If you’re a business owner hoping to expand your range of products and services, then you might be looking into acquiring new equipment. Unfortunately, most industrial equipment can be expensive, which makes it hard to pay for them up-front and in-full from out of your pocket. So what options do you have?
Before you take out a loan, you might want to consider an equipment lease. This type of agreement lets you ‘rent’ a unit of equipment for an agreed term. They can be flexible, more affordable, and ideal for business owners in certain situations.
Is an equipment lease agreement better for your venture? Here are some specifics worth knowing.
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