The word “equipment” in relation to small businesses is very misleading. When most people think of equipment, they typically envision hardware or large, complex pieces of machinery. This association explains why anyone outside of the business world might not understand the ongoing need for solid equipment in virtually every kind of business.
The true definition of equipment for a small business encapsulates almost anything that is used by employees or the business itself, tangible or not, that isn’t inventory. Laptops, swivel chairs, software, heating systems, headphones, it’s all equipment. With this updated definition in mind, it’s not too difficult to comprehend why there is always some form of new equipment a small business would like to get its hands on for the sake of increasing productivity or revenue.
It seems like every day, new software is released to make operations even more efficient. Whether it’s project management apps, website development tools, or databases for tracking metrics, there’s software tailored for any sales-based business. Communication, for example, can become clunky if emailing is the only non-face-to-face way for employees and customers to reach each other, and you won’t know what pleases your customers or spreads brand awareness if you don’t measure the success of engagement strategies.
But in order to use this software to its fullest extent, you must have a lightning-fast Internet connection, up-to-date computers, a secure network, and anything else that will make employees comfortable with technology like their own mouses or multi-screen monitors. These days, businesses are expected to operate so quickly that you cannot afford to wait for pages or apps to load or worse, fail to do so at all. So before you start ordering or downloading software, make sure you can afford all the equipment necessary for keeping it running smoothly.
Up-to-date equipment is vital for leveling the playing field with your competition and therefore must be obtained as soon as the need presents itself. Working with outdated or insufficient equipment for too long will have a blatant impact on productivity. Bank loans take months to process but United Capital Source provides small business loans such as (but not limited to) working capital loans, business lines of credit and merchant cash advances (aka credit card processing loans) that can be distributed just a few days after approval. We understand that, for small businesses, every day counts, which is why we allow our borrowers to make crucial purchases in a timely manner, even if you might not be in a position to immediately begin making monthly payments.
Making The Most Out Of Your Space
Unlike companies bases in offices or in a tech-related field, brick-and-mortar businesses regularly have customers in their workplaces. They need to make the most out of their spaces, which must be highly hospitable for both customers and employees. No one is going to want to spend time at a business that is unpleasant, boring, or severely lacking in terms of stimulating distractions. Comfortable furniture, television screens, arcade-style video games, and even something as simple as a ping-pong or fuse ball table are just some examples of workplace features that will make your location more memorable and engaging.
These additions should be viewed as somewhat similar to a marketing initiative because they will take time to produce results. But unlike long-term campaigns, they can quickly be implemented and should therefore only be unveiled when business is at its annual peak. The busy season, however, comes after the slow season, when sales are down and some businesses can barely afford to make payroll let alone pay off a loan. Fortunately, United Capital Source is willing to accommodate your financial cycle with small business loans featuring terms based on the unique circumstances of your industry. Depending on the program, borrowers can receive funding to order the equipment they need so that it arrives with just enough time to install it shortly before the busy season.
The Right Stuff For The Job
Businesses must constantly evolve to stay relevant, and new equipment is synonymous with new challenges. Whether it’s a landscaping company taking on its largest project to date, a restaurant changing its menu or a medical practice preparing for an influx of patients, new equipment is an essential element for the next step. But often times, the primary reason such businesses go through these changes is to improve stagnant, unstable or falling revenue. Medical practices, for example, must often wait months for reimbursement from insurance providers, similar to the way landscaping and construction companies must fund their projects but not get paid until they are complete.
For these situations, United Capital Source provides medical practice loans, accounts receivable loans, restaurant business loans, and myriad other programs that supply enough funding to cover all the equipment needed for the task at hand and/or the deficit in capital typically used for monthly expenses. The bulk of the debt doesn’t have to be paid off until delinquent payments arrive or the new project comes to an end.
You’ve Earned The Right To Get What You Need
Our borrowers have repeatedly proven to us that new equipment brings new levels of profit, demand and productivity. Your business doesn’t even have to be gradually increasing revenue to earn approval; you just have to show a steady stream of revenue that is clearly dependent on certain pieces of equipment. Should one of these resources need to be repaired or replaced, leave it to UCS to let you stay on your journey and reap the benefits of your larger competitors. We’ve worked with dozens of industries, so you know we won’t let you pay too much or wait too long to get what you want. Just prove to us that your team utilizes the desired items to their fullest extent, and you could see your loan approved in less than two days!