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The Best Financing Available Today

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Paul BosleyPaul Bosley

Introduction

Are you considering expanding your business or opening your first location? If so, often the biggest fears are, "How do I pay for this?" or "Can I afford to purchase equipment and rent a space?" This article describes two complementary financing products that can be used by a business owner to provide the financing needed to finance your business so read on...

Equipment Leases
Capital Leases to Own

Fitness center owners can finance the purchase of their strength and cardio equipment, security systems, computer hardware and software, flooring, outdoor signage and other tangible items needed to run your business with an equipment lease. The equipment being financed is the collateral for the lease. All equipment leases require a personal guarentee from all owners who own more than 10% stock in the company.

Lease documentation fees range from $95 to $495. Down payments range from 1 - 20% of the amount financed so an equipment lease preserves your operating capital. The repayment term ranges from 12 months up to 60 months. All lease payments are a tax-deductible business expense, so the payments will lower your taxable income and tax liability. Since most owners plan to keep the equipment long term, they choose a capital lease, which offers a $1.00 or $101.00 buyout at the end of the lease term. A capital lease is used to finance the purchase of all of the equipment needed to open or to expand a fitness center.

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