The Material Handling Industry is estimated to grow over a whopping 319 billion dollars by the year 2029. However, owning a Material Handling Business certainly doesn’t go without challenges.
Being able to afford the most up to date equipment for an efficient and safe work environment can be financially challenging.
Having to weigh the decision to pay the cost of newer equipment verses
Taking the risk of more employees getting injured resulting in expensive workman comp claims can be very overwhelming and put a real damper on your end of year revenue earnings.
Oh,,, and let’s not forget the never ending balancing act of the right amount of inventory to have without running out of stock.
Now that’s an Excedrin moment waiting to happen.
Here’s why financing is a good option for your business:
Financing makes expensive equipment much more affordable by giving you a monthly payment verses having to pay for it out of your operating cash.
Another plus, lienholders really like the Material Handling Industry, which means the guys in suits associate a lower risk score with it,,,, This means you get much better credit approval terms and contracts!
Having additional write offs at the end of the year is always a plus.
On going, inventory issues can put you in a cash crunch. This is why having a unsecured line of credit in place can really come to your rescue. It’s a great tool to have in your back pocket.