Shop Bot Community,
Any recommendations on any Equipment Financing companies in the U.S.? I do know about the ones on the Shop Bot website, but I figure there has to be more. Any trusted contacts would be appreciative.
Thank you,
Bart
Shop Bot Community,
Any recommendations on any Equipment Financing companies in the U.S.? I do know about the ones on the Shop Bot website, but I figure there has to be more. Any trusted contacts would be appreciative.
Thank you,
Bart
Pay cash. This financing companies charge LARGE interest rates, even if you are very qualified.
Don
Diamond Lake Custom Woodworks, LLC
www.dlwoodworks.com
***********************************
Life is not a journey to the grave with the intention of arriving safely in one pretty and well preserved piece; But to skid in broadside, thoroughly used up, worn out, bank accounts empty, credit cards maxed out, defiantly shouting "Geronimo"!
If you make something idiot proof, all they do is create a better idiot.
Bart
I leased my machine and worked out a good deal with one of the companies that shop recommended.
I don't have the info with me
I can get it for u on Monday
Leasing was the best option for me
Check with your accountant.
There are new tax laws for next year's equipment purchases
http://www.WoodworkingByErminio.com
Custom Cabinetry, Furniture ,CNC Services
Email:Wberminio@msn.com
914-666-8746 Shop/Office
Yup Don, I feel you on this one, but unfortunately I'm tapped. Finding some money to fund my new venture is the way to go. I'll bite the bullet, but probably have more fun working for myself as well learn some important lessons along the way. Lessons and experiences I won't get working for a large company.
Erminio- Thanks for the lead Post it here when you get a chance.
Thanks guys,
Bart
I went through this dillema a couple of times. Last time I paid cash that I took from equity, but there are a couple options more people don't think of. 1st, if you have a 401K, You can do a self directed 401K that allows you to invest in yourself without paying any penalty. Secondly, you can talk with your local bank. Many will purchase the equipment and lease it to you at very competative rates. But there again, your credit needs to be OK