Despite what news reports would have you believe, the outlook isn’t all gloom and doom. Armed with funds from new federal loan programs, companies bought or refinanced equipment and consolidated debt to serve expanding markets and/or new business generated by reconfiguring supply lines.
Every transaction is different, each borrower is unique, and financing companies differ in how they review credit requests. Regardless of the size of the transaction, the quicker you provide the requested documentation and information to the credit team, the quicker they can review and hopefully extend the credit needed for that equipment purchase.