Landscaping Financing Options for Your Business: Business Loans and Financing Options for Landscaping
As a landscaping business owner, you have probably encountered industry regulations, new technologies, fleet upgrades and other reasons you need more funding. However, there are many options for existing businesses to secure additional funding. With your existing capital, you are a prime candidate for funding so you can continue to succeed and grow, especially as you seek out new customers in need of your landscaping services.
Landscape businesses have many reasons for loans
As a professional landscaper, you are subject to laws and regulations from the cities you work in and states your business is in. These laws are in place to keep you, your customers and the environment safe. However, when new laws are passed, you may need to buy new equipment or pay for additional trainings to stay in compliance.
In addition, you are subject to OSHA regulations to keep your employees safe on the job – so staying updated and understanding those laws can require special funding for new gear and equipment too.
Technology changes quickly, so keeping up with what your customers are asking for with new irrigation and landscape trends can be costly. Loans can help with education and any other needs to understand the new technologies available in the landscaping industry.
Upgrades to your business can also need some additional funding in the form of a loan. These upgrades can include your fleet, equipment or business operations including software.
What to ask when looking at landscaping loans
As you look for a landscaping loan to update or expand your business, there are a few important things you should find out. Here are some questions to ask yourself and your potential lenders:
- Loan terms
- What is the payment schedule?
- When will the first payment be due?
- How often are the payments (monthly, bi monthly, etc.)?
- Are there prepayment penalties?
- How long does the application take?
- What documentation do I need?
- What additional costs are there?
Options for landscaping loans
Bank loans are probably the first thing that comes to mind for many people when seeking a loan for their personal life or business. However, banks often have many requirements and can take longer to get the money to you, delaying your ability to use the funding on the items you need, whether that is training, equipment or anything else.
SBA loans are loans backed by the Small Business Administration, and a popular choice among small businesses. SBA loans aren’t granted by the government, but must comply with a set of guidelines for the lenders, reducing risk for lenders and helping you get access to more loan options than ever.
Alternative loan companies can be easier and quicker than banks and other SBA loans. These lenders have requirements, just like any other financing option, but are often more lenient, making the process smoother and faster. Preapproval may even be granted the same day, with the ability to access the money in just a day or so! Another benefit might be online applications, cutting out the trip to the bank for a face to face meeting, allowing you to apply for a loan and continue working your normal business day.
There are many options for existing landscape businesses to secure additional funding for updates and upgrades.
There are many choices for landscaping funding to grow your business. Choosing the right one that meets your needs, timelines and payment capabilities is important so your business can grow and stay in compliance with the ever evolving landscaping industry.
Get a landscaping loan from Fast Track Lenders
Applying for a loan from Fast Track Lenders LLC is easy! An online application, minimal documentation and quick approval can get you back to work with additional funding in no time. A dedicated advisor will answer all your questions, so you can understand the process from application through repayment. Apply today!
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