Business loan to buy an equipment
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elsworth
Apprentice
Joined: 26 Aug 2006
Posts: 9
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 Posted: 03/09/08 - 11:31 Post subject: |
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| We need new equipment for our firm. We are a small bakery and we need new ovens so I was thinking about business loan to buy them. I don’t know if it is a wise move. Don’t even know whether to lease or buy. Anyone has any suggestion and some helpful information? I would really appreciate it. |
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titos
Apprentice
Joined: 15 Nov 2006
Posts: 4
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| Posted: 04/07/08 - 21:58 Post subject: |
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| Taking a loan for equipment needs to be well planned. You have to reconsider the purchase price and down payment and, of course, sales tax rate and compare. If you are not able to receive any repayable contribution maybe you should take a loan but I must assure you that leasing is simpler. Of course, if required equipment is a subject of a lease if not banks offer you slightly lower interest rates for loans. But ‘rate’ is not the only factor you should look at before a decision how to finance equipment. |
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