One of the most profitable investments that a business can make is to purchase new or used business equipment. However, for many small and mid-sized business owners, it’s also one of the most difficult transactions to move ahead with.
This isn’t because they don’t want to increase their revenue and profit potential, or because they can’t find the business equipment they need. Thanks to the internet, businesses located in even the most remote “out of the way” areas can purchase virtually any equipment they want or need, and have it shipped to their door in a matter of days.
Rather, it’s due to the fact that banks are VERY reluctant to approve loans to purchase business equipment, as the path to ROI can take several months or even years (depending on the cost of the equipment).
What’s more, banks demand collateral for business loans, and many small and mid-sized businesses don’t have enough. It’s a classic Catch-22 scenario: businesses need cash so they can purchase equipment and have assets to pledge, and banks demand pledged assets in order to approve a loan.
Fortunately, there is a simpler, smarter and straightforward way to get business equipment funding within a matter of days: contact Mulligan Funding.
Business Equipment Funding with Mulligan Funding
At Mulligan Funding, we provide businesses across the country with working capital loans that they can use to purchase equipment, technology, or spend in any way they wish. Unlike banks, we don’t tell our clients how to spend their money. We believe that they – not us – are in the best position to know what needs to be done to make their business strong and successful.
Also unlike banks:
- We don’t require perfect credit – in fact, bad credit or a past bankruptcy is not a deal breaker.
- We don’t ask for collateral of any kind, and so there are no under-evaluation concerns or Catch-22s.
- We don’t have an excessively complicated application – ours is 1-page and can be completed online in a matter of minutes.
- We don’t take months to review an application – we take 48 hours or less.
- We don’t impose prepayment penalties for clients who pay their loan back early. Yet with this in mind, we’ll never ask for a loan to be paid back ahead of time.
- We’re open to providing our clients with a second loan if they need additional cash. If approved, the new funding is not use to pay back outstanding amounts from the old funding. To our knowledge, we are the only company in the alternative lending marketplace with this “no double fees” policy.
What’s more, once we approve an application, and our client in turn approves our proposal – which transparently shows all numbers and dates – we advance the funds within days. Because sometimes the only thing more valuable on the business landscape than cash is time, and we get that!
Call Mulligan Funding at 855-326-3564 to discuss your financing options today!