The total economic impact generated by cannabis sales in the U.S. is expected to top $100 billion this year, up more than 12% from 2022, according to MJBiz Factbook. More and more states are legalizing the sale of cannabis for medicinal purposes so that number is likely to rise significantly in the future. Our [...]
Given today’s uncertain economic times, it’s more important than ever for businesses to have some liquidity, i.e., cash on hand or the ability to convert assets into cash. Liquidity is important for a business because it can directly affect its ability to take on new projects, secure loans and be prepared for emergencies. There [...]
from Clear Skies Capital https://www.clearskiescapital.com/3-ways-business-owners-are-tackling-liquidity-concerns/
via https://www.clearskiescapital.com
You’ve probably heard the old saying, “you need to spend money to make money.” Anyone who owns a small- or medium-sized business probably knows that to be true. And many owners also quickly learn that it may be necessary to borrow money at some point either to get through a dry spell or take advantage [...]
from Clear Skies Capital https://www.clearskiescapital.com/what-you-need-to-know-if-your-lender-requires-a-personal-guarantee/
via https://www.clearskiescapital.com
Despite challenges such as high fuel and equipment prices, labor concerns, shipping rates, inflation and recession talk, trucking and transportation are set for a return to normality for the balance of 2023 according to industry experts. That is good news for owners of trucking and transportation companies, since trucking remains the most relied-upon freight transport [...]
The ongoing potential for a recession as well as the realities of inflation, labor shortages and supply chain issues have cast a bit of a pall over the construction industry in 2023. The outlook calls for construction starts to remain flat through the end of the year, a significant departure from 2022, which saw them [...]
Americans love their pets. And that love is reflected in how much money we spend on them, with veterinary care accounting for one-third of total pet spending. With pet ownership staying steady at from 65–68% of households and pets living longer than ever as owners demand more complex treatment plans, the outlook for U.S. veterinary [...]
The restaurant industry isn’t for the faint of heart. About 60% of restaurants fail within the first year and even more—about 80%—fail within the first five years. Common reasons for failure are lousy location, inexperience, inflated costs, improper pricing, lack of marketing, and disorganization. On the flip side, however, are the 20% of restaurants that [...]
The U.S. population is aging, and that’s good news for many service providers, including the home healthcare industry—which is projected to grow at a breathtaking pace through 2031. According to the U.S. Bureau of Labor Statistics, employment in the sector will jump by 21%, with over 700,000 jobs added annually. That percentage is triple the [...]
The outlook for the plumbing and HVAC industries is decidedly mixed. On the plumbing side, after several years of growth, the industry is poised to notably slow down due to the combination of higher mortgage rates, residential construction slows, and labor shortages. On the HVAC side, while those same issues will have some effect, the [...]
It’s no secret that inflation has been exceptionally high this year and the Federal Reserve has been taking steps to help tame it, specifically raising interest rates at an unprecedented pace. The hope is that rate hikes will temper demand for consumer goods and services by making it more expensive to borrow money. There [...]
from Clear Skies Capital https://www.clearskiescapital.com/federal-reserve-clamps-down-on-inflation-and-the-impact-on-small-business/
via https://www.clearskiescapital.com
Death and taxes, right? Neither can be escaped. But sometimes the Internal Revenue Service (IRS) actually puts something in place that’s intended to help business owners. Meet Section 179, written to motivate the economy to move in a positive direction by encouraging businesses to purchase new or used equipment. Typically, equipment purchases are depreciated over [...]
According to the Dodge Construction Outlook, overall construction starts are expected to be flat in 2023 after an increase of 17% this year. That means competition for projects is likely to be robust—with companies able to show they are best positioned to do the work winning out over less-prepared companies. If you are the [...]
from Clear Skies Capital https://www.clearskiescapital.com/how-to-get-a-business-line-of-credit-for-your-construction-company/
via https://www.clearskiescapital.com
While the trucking industry has faced its fair share of challenges, it remains an important cog in the supply chain—almost 70% of U.S. goods are carried from one state to another by trucks. Even though more than 5.8% of jobs in the country are related to the trucking industry, there is a shortage of truck [...]
from Clear Skies Capital https://www.clearskiescapital.com/how-to-get-equipment-financing-for-your-trucking-business/
via https://www.clearskiescapital.com
While it’s no secret many economic indicators are decidedly negative, it’s not all doom and gloom. Prospects for construction spending on buildings have actually improved since the start of 2022; the mid-year update from the American Institute of Architects projected it to increase just over 9% this year and an additional 6% in 2023. [...]
from Clear Skies Capital https://www.clearskiescapital.com/how-to-get-equipment-financing-for-your-construction-company/
via https://www.clearskiescapital.com
Two different statistics seem to suggest it may be a good time to upgrade or expand your dental practice. The first is the fact that there has been a decline in dental practice ownership—in 2005, just over 25% of dentists under 30 owned a private dental practice but that percentage dropped to 9.5% by 2021. [...]
Equipment Financing: Capitalize on Your Business with Equipment Financing!
As your business grows, so does your need for better and more expensive equipment. Whether you're in the market for a new computer system, office furniture, or manufacturing equipment, Equipment Financing can help you get the items you need to keep your business running smoothly.
But before you dive deeper into this type of financing, let's take a step back and understand what equipment financing is and how a Bad Credit can affect this financing.
What is Equipment Financing?
Equipment financing is a loan that allows you to purchase the equipment your business needs now and pay for it over time.
It can be a great option if you don't have the cash on hand to pay for the equipment outright or if you have a bad credit history that makes it problematic to qualify for a traditional bank loan.
Benefits of Bad Credit Equipment Financing:
Equipment Financing with Bad Credit works by using the purchased equipment as collateral for the loan. If you default on the loan, the lender can seize and sell the equipment to recoup their losses.
There are various benefits of this type of financing:
1. Fast and easy approval
The approval process for Business Equipment Financing Bad Credit loan is usually much faster than that of a traditional bank loan. The decision is based on the value of the purchased equipment rather than your credit history.
2. Get the equipment you need now
If you need new equipment to keep your business running but don't have the cash on hand to pay for it, equipment financing can help you get the items you need now and pay for them over the next few years.
3. Flexible repayment terms
Repayment terms for equipment financing are often more flexible than traditional bank loans. You can make smaller monthly payments or defer payments until your business improves.
4. Keep your business running
If your business is facing tough times, equipment financing can help you keep it running by allowing you to purchase the equipment you need to keep things going.
5. Your credit score is not a hindrance in your financing option
While a bad credit score may make qualifying for a traditional bank loan difficult, it usually won't impact your ability to get approved for equipment financing.
The Bad Credit Equipment Financing decision is based on the value of the purchased equipment, not your credit history. So, even if you have bad credit, you may still be able to get the financing you need to purchase the equipment your business needs.
The Bottom Line:
Whether you want to set up your new office or want a Heavy Equipment Financing Bad Credit loan for another purpose, this financing is easily available.
You have to be careful about the terms and conditions attached to the deal.
Also, don't forget to check your credit score so that you are in a better position to negotiate for better rates!
So why wait? Contact a financing firm specializing in bad credit equipment and get started today!
If your business requires a good deal of equipment to operate, you may want to consider looking into equipment financing as an alternative to paying upfront for everything. If you think equipment financing is a pipe dream, you are incorrect. Everyone’s situation is different, so decisions will be made on a case-by-case basis, but simply [...]
For many people, owning a bakery is a labor of love, an opportunity to share their passion and prowess for baking cakes and other sweet goodies with customers who hopefully will become regulars. But don’t kid yourself—it takes a lot more than the ability to turn flour, sugar and other ingredients into craveable creations to [...]
It would be an understatement to say the last few years have been challenging for business owners. The COVID-19 pandemic upended just about every norm we’d come to take for granted—such as having the ability to serve customers in person and receive supplies on demand. Just as many industries began to recover, inflation reared its [...]
If your business survived all the challenges created by the pandemic, you may feel you deserve a well-earned “breather” to enjoy your accomplishment. Unfortunately, there’s another potential challenge coming your way if predictions of a recession hold true. As you may know, a recession is defined as two consecutive quarters of negative economic growth. [...]
