Questions about Equipment Loans For New Start Up
by Icreator440, Window Shopper
- Created: March 16, 2013, 9:47 am
- Updated: November 14, 2013, 8:07 pm
Questions about Equipment Loans For New Start Up Me & My partner are looking to start a plastic manufacturing Company. We would be using 3d printers to start the company. We both have Good Credit (about 720 ) Im 21 & my partner is 24. We have $20k - 30 k for the equipment - Total Cost is $50K. We have the software, Business Location, now we need the Equipment My main questions are 1. Where to start ?? How should we go about find a loan for the equipment?? Banks? 2. What are the requirement for a bank Equipment loan ?? We have found many sites that give a Idea of what they need but nothing shows details set in stone by major banks. 3. We also want to make sure we can even get a loan, being so young and trying to start a startup Company. 4. We haven't started the Company yet - No reason to until we get the required equipment to start. Would a bank need a Business Name Registered before give a loan ?? 5. Lastly, We even looked at leasing the equipment. We told the Company what we where trying to do. They ran a hard check on our credit & then tell us they wont lease to buyers who business is younger then 2 years old. So waste of a credit check, Anyone know of Companies that will lease equipment to Startup Businesses like ours ?? We both work full time, so we could for sure make a monthly payment if the business idea didnt work out as planned.
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