How To Use Equipment Financing To Scale Your Business

In the rapidly evolving business and technology landscape, staying competitive means constantly upgrading your equipment. Yet, the high upfront costs can drain your cash reserves. This is where equipment financing comes into play.

Equipment financing provides your business with the cutting-edge tools and machinery it needs, allowing you to spread the cost over time instead of bearing the brunt of it all at once – while enabling your business to reserve its cash for future priorities. By choosing the right financing partner, you ensure your business has access to the best equipment to meet its objectives.

The result? Enhanced productivity, increased efficiency, and superior quality that set your business apart from the competition. Continue reading to discover how equipment financing can be the catalyst for your business's success by making advanced technology accessible.

The Many Benefits of Equipment Financing

Preserve Cash Flow

Equipment financing is your ticket to spreading costs into easy-to-handle payments over time. It saves you from dipping into your precious working capital just to buy equipment outright. Instead, financing lets you keep those funds for other important investments, while still obtaining the crucial new tools you need.

What's more, your payments can be designed to fit your revenue cycles, smoothing out your cash flow. With costs spread over time, financing gives you budget-friendly access to essential equipment.

Access to Advanced Technology and Equipment

Financing isn't just about buying equipment—it's about staying ahead of the curve. It enables you to purchase innovative tools and advanced systems that might otherwise be too pricey to purchase outright. Keeping up with the latest equipment keeps your company in the lead, boosting efficiency and expanding your capabilities.

Ownership and Tax Benefits

Financing doesn't mean you're renting—you're on your way to owning new equipment, but paying over time. Plus, some financing agreements come with tax deductions and possible credits*, reducing your overall financing costs. So you're not just getting new equipment, you're also potentially saving money in the process.

*Disclaimer: The information provided in this blog section is for educational purposes only and should not be considered tax or accounting advice. Stearns Bank does not offer tax advice. Please consult a qualified tax advisor or accountant to obtain specific advice regarding your business's tax situation. 

Customized Financing Solutions From Stearns Bank's Experts

When you choose Stearns Bank for equipment financing, you benefit from our specialized expertise and tailored solutions.

Extensive Expertise Across Industries and Equipment

Our wealth of experience, gained over decades of serving a diverse range of clients, gives us a deep understanding of the unique equipment and financing needs in a wide variety of industries. This expertise translates into intelligent solutions that are finely tuned to your specific objectives.

We recently acquired a majority stake in Contract Capital Corporation (CCC), further expanding our specialized financing capabilities. CCC provides niche financing services to Managed Service Providers in the evolving IT landscape. This strategic move adds depth and diversification to our nationwide financing solutions.

Financing That Fits Your Specific Needs

We understand that no two businesses are the same. That's why we offer customized payment options, competitive rates, and financing terms that are designed to align with your requirements. 

Streamlined Application for Rapid Funding

We've streamlined our application process to ensure you get the funding you need, fast. With a responsive team that picks up your call on the first ring, we're committed to delivering your equipment financing solution as quickly as possible.

An Equipment Financing Success Story

When GEM-Ash Processing decided it was time for an upgrade, they turned to Stearns Bank. With our guidance, they were able to secure both a state-of-the-art batch screener and a robust 730-C Caterpillar truck. This pivotal upgrade didn't just elevate their equipment set—it improved their overall operations, performance, and capabilities.

At Stearns Bank, we're not just lenders—we're partners. We are dedicated to helping businesses like GEM-Ash reach new heights of success.

Let Us Help Take Your Business to the Next Level

Every business has its unique needs and goals. That's why we individually tailor our financing plans to suit your specific requirements. With our equipment financing solutions, you can secure the indispensable tools that will drive your growth.

If you're in search of a devoted team that truly takes the time to understand your needs, look no further than Stearns Bank. Together, we can lay the groundwork for your business's bright future.