Short answers on credit unions, where to apply, equipment financing and merchant cash advances, each with a link to the page that explains it in full.
Can You Get a Business Loan from a Credit Union? Notes for Clinic Owners
Yes. Credit unions can make business loans to their members, and a clinic owner who already banks with one can ask it directly. Membership rules decide who can apply, and each credit union sets its own terms.
Asking a credit union and calling here are not either-or. A practice can hold a written offer from each and compare the rate, the term, the fees and the total cost side by side.
Where to Apply for a Small Business Loan? Start With Supplier Terms
Where to apply depends on the need. The bank or credit union that holds the business account is one place; online providers are another; a request here goes to funding partners who review it. Before any of them, look at supplier terms: a supplier that extends net-30 to net-60 is already financing part of the shelf.
The six funding options page lays out working capital, term loans, credit lines, inventory financing, equipment financing and the merchant cash advance by what each one pays for.
Is Equipment Financing Debt? Compact Loaders, Equipment Repairs and the Answer for Contractors
Yes, equipment financing is debt. An equipment loan is borrowed money with a payment schedule, secured by the machine. For a contractor buying a compact loader or paying for a major repair, the payment sits alongside any other loans the business carries, and a partner sees it that way.
A lease is a payment obligation too, though the leasing company owns the machine during the term. The equipment financing page compares the two with worked figures.
Is Equipment Financing a Loan? Start With Insurance Claim Lags
Two shapes exist under the equipment financing name, a loan and a lease. With an equipment loan the business owns the device and the financing company holds a lien; with a lease the business pays to use it and may buy it at the end. A clinic waiting on insurer payments can weigh a lower monthly lease figure against a lower total on a loan.
The worked clinic example on the equipment financing page shows both totals, including the lease buyout.
Is Merchant Cash Advance Good? Notes for Retailers
A merchant cash advance can be good for a retailer with steady card sales and a short-lived need, and costly for one with thin margins or few card sales. It is not a loan: the provider buys a share of future card sales and collects it each business day. The cost is set by a factor and does not fall if collection takes longer.
The merchant cash advance page works through an advance at three levels of daily card sales.
By Cliffway Funding Group · Updated