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Seattle Construction Monthly

Seattle Construction Monthly

THE BEST WAYS TO USE

THE BEST WAYS TO USE EQUIPMENT BY ARTICLECITY BLOG FINANCING FOR YOUR STARTUP STARTUPS NEED THE RIGHT RESOURC- ES TO THRIVE FROM DAY ONE. THAT MEANS HAVING THE LATEST EQUIP- MENT ON HAND FOR YOUR INDUSTRY. But what if you lack enough capital to finance the equipment you need to succeed from the start? Luckily, startup founders like you can take full advantage of equipment financing to start your company off strong, regardless of the industry. AS A NEW BUSINESS OWNER, YOU CAN TAKE ADVANTAGE OF LOW EQUIPMENT FINANCE RATES AND PAY OFF YOUR LOANS OVER A 5-YEAR SPAN AS YOU WORK TO GENERATE THOSE EARLY SALES. WHAT’S YOUR INDUSTRY? 10 CONSTRUCTIONMONTHLY.COM According to the latest data from the Equipment Leasing and Finance Association, professional lenders financed equipment for the following industries:

• The transportation industry received the most equipment financing, almost totaling 30% of all equipment financing business. • IT and computer related businesses represented 21.3% of all equipment financing. • Construction came in at 11.5% • Agricultural businesses received a little over 9% of all financing. • The medical industry came in at 4.7% • The industrial and manufacturing sector received 3.7% • Energy-related companies represented 2.5% of the equipment financing share. Now, for our next question to consider. What is the best way to use your equipment finance loan? LISTS MATTER We suggest creating a long laundry list of equipment you need to get your startup off the ground. It’s also important to get your finances in order to make sure you don’t fall into “negative equity” during those first few years of your business as you pay off your loans. SPECIAL SEATTLE SHOW EDITION 2018 11