Total Ink Solutions Guide to Financing Equipment
Screen printing equipment isn't cheap, and for small businesses just getting their start in the world, financing can help. At Total Ink Solutions, we help businesses like yours connect to the right financing opportunities. We have partnerships with multiple lenders, so you can find the right type loan for your business. If your screen printing business needs equipment, and you're having a hard time finding the capital you need to make important purchases, take a look at our financing options available.
Who Benefits From Business Financing Opportunities
Lots of different businesses take advantage of business financing, including:
- Screen printing businesses (small garage shops to large commercial operations)
- Digital printers
- Sign makers
- Car wrap businesses
- Heat transfer vinyl decorators
Why Financing Is Important
Lots of businesses aren't able to put forward large amounts of money for the most modern equipment available, yet if they could, they could increase their production, make their business more competitive, draw in more customers and even grow their operations.
The right financing package allows businesses to buy equipment today and pay it off for a reasonable, affordable fee. In other words, financing is what makes business growth attainable and realistic. Businesses that have no access to capital often stagnate in their growth because they can't make profits fast enough to buy the best and most modern equipment. This makes them less competitive and can eventually drive them out of business.
What to Look For In Financing
When you're trying to find a loan package for your business, here's what to consider:
- Application process. How complicated is the application process? How long will it take to get a loan? Does the application need to be filled out in person, or can you do it online? How long will the application take to be approved?
- Lender customer service. Some lenders provide expert customer service all the way through the loan process, while other lenders provide limited customer service and are largely hands-off. Know what's important to you and seek it out.
- Fees and interest. Compare the fees and interest in each loan being considered. Look for the most competitive pricing.
- Payment details and schedule. Know how long it will take for you to repay any loan, how much the monthly payment is and how much you'll pay over time. Also, find out what you need to do to pay back the loan.
- Lender reputation. It's best to find out about the lender through a source you trust. Maybe you've used that lender in the past, or the lender was recommended by a business you trust. Either way, reputation matters - so find the lender through a source you trust.
Financing Options Available
Total Ink Solutions has aligned with three reputable lenders to offer competitive loans to our clients. When you're trying to decide which lender is for you, we encourage you to:
- Shop around.
- Ask lots of questions when contacting lenders.
- Choose a lender that provides the kind of customer service you expect.
- Have your financial information in order when you contact lenders to make the conversations easier.
Credit Key offers short-term financing for supplies and products. Borrowers enjoy 0% financing for 30 days, and terms up to 12 months. For a borrower looking for a short-term loan, Credit Key is great for 30, 60 or 90 day loans.
Credit Key works like an open credit line that can be used for all purchases, similar to a credit card. Borrowers only pay for what they borrow. Approval happens in minutes and credit lines go up to $50,000, so you can have the flexibility to buy what you need, when you need it.
Quick Spark offers a one-time lease process per application for a specific piece of equipment. If your company is a startup or small business that needs to finance that first piece of equipment just to build a customer base, Quick Spark is the company for you.
Quick Spark loans are paid back in relatively low monthly payments. For businesses with little credit history or poor credit history, Quick Spark is an excellent option.
Geneva Capital is the best finance company in the industry for established companies in screen printing and digital printing. Geneva Capital is a good resource for mature businesses with a good credit history. They're a direct lender, which generally means great customer service and loan officers who are able to keep the best interests of the customer in mind.
Geneva Capital offers 100% financing and an online application process that is fast and easy.
Not Sure Which Lender Is Right For You? Seek Help From a Pro
Total Ink Solutions cannot provide accounting services to our customers. If you're not sure which lender is right for you, seek help from a professional. We recommend that you speak with an accountant first to make the best decision for your business.
If you need help choosing screen printing equipment for your business, we're happy to answer your questions. Contact Total Ink Solutions to find out more about each piece of equipment we sell.