Financing Options to Get the Pressure Washing Equipment You Need

Financing Your Pressure Washer Equipment

If you own or manage a pressure washing business, having the right equipment is crucial for providing quality services to customers. However, pressure washers and accessories can be expensive investments upfront. This is why more businesses are choosing financing as a budget-friendly way to get the pressure washing equipment they need.

Types of Financing for Pressure Washers

There are several financing options available when you need to purchase or lease pressure washing systems and accessories:

• Equipment Loans - Banks and online lenders offer equipment loans with extended repayment terms so you can purchase equipment.
• Equipment Financing - Financing companies purchase equipment and then lease it long-term to your business for affordable monthly payments.
• Business Lines of Credit - Revolving credit lines give you flexibility to purchase equipment and make payments over time as your cash flow allows.

Reasons to Finance Your Pressure Washer

Here are some of the top benefits for pressure washing business owners who choose financing:

• Preserve Capital - Financing equipment means you don’t tap cash reserves or deplete working capital for purchases.
• Tax Benefits - Lease payments may qualify as tax deductible business expenses.
• Build Credit - Making timely financing payments can help establish or grow your business credit score.

What Equipment Can You Finance?

Virtually any type of pressure washing equipment, parts, or accessories can be financed, like:

• Pressure washers
• Hoses, guns, wands
• Chemical applicators
• Water tanks
• Generators or welders
• Trailers
• Surface cleaners
• Heaters or boilers
• Drain jetting machines
• Specialty tools

Getting Financed for Your New Equipment

If you’ve made the decision to finance pressure washing systems and accessories you need for your growing business, here is a step-by-step guide to get started:

1. Check Personal and Business Credit

Your credit scores will impact loan and financing approval chances and your interest rates. So review your personal and business credit reports and scores before applying.

2. Shop Equipment Packages

Research different pressure washing equipment manufacturers and distributors. Compile a list of all the items you need to purchase. Package costs together so you only need one financing loan or lease.

3. Compare Financing Offers

Connect with financing companies to share the total loan amount you need and the equipment list cost breakdown. Compare term lengths, monthly payments, and interest rates across lenders.

4. Submit Financing Application

Choose the best financing option for your budget and business goals. Complete the application providing all requested financial statements and documents to support the approval process.

5. Sign Contract & Take Delivery

Grow Your Pressure Washing Business

While acquiring new pressure washing systems and tools has upfront costs, the right equipment will let your business take on more complex and profitable jobs. Financing equipment over 12 months, 24 months or longer spreads payments over time so you can benefit from using the equipment while slowly growing into the purchase price.

Ready to talk about financing options for the new pressure washing equipment you need? Reach out to discuss total costs and monthly payment plans that will work for your expanding pressure washing business!

FAQs

How do I qualify for pressure washer financing?

You need decent business or personal credit scores, and steady business revenue or income. Provide your previous tax returns and financial statements along with your financing application.

What types of equipment can I finance for my pressure washing business?

Virtually any equipment related to your pressure washing operations can be financed including washers, hoses, surface cleaners, transportation, generators etc.

Can I deduct the financing payments on my business taxes?

Most lease or loan payments for legitimate business equipment can be considered tax deductible. You should consult a tax accountant to understand deductions available.

Can financing affect my business credit score?

Yes, finance companies report to business credit bureaus. So making on-time payments can help build your score to qualify for more attractive offers.

What financial information do lenders require for pressure washer financing?

Expect to submit personal and business tax returns, bank statements, profit and loss statements, accounts receivable/payable reports, credit scores and your business plan.