You see how the Equipter RB4000 fits into your vision to grow a profitable roof replacement business. Now it’s time to invest in an RB4000, and put it to work on your job sites. And, for some business owners, the first step is learning more about financing equipment for their roofing jobs.
Big banks approve about 27% of business loan applications, while regional and community banks greenlight about 50% of funding requests. The first step in getting your application approved is understanding more about the process that gets roofing equipment financed.
1. You have options when it comes to financing.
If you have an established relationship with your local bank or credit union, it can be a good place to start since they’re already familiar with your business. If you’d like more rate options or don’t have a preferred lender, contact us. We work with several lenders that regularly finance equipment for our roofing and contracting customers. Call 855-378-4783 for current rates.
2. Know your credit score.
Don’t assume you won’t qualify for RB4000 financing. Instead check your credit score, and then call us. We work with several lenders, each with different credit thresholds. When we know your credit score, we can better pair you with a potential lender that works with businesses in that score range.
3. Have your paperwork ready.
Along with the credit application, most lenders request additional information. Requirements vary by lender, but you may be asked to share financial documents such as recent bank statements. If you arrange financing through us, we’ll walk you through the info a specific lender might request.
4. Get the full picture on costs and payments.
Although we offer free pick-up at our Lancaster, PA facility, many customers take advantage of convenient shipping, which incurs an additional fee.
Your state may add costs to the purchase as well. For example, you might need to register the RB4000 as a trailer. Your state may also collect sales tax at the time of registration. State laws vary, so check with your DMV for details.
It’s also a good idea to ask if there are early pay-off penalties on the roofing equipment loan. Even if you’re not planning on an early pay-off now, circumstances could change and you may want to pay the RB4000 trailer off sooner rather than later, so it’s best to understand how that process works.
How to Finance Your RB4000
If you’re ready to get started, contact your preferred lender, or call us for current rates from the financing companies we partner with. When you work through us, we often get approval status within 1-2 business days after you submit the completed application form and any other requested materials.
What if now isn’t the right time for you to finance?
While buying a new RB4000 offers the most bang for your buck, including Section 179 tax benefits, a purchase might not be the best choice right now. Maybe your credit isn’t quite where it needs to be yet; or you want to keep credit lines open in case you need to tap them in the near future.
Renting is a convenient way to raise job site efficiency and get roofing jobs done faster. We have hundreds of rental stations across the U.S., and we regularly add new locations.