Why do an Real Estate Leaseback versus Equipment? If your goal is to get $100,000 or higher, a Real Estate Leaseback may be better. If your company needs less than $100,000, an equipment leaseback has several advantages over a real estate leaseback.
An equipment leaseback can often times be completed with just a one page application. An equipment leaseback does not often require a formal asset appraisal by an independent company. The transaction is faster. It typically only requires 1 or 2 weeks completion time. Closing is easier and less documentation is required.
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Since less paperwork and financials are required, less information is analyzed that could cause a decline. The more documentation that is required, the more likely something will trigger a decline.
The above factors should be considered when deciding which financing to apply for.
Small Business Loan Resources:
Realtor.org – National Real Estate Organization Trade organization for real estate agents. Includes overview, code of ethics, activities, and membership information.
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