For 2024 and beyond, maintaining financial flexibility will be a key for sustained business success. In short, the world changes too fast to have your money and assets tied up in fine-print bank loan restrictions.
This means choosing fixed rate equipment financing without restrictions.This means choosing Crest Capital.
A Blanket Lien puts a lien on your entire business, and all of its assets. They are used my many lenders, and almost all banks. In other words, if you finance a machine, the blanket lien ties up every asset you own for the life of the loan. Meaning you can’t sell any asset without the bank’s permission, even if you’ve owned it for years. Note: Crest Capital does not use blanket liens.
Banks will insist you keep a Minimum Balance with them for the life of the loan. Usually this minimum is 80% of the loan. This ties up your money, and also calls into question just how much they are actually loaning you (if you must keep 80% in the bank and cannot use it, aren’t you really borrowing from yourself?) Note: Crest Capital does not require minimum balances.
Many lenders, and almost all banks, will insist you Requalify for the Loan Annually. And, if you have a down year and fall below their comfort zone, they have the right to call in the entire loan immediately (and because of their minimum balance clause, this is easy to enforce. It’s a terrifying thought.) Note: Crest Capital does not ask you to requalify annually. Once is enough for us.
Crest Capital has financed equipment for small and mid-sized businesses for 30+ years, and we’ve always done it WITH low fixed rates, and WITHOUT restrictions:
Without blanket liens. (what’s this?)
Without minimum bank balances. (what’s this?)
Without “requalifying” for the loan annually. (what’s this?)
Instead, we give you maximum cash flow flexibility. We lend you the funds for your equipment (and associated soft costs!), and you pay us back with fixed monthly payments without restrictions. It’s as simple as that.
Looking Forward – 2024 and Beyond
Business attitudes and norms have changed very quickly. We’re now in a 24/7/365 news cycle, and “industry” reacts very quickly to events large and small. Companies have learned three universal truths:
• Keeping your own cash liquid is VERY desirable.
• Not having liens and restrictions allows you to act quickly to events and changing norms.
• Since rates are so low, using financing to acquire needed equipment is smart. In other words, it’s become very cheap to borrowIF you can do it without restrictions.
Crest Capital has always been a lender with very business-friendly practices. We have low fixed rates, which really become attractive once you realize there are none of the typical restrictions a bank has.
Your Good Credit Reward
A big reason Crest Capital can offer businesses these types of attractive terms is we do not chase “bad credit” borrowers. We only lend to profitable companies in business 2+ years, and without previous bankruptcies.
We feel our way of doing business is a reward for the millions of small and mid-sized businesses who are responsible, hardworking, and growing. We want to help these companies grow further, so we make it easy to borrow, and we make doing business after borrowing easy as well.
One thing we like to say around the office is we help successful companies become more successful.
Ready for equipment financing that actually helps you grow? Click here to apply.
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