Financing programs commonly used for people who are interested in purchasing multiple vending machines. Some of those folks are vendors who are already in the business looking to expand; or they are individuals looking to run a small route in their area to supplement existing income. Vending is such a easy business to get into that many people look for this opportunity.
First, you will need some funds for down payment. Whether you are financing 5 or 50 vending machines, you will need to allocate some funds for down payment. Most financing companies will require a down payment for your loan. It is very standard practice and the amount depends on the number of machines you are financing and also your personal credit score. Most financing companies will not finance a loan of less than 5 vending machines.
Second, you will need to figure out how much capital is necessary. You will have to calculate the type of machines you are looking to purchase. Don’t forget to calculate costs for sales tax, shipping and freight charges, and product supply purchase. Take a look at some of the varieties here and decide what types will work best for you. You can finance both new and used vending machines.
Last, take a look at your credit score. Order your credit reports and make sure you do not have active delinquencies on there. No finance company will approve someone with open delinquencies! Take care of your credit!
You can contact Piranha Vending and we will help you go through the entire process! You can also go here and apply for financing online. We will contact you and discuss your individual needs and help you get the funding that you need!