09 23 2014

09 23 2014

Equipment Leasing Can Be Part of Disaster Preparedness

A new small business study shined a light on disaster preparedness, something business equipment leasing can easily be a part of.

According to the latest Small Business Index from Office Depot, Inc., only half of small- to medium-sized businesses (SMBs) believe they are prepared to handle a natural disaster, such as a hurricane, tornado, flood, forest fire, landslide or earthquake. However, approximately 70 percent of these businesses do not actually have a disaster plan in place.

“As we enter the busiest period of hurricane season, now is the time for small businesses across the country to ensure they have an emergency response plan in place or review existing preparedness measures,” Gerald McSwiggan, disaster manager for the business civic leadership center of the U.S. Chamber of Commerce, said in a recent press release. “From battery backup for your desktops and printers to data storage drives, proactive response materials make sure SMBs are properly equipped and ready to weather any storm. We want to make disaster preparedness simple and accessible for all business owners.”

However, for many small businesses, weather is the least of their concerns. Disasters can come in many forms, and all too often, they take the shape of financial trouble. This is something business owners are very aware of. In fact, 38 percent of small business owners ranked “uncertainty over economic conditions” as the second most severe problem facing businesses, according to the latest National Federation of Independent Business Small Business Problems & Priorities report.

“The most recent recession proved to be anything but typical and its recovery is following a similar fate,” the report stated.

In short, plenty of small business owners know that creating a disaster preparedness plan goes beyond preparations for Mother Nature.

Making equipment leasing part of the plan

For a business to withstand financial calamity, it’s important for it to have cash reserves on hand that can be used to keep operations running smoothly even in the face of sudden changes. Commercial equipment leasing allows businesses to save on the purchase of vital equipment, thereby keeping cash reserves higher.

Additionally, while small business owners should make proper insurance coverage a part of their financial safety net, this isn’t always the case. If natural disaster does strike, there’s a chance equipment will be damaged or destroyed, leaving businesses unable to operate. In these instances too, equipment leasing can be the ideal solution to keep businesses running without depleting cash reserves.

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Any applications submitted electronically shall have the same force and effect as if the application bore an inked original signature(s). The above information, together with any accompanying financial statements, schedules, or other materials, is submitted for the purpose of obtaining credit and is warranted to be true, correct, and complete.

 

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The Merchant and Owner(s)/Officer(s) identified in the application (individually, an “Applicant”) each represents, acknowledges and agrees that (1) all information and documents provided to National Funding, Inc. (“NF”) including credit card processor statements are true, accurate and complete, (2) Applicant will immediately notify NF of any change in such information or financial condition, (3) Applicant authorizes NF to disclose all information and documents that NF may obtain including credit reports to other persons or entities (collectively, “Assignees”) that may be involved with or acquire commercial loans having daily repayment features and/or Merchant Cash Advance transactions, including without limitation the application therefor (collectively, “Transactions”) and each Assignee is authorized to use such information and documents, and share such information and documents with other Assignees, in connection with potential Transactions, (4) each Assignee will rely upon the accuracy and completeness of such information and documents, (5) NF, Assignees, and each of their representatives, successors, assigns and designees (collectively, “Recipients”) are authorized to request and receive any investigative reports, credit reports, statements from creditors or financial institutions, verification of information, or any other information that a Recipient deems necessary, (6) Applicant waives and releases any claims against Recipients and any information-providers arising from any act or omission relating to the requesting, receiving or release of information, and (7) each Owner/Officer represents that he or she is authorized to sign this form on behalf of Merchant.(8) I consent to receive direct mail, faxes, and e-mails sent by National Funding and its affiliates for the purposes of transmitting account updates, requests for information and notices, and (9) this request is for business and not for consumer purposes.

 

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I hereby certify: (1) the information provided is true and correct, (2) you are hereby authorized to investigate all bank, credit, and trade references, and said references are hereby authorized to release any requested information to you or your nominee, (3) such authorization shall extend to obtaining personal credit profile in considering this application and subsequently for the purposes of update, renewal or extension of such credit or additional credit and for reviewing or collecting the resulting account, (4) this information may be transmitted by us to you and by you to underwriter(s) for the purpose of granting me credit, either electronically or manually, and that by submitting this application, I take full responsibility for transmission thereof, (5) I am over 18 years of age, (6) I acknowledge my rights under the Fair Credit Reporting Act, (7) I consent to receive direct mail, faxes, and e-mails sent by National Funding and its affiliates for the purposes of transmitting account updates, requests for information and notices, and (8) this request is for business and not for consumer purposes.

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