Start Here October '20

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76 S T A R T H E R E 2 0 2 0 Financing A new year or massive change (such as the one we're currently experi- encing with the pandemic) is a catalyst for growth, expansion, and new ventures. Some shops have just opened their brick- and-mortar businesses, while others are looking to expand into another decora- tion territory. With all the shifts we're currently going through, it may be time to invest and increase your shop's pro- duction with a new piece of decoration equipment. Making such a big purchase shouldn't go without planning and pre- paring the best way a business can, which is why folks at Ascentium Capital, CIT, and Geneva Capital are here to break- down financing versus leasing and give application advice. FINANCING VERSUS LEASING Before jumping in and committing to new equipment, it's essential to understand the basics. Depending on a shop's financial state, financing might make more sense than leasing and vice versa. Let's have a look at why that might be true. Ascentium Capital's finance man- ager, Michael Jung, says, in most cases, an equipment finance agreement (EFA) is free of any residual payments, which Financing versus leasing Alexandria Bruce is the editor for the GRAPHICS PRO Daily eNewsletter. She previously served as the digital content editor for Printwear magazine. Contact her at Grow Your Business with Assistance Alexandria Bruce

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