Financing Used T-Shirt Printing Equipment
Used equipment financing tips for Embroidery, DTG, UV, Screen-Printing Equipment and more.
From financing perspective, there’s little difference between getting a loan for a $2,500 used home embroidery machine and a $25,000 used automatic screen-printing system.
Getting to a YES on financing any used equipment is going to be a combination of yours or your business credit, the type, quality and age of the equipment you’re trying to purchase.
Factors in Financing Used Equipment
Most banks and finance companies look at those 3 things listed above first, but here is the full list of considerations:
Which banks will give you the best terms?
Your local bank or an industry “bank”.
If you have a relationship with a local bank then they might be either more willing to lend you money for a new business project or piece of equipment than an online financier.
Or if there’s a company that specialized in financing the kind of equipment your looking at, or has a particular knowledge of that kind of business, they might be more likely to finance you than a bank with no idea about custom t-shirt printing or embroidery.
AdiaCapital, for example, has been financing commercial embroidery machines, direct to garment printers, rhinestone machines, uv printers and other personalization products for decades. So we actually do know the industry and have a better idea of what you SHOULD finance.
Companies like Adia will have a better, up-to-date grasp of the equipment you are considering. Many times, they will also offer better terms than others who don’t understand the type of equipment you are looking to secure.
But a local bank might make you a better deal if you’re a long-term customer too.
Does the SELLER matter?
There’s a reason why we saved this bullet point for last.
*Worthiness of seller is not always a factor in financing, but it can be.
Lenders protect themselves and their customers sometimes from poor sellers or even scammers. Some lenders require you to purchase from reputable vendors and will not consider a transaction that is being sold by an individual.
Others will vet the seller but will still lend in a situation where the seller is the current owner. Some lenders will require a “site inspection” to protect themselves from potential fraud.
So you may find one piece of equipment on the QuipDealio.com website offered by a home business user and the same type offered by one of the big distributors that advertise on the website – and which one you can finance will depend on how YOUR bank looks at each one.
AdiaCapital Used Equipment Financing
Here at Adia Capital we have worked in many different industries.
However, we do specialize in the Decorated Apparel and Graphics Industry. In fact, we have a combined 88 years working in this industry!
Regardless of what your financing needs are, Adia Capital is here to assist you. We can work with all sorts of credits and even start-up businesses. If you need to finance used or new equipment let one of our professionals help you today. Call Adia Capital at 866-757-0244.