Whether you own a successful cosmopolitan restaurant downtown or a mom and pop cafe, it is essential that you have the supplies and equipment you require to be successful. Whereas equipment is vital, the capital to buy that equipment is not always available. Updating your restaurant equipment regularly with help from lenders can help you increase productivity and put money back in your pocket. In this post, we will help you understand the financing and leasing process of Kolpak QS7-0812-FT Top Mount Walk-In Freezer so that you can enjoy the benefits of new equipment without the risky investment.
Benefits of Kolpak QS7-0812-FT financing
There are many benefits to financing or leasing the Kolpak QS7-0812-FT instead of buying the equipment. Generally, refrigeration equipment financing offers new and well-running equipment. Think of it this way, you can obtain a new state-of-the-art refrigerator by making a cash purchase, and you have to deal with all the maintenance. Nonetheless, if you do refrigeration financing and leasing, you can lease the Kolpak QS7-0812-FT for the term of the lease and then purchase it at the end of the lease. This is what so many smart restaurant owners are doing—refrigeration leasing rather than buying.
With equipment financing, the loan is used for the sole purpose of obtaining Kolpak QS7-0812-FT Walk-In Freezer. The loan is set to meet the equipment’s useful life. Your restaurant will take ownership of Kolpak QS7-0812-FT from day one and will make a series of loan repayments over the specified duration of the loan. When it comes to lease, there is an agreement between the lessor and the lessee. The lessee makes periodic payments to the lessor, and as a result, the lessee has the right to use the equipment. Typically, the lessee does not own the Kolpak QS7-0812-FT Walk-In Freezer during the lease period. Will discuss leasing Kolpak QS7-0812-FT Walk-In Freezer later. Why should you use restaurant equipment financing to fund the freezer, instead of any other kind of business financing or by coming up with the money on your own? Below are seven benefits.
You do not have the cash on hand for an upgrade.
A common reason for buying the Kolpak QS7-0812-FT Walk-In Freezer is, of course, to upgrade an old refrigerator. However, if you were not anticipating to shell out thousands of dollars this week for a new and critical commercial refrigerator, you might not have the cash on hand necessary for this purchase. If you absolutely require a new piece of the refrigerator and you are not liquid enough to purchase it yourself, Kolpak QS7-0812-FT Walk-In Freezer financing is a perfect solution.
You are trying to keep cash flow consistent.
Cash flow mismanagement is one of the main reasons why small restaurants fail. Even successful restaurants can fall into this trap if they put up too much money before they can recoup their investments. To avoid failure by cash flow issues, make sure that your regular expenses are as predictable and consistent as possible. One method of doing this is financing your Walk-In Freezer and paying it off over many months in regular installments, instead of all at once. Since if you opt for the latter option and another unpredicted expense hits, you could be in trouble.
You do not have (or want to put up) extra collateral.
Typically restaurant equipment financing is a self-secure loan. That indicates the equipment you are financing, in this case, the Kolpak Freezer as its own collateral. If you happen to default on your loan payments for some reason, the lender can seize the refrigerator and sell it for cash to repay your loan. Thus, if you are seeking financing for your restaurant refrigerator but not inclined to put up extra collateral and risk losing other assets, equipment financing is the solution.
You want to own Kolpak QS7-0812-FT Walk-In Freezer outright.
In many ways, restaurant equipment financing and restaurant equipment leasing are the same. With either option, you will avoid large one-time investments and rather spread your spending over many months. In fact, if you want the freezer temporary, leasing equipment is the best option. However, if you want to own the refrigerator outright after making payments on it, you will want to take the path to ownership and finance your purchase.
You do not need an outstanding credit score quality.
For most business financing options, you will require excellent business and personal credit scores to qualify for the most affordable products. Since restaurant equipment financing loans are self-secure, qualifications for Kolpak QS7-0812-FT Walk-In Freezer financing is not quite as high. Of course, the better your financials, the better deal you will get concerning your repayment terms and interest rate- but do not worry if your credit history is less than stellar.
You will not pay additional for what you don’t need.
As discussed earlier, an equipment financing loan is for a specific amount you would need to buy your equipment. On the other hand, a business loan might be for more money than you need, and short-term loans usually have higher interest rates than most other financing products. You might be wondering why choose the Kolpak QS7-0812-FT Walk-In Freezer refrigerator? Food preparation is not just about cleaning and cooking. Serving food is often regarded as an art form, and regular refrigeration is an essential part of preserving your creations. Luckily, Kolpak QS7-0812-FT Walk-In Freezer comes with features such as polar-pak, top-mounted refrigeration, door heater, high-pressure safety control, air cleanser condensing units, among others, which makes it perfect for storing vegetables and frozen meats. It also comes with a one year warranty for parts and labor as well as a ten-year panel.
You want to concentrate on other investments.
Running a restaurant needs balancing many different things at once. You have to ensure the equipment is running optimally and that the front of the house is running smoothly; you turn over tables, encouraging old customers to stick around while bringing in new ones, among hundreds of other tasks. All of these responsibilities require spending- on operations, hiring, and marketing- and you might want to focus your liquid cash on these areas. Thus, if you need a Kolpak QS7-0812-FT Walk-In Freezer, you can finance it instead of adding it to the list of things that you need to tie up your liquidity in.
Kolpak QS7-0812-FT Walk-In Freezer leasing
Your restaurant is unique. You will need to carefully design a customized plan that will meet the particular needs of your company. You will have a choice at the end of the lease. You might be very satisfied with Kolpak QS7-0812-FT Walk-In Freezer and want to purchase it. The buyout cost might be as low as $1. Or you might decide to explore the innovations in commercial refrigeration equipment and choose to replace your existing system with an entirely new refrigeration system. This is the reason Kolpak QS7-0812-FT Walk-In Freezer leasing is sensible for your business. When you lease your refrigerator, there are costly repair bills. Your freezer will always be new or in excellent running order. As such, it will rarely, if ever, have mechanical issues.
Commercial refrigeration financing: Bottom line
Are you having a rotten smell in your kitchen from deteriorating food since your commercial refrigeration is not doing its job? Can you imagine the effect on your clients? If you have inadequate refrigeration equipment, the cost lies in losing customers, not to mention inventory, can be huge. Ensure your refrigerator is doing its job, visit us at Top Financial Resources and put your concerns to rest. We finance all equipment ranging from under-counter refrigeration, specialty refrigeration, reach-in refrigeration, merchandisers, ice machines, food prep refrigeration, display refrigeration, and bar refrigerators. Top Financial Resources will finance the equipment you need.
Since we know that all restaurants are different and have different needs, our refrigerator loans are customized to fit your specifications. We will discuss Kolpak QS7-0812-FT Walk-In Freezer with you and help you come up with creative solutions to make sure your restaurant can function at full capacity.