The Pros and the Cons of Financing Lawn Care Equipment

So you've decided to start up your own lawn care business but don't have a wad of cash in your pocket for commercial-grade mowers and any other necessary equipment? That's okay. Financing your small business is a practical option to consider. But just like financing a car or house, there are some basic things to contemplate when taking out a loan.

The Pros

  • Financing your lawn care business is a great way to jump-start your venture. There are several options available for financing to fit your specific needs — Small Business Administrative loans, personal loans, and even small business credit cards.
  • Financing your equipment can be key as it affords you the opportunity to hire staff, promote and build your business, as well as buying reliable and high-quality commercial mowers.
  • Long-term loans vary from lender to lender but generally have long maturities for your major business expenses involving your lawn mower needs.
  • Commercial mower manufacturers offer industry-specific financing through your local dealer. This can even be organized at the time of your purchase making it incredibly easy to buy commercial equipment.

The Cons

  • As a start-up business, you may find it hard to get a loan. But that doesn't mean it's impossible, either. Financing is available, even for start-ups but you have to do your homework. Be prepared and organized. Research your equipment needs entirely and know exactly how much money you'll need to get started. Also, a good credit score is vital.
  • Longer repayment periods might make your payments smaller, but it also means you'll pay more interest in the long run. If you can afford it, a large down payment can reduce your monthly and/or annual payments.

Overall, financing your lawn care equipment can have its benefits and drawbacks. But if you're willing to do the research and find a lender who is willing to work with you towards your business goals, you can have a successful business with all the Wright equipment in no time.

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