Financing for start-up businesses can often be difficult, especially if the lender is unfamiliar with the industry or equipment that they are financing. Fortunately there are lenders that are comfortable funding credit worthy startups in the document destruction industry. The reason for this is quite simple: the failure rate is extremely low and the residual equipment value is extremely high, which mitigates the risk for the lender.
In most cases, start-ups are required to make a 20% down payment to the value of the equipment and the loan term is typically five years. In every case, the borrower has the ability to negotiate term, rate and conditions of the loan.
PEOPLES UNITED EQUIPMENT CORP.
Shred-Tech® has partnered with a leading independent financial services company, Peoples United Equipment Corp., f⁄k⁄a Financial Federal Credit, Inc., to deliver prompt, knowledgeable and flexible solutions for your equipment financing needs.
Peoples United Equipment Finance Corp. offers:
- wholly bank owned equipment finance company ⁄ $25B bank
- direct lender
- purchase money or lease
- over $20MM out in the mobile shred business
- will finance the shred equipment part of an acquisition
- 24-hour turn around once complete credit package is received
- dedicated to forming a relationship and becoming the finance vendor of choice
Contact J.D. Magness (office: 804-758-2359 or cell: 804-694-6183) for your personal consultation. J.D. has advised and provided financing for shredding equipment nationwide and is ready to help you today.
Intek Leasing provides leasing and financing for trucks and equipment. Specializing in truck leasing for recycling⁄shredding equipment, office equipment, and more. www.intekleasing.com