Every gym business needs high-quality equipment to get its job done and in the right way. But seldom do gym owners have money set aside to pay for the equipment up front. They may be willing to do so but know that doing so may put a substantial dent in their cash flow. This is where equipment financing comes in.
Equipment financing is a quick and economical way of obtaining financing to replace or upgrade much-needed equipment to keep your gym business running or expand to meet rising demand.
This article provides an overview of equipment financing—how it works, rates, fees, terms, qualification requirements, and where to obtain such a loan.
What Is Equipment Financing?
Equipment financing refers to a loan or lease that a gym business uses to purchase business-r…