Financing is an important part of starting and growing a business. However, there are a lot of misconceptions and confusion. Many people only have experience financing a house, car, or a new couch. Yet there is a whole world of financing business equipment and software.This episode discusses financing for business and answers the most frequently asked questions.Why do businesses finance equipment?Utilize banks money to startKeep current liquid money on handTax benefitsTime value of moneyCan a new business finance?Yes!You can use personal creditWhat if you don't have perfect credit - should you finance? What if the rate is high?Start now, or don't startRisk and rewardDo what you gotta doWhy not just use a credit card?Installment vs revolving creditSave your credit card for quick purchase / pay off like supplies or blanksDon't use personal revolving credit lines for businessIsn't interest bad?If you can make more money than the interest, you winTax benefitsBank loans cost money, that's the way it works. They are in business too.Better to do something than nothing to winWhat's the finance process like?ApplyReview credit and terms with agentAccept, sign, deliverWhat's financing vs leasing?What if someone has a lot of other questions?Isn't debt for suckers?Most businesses have debtYou buy a house with a loan for the long-term benefits (equity)Is a car loan for a new and reliable car better than paying cash for a car that will break down?Financing: assets vs liabilityA machine for business is different from a carThis isn't just adding to your bills but giving you opportunity.Tax benefitsYou own something of real value vs taking on debt for a vacation or new tvOverall, financing isn't complicated, but it feels scary. So is starting a business or buying a house. Those who take the risk are the ones who can be rewarded.Learn more at https://coldesi.com/financing-options/

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