings
- file organizers and cabinets
- storage racks
Looking for ways to finance your office furniture shouldn’t stress you out. With an experienced financial broker like Charter Capital to help you, you can purchase all the necessary items you need to equip your office and give it that professional and sleek finish it deserves.
Contact our team to learn more about the office furniture financing solutions available.
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.
How To Finance for Office Furniture: Key Factors To Consider
Taking the financing route for your office furniture is a practical decision, particularly if you have limited capital that you would rather spend elsewhere. You can increase your chances of getting approved for a financing plan by knowing what factors affect a lender’s decision early on. Here are some of the factors that are usually considered.
1. Your personal and business credit score.
The higher your credit score, the greater the chance that you will get approved for financing. Having a good credit history, supported by sound bank and financial statements, not only helps set you up for success faster, but it also tips low interest rates your way. Your good financial history shows you aren’t a risk to lenders. This also shows you have the capacity to repay your loan and know how to honor commitments.
2. Time in business and type of industry.
While not as important as your credit rating, the number of years you have been in business also helps you obtain a faster approval. When it comes to assigning risk, lenders will see the older businesses as more established and stable. If you’re just starting out, don’t worry. You can still qualify for office furniture financing or any type of equipment financing, but be prepared to pay a little more in interest.
3. Amount you are requesting to finance.
How much are you planning to borrow? The higher the financing amount, the higher the interest rate would be since this is computed against your principal sum. If you need a large amount to equip your office, you can opt to put up a high-value collateral against your loan to increase your chances for approval.
When in doubt, you can always talk to the financing specialists at Charter Capital, who will gladly assist you in preparing all the requirements needed for your loan application to succeed.
Benefits of Financing Office Furniture
Financing office furniture does not always mean you don’t have the funds to purchase your office needs. It is even considered a smart move, especially if you’re planning to equip an entire location from scratch.
Financing not only helps you reallocate your savings to growth-driving strategies but it can keep you in good graces with lenders you might want to tap for larger purchases in the future. Taking out a loan is a great way to build creditworthiness, and getting started on smaller ticket items like furniture helps create a positive reputation for you.
Aside from the obvious instant savings, office furniture financing also comes with valuable tax breaks. In fact, Section 179 of the Internal Revenue Services’ tax code allows for businesses to claim a full deduction on equipment purchases for the current year, including office furniture. This immediately translates to liquidity that you can use to fund other initiatives to boost sales and improve operational efficiency.
To learn more about office financing options or any other equipment financing solutions that would best suit your business, get in touch with the Charter Capital financing experts today.