Improve Cash Flow and Credit
Equipment leasing in Minneapolis means that you are freeing up cash. You may need extra money for any number of other important expenses:
- Hiring employees
- Stocking inventory
- Expanding facility space
Since a lease is not the same thing as a loan, your lines of credit are also freed up for other necessary purchases.
There is no sense in investing in machines, software, or other types of technology that will become obsolete once the latest version hits the market. You will quickly fall behind your competition and productivity will suffer. When leasing equipment, you can easily upgrade to the new model or switch brands if you are unhappy with the previous year.
It is usually easier to finance a lease than a purchase. With a capital loan, banks look for years of financial records, which are non-existent for new businesses. With leases, companies generally only want to see a year or two of credit history when considering an application.
Leasing equipment will make budgeting a much easier task. With a fixed, predictable payment, you can plan out your expenses over time. You will not have to deal with the risk of surprise costs, such as technology upgrades or extensions. This is a big deal, especially when you are on a tight budget and need to make sure your business sticks to it.
In this age of technology, where things are constantly evolving, it is important to stay ahead of the pack. You need to make sure that your business is operating with the latest and greatest equipment. The only way to remain open and flexible when new technology becomes available is to lease the equipment instead of purchasing it. Not only will you stay current, but you will also benefit logistically and financially. If you are interested in leasing office equipment for your business in Minneapolis, contact DTS today.