Equipment Leasing and Finance Association Services

ELFA, also known as the Equipment Leasing and Finance Association, is an organization that, among other things, represents financing companies and manufacturers in the equipment finance business.

The organization is especially responsible for the advocation of commercial leasing. It has members from small businesses to Fortune 100 companies. Companies from the non-profit sector are also members.

A large amount of information can be found on the ELFA web site. One of the most interesting, as well as useful, things on the are the helpful articles they provide. These articles provide the consumer with information regarding many important business issues. One can find information about the basics and benefits of equipment leasing pros and cons regarding leasing vs. loans and specific leasing and financing options that are offered to consumers.

There is also a link on the ELFA web site for events and training. There are various events members of the leasing community can attend, as well as appropriate trainings. Additional links on the web site offer press releases..

This web site also houses statistical and analytical information on equipment finance. The Equipment Leasing and Finance Association is renowned for being the premier source for statistics and analyses regarding equipment leasing and finance.

According to ELFA, approximately 1 trillion dollars worth of equipment is purchased annually, by companies in the medical, aviation and computer industries. Approximately fifty-five percent is financed via leases or loans. Therefore, it is important to note that it serves as an liaison between the equipment finance community and the federal government. This is to ensure sound business principles in regards to equipment leasing and financing.

To become an member of the Equipment Leasing and Finance Association, you can create an account on the association’s web site. The benefits of becoming a member are extensive. You can benefit from obtaining information about research in the industry. There are also many email forums to facilitate discussions that are related to the leasing industry in general. When you register to become a member of ELFA, you can participate in tax, legal, accounting and general discussion groups.

If you are involved in the equipment leasing and /or finance industry, or want to lease business equipment, you may want to check out the Equipment Leasing and Finance Association web site.

Small Business Loans – Merchant Loans And Alternatives

Perhaps one of the most common ways to start your own business is to become a merchant. However, being one is no walk in the park. There are several things that you need to pay attention to, especially the liquidity of your business. In many cases, being short of capital or not having ready access to additional capital is what keeps merchants from succeeding. Having ready access to additional capital can either mean you are extremely rich or you simply know the different ways for you to have the needed funding for your small business. It is quite obvious that you are better off with the latter because no matter how much money you have today, there will come a point that you might resort to different kinds of merchant loans.

There are at least two kinds of financing options that you can take to fund your small business. Merchant loans or small business loans are perhaps the most popular and can generally allow you to borrow a large sum of money. In this way, you can start your own business or buy out one. The money you have borrowed can also be used to refinance your other business debts or it can be used to acquire other types of capital, like inventory or equipment or commercial real estate.

Other than small business loans, you can also opt to get a business cash advance. This is similar to merchant loans but generally does not require upfront fees. It also has a simpler application process than a traditional business loan and typically does not send reports to credit agencies.

The good thing about a business cash advance is it does not have fixed collection time and repayment schedules are more lenient. The funds you will be borrowing are unsecured money so there is no need to worry about collateral. Nor does it require applicants to have good business credit scores.

While it is quite true that SBA loans can generally satisfy your funding needs, it is not always easy to acquire additional capital through this method. This is why alternatives exist and it is quite a big help to turn your attention to these other options. While unsecured alternatives usually cover for the higher risk through charging higher interest rates, they are still worth resorting to because they can very well save your business from potential demise. Learn more about merchant loans and other funding alternatives today!

How A Farm Loan And A Rural Loan Differ

These types of loans have differences between them that are crucial to understand, yet so many people looking for loans start out on the wrong path because they don’t understand that these two types of loan aren’t the same.

A rural loan is made to those who want to purchase property in the rural United States. Rural areas are places in the US that are far away from highly populated towns and cities and the government wants to encourage growth in more rural areas. These loans are typically offered through a government agency like the USDA.

If you decide to go with the USDA for your rural loan, however, be advised that they have strict regulations on what areas qualify as a rural home loans area. The agency has broken down the United States into qualified rural areas where these loans can be used generally the area has to have a population of less than 25,000 and the agency keeps track of this areas population. This is to ensure areas have proper status. You should check at local rural development offices for lists of lenders that offer USDA rural loans.

A Farm Loan is very different type of loan that is designed only for farms and farm equipment. You would get a farm loan most likely through a private lender. Some examples of farm loans are operating loans. Operating loans cover things like crop needs, labor and family living expenses, livestock purchases or other farm-related needs.

There are also equipment loans that cover things such as Grain Bins and facilities, farm and home improvements, farm trucks and vehicles, new buildings of all types, farm improvements (like tiling), livestock facilities and breeding livestock. Farm Loans also cover real estate purchases and do not have the same sorts of restrictions as a rural loan has such as population and location restrictions.

A lender can talk with you further about your specific requirements for a loan, or you can look online for information defining specifics for your situation. You should look online first and play around with a mortgage calculator to get a general idea about what payments will be like for someone with your credit profile and cash for down payment. Also, look around at different interest rates there are many ways to pay back farm loans and rural loans terms and conditions vary greatly on length of time to pay back a loan and the interest a bank will charge you to borrow the money.