Financing for a Fiber Laser
Consider reaching out to your local bank to help in purchasing, but always proceed with caution.
One avenue to fund a new purchase is to research the Small Business Administration and the options they have for loans and lenders that work with them.
Another option that can be used is your current bank. Sometimes banks can be a little harder to work with, especially if you have a new company and are just starting out. One drawback comes in the form of a UCC lien against your equipment. Basically, a UCC (Uniform Commercial Code) lien is a notice that a lender has a security interest in your assets. The assets used for the UCC lien are used as collateral for a loan, and guarantee the lender has first rights to the funds from those assets. What gets a little unnerving is that some banks will not only put a lien against your purchase (specific collateral lien), but also your other equipment and any new equipment you purchase in the future (blanket lien). If you choose to go this route, be sure to ask about the type of lien (specific versus blanket) and all UCC filing before agreeing to terms.
Another option is leasing your equipment.
-Braden Todd, Glassmith2
