Lexington, NC Business Loan Questions and Answers for Plants, Mechanics and Landscapers

Yes. A credit union can make business loans to its members, under its own membership and lending rules, so the first step is joining. For a plant or a shop replacing an air compressor, the credit union reads the same things any partner would: the quote, the statements and the business's debts.

A request through Boldpine Lenders goes to funding partners instead, and nothing stops an owner from comparing an offer from a credit union with one from a partner. Compare the rate, fees, term and total cost side by side.

A small business can apply at its own bank, at a credit union it belongs to, through the dealer selling the equipment, or through a service such as this one that passes a request to several funding partners. A mower dealer may offer its own financing on zero-turn mowers, and that offer is worth setting next to any other.

For a landscaper, the useful comparison is the full cost of each offer for the same mower and the same term. The how it works page sets out each step a request goes through here.

Yes, when it is a loan. The balance is owed by the grocer, and a lien on the coolers or cases stays with the partner until the final payment clears it. A lease is a contract to pay for the use of equipment, and how a lease shows on a grocer's books is a question for the store's accountant.

For a grocer, walk-in coolers and new cases are equipment, and new shelving, checkout counters and other fixtures can be financed the same way. A remodel or walls, slab and shell work count as property work, which this site does not arrange.

Sometimes. When the money is lent against the fryer itself, with the fryer pledged until the last payment, that is a loan. An equipment lease is not: the lessor owns the fryer and the restaurant pays to use it, with a buyout at the end if the lease offers one.

The equipment financing page walks through a two-fryer purchase on a loan, with the payment, the interest and the first month's split worked out.

A merchant cash advance can be good when a restaurant's card sales are steady, the need is short, and the fixed cost of the advance is clearly smaller than what the money earns. An advance is not a loan, since the provider is buying a slice of the card sales still to come and takes it back through a daily holdback.

It is a poor fit for a long-lived purchase, or when a line of credit is open and costs less. The merchant cash advance page works through the holdback math, and the line of credit page covers the alternative for parts and repairs.