Forklift Finance: Essential Facts You Must Know About It
As the name implies, forklift finance is the kind of business finance that one uses to buy heavy industrial equipment like a forklift for daily operational execution. Companies that need heavy lifting in their day-to-day work, like warehouses, dockyards, construction, recycling plants, etc., can benefit from forklift finance. Buying or leasing heavy industrial equipment requires significant capital, which can be difficult for a small business. That’s where forklift business financing comes to the aid of the business owner. Defining Features of Forklift Finance Forklift finance has the following salient attributes. There is no need for a down payment. You can borrow up to 100% It is applicable for both used and new forklifts. You do not necessarily require to provide a collateral as the underlying asset works as a security for the lender. Since it is tax deductible, you can earn significant tax benefits. Whether you are a sole trader or own an enterprise, you can benefit from forklift finance.