Entrepreneur Plus - Short White
For Subscribers

Building Blocks Leasing may be the solution to grow your business quickly.

By Rosalind Resnick

Opinions expressed by Entrepreneur contributors are their own.

Question: My partners and I started a construction company five years ago, and it's really starting to take off. How can we buy the trucks, backhoes and other equipment we need without tying up all our working capital?

Answer: For capital-intensive businesses that need to expand rapidly while conserving cash, equipment leasing can be a great way to go. In a typical operating lease, the bank or leasing company owns the equipment, and the company that leases the equipment makes payments over a period of time--no different from the lease you probably have on your company car. But if you're looking to lease multiple pieces of equipment, you may want to ask your bank about a special type of credit line that lets you finance, say, $500,000 to $1 million worth of equipment. While each piece of leased equipment will need to be approved separately, having a credit line like this in place can streamline the process of obtaining lease approvals and get your trucks on the road that much faster.

This is a subscriber-only article. Join Entrepreneur+ today for access

Editor's Pick

Related Topics

Business News

'Please Fix This': Elon Musk Frantically Emails Employees During Livestream Glitch

Musk attempted to livestream his visit to the U.S.-Mexico border.

Business News

Costco Isn't Facing Devastating Surges in Theft Like Target and Walmart — and the Reason Is Very Simple

The retailer's CFO revealed its strategy during a fourth-quarter-earnings call.

Business News

These NYC Roommates Created a Fake Restaurant and Accidentally Garnered a 2,000-Person Waitlist — So They Opened a Pop-up for Real.

The Gen Z'ers dubbed their apartment "Mehran's Steak House" on Google Maps during the pandemic.

Business News

Video: Mass Flooding Takes Over NYC Streets, Subways and Parks

All of New York City is under a state of emergency.


Want to Improve Your Brand's Storytelling? Shift Your POV to Tell a Better Narrative. Here's How.

In a crowded digital media environment of voluntary engagement, brand storytelling isn't enough to grab attention. You must approach the story from the right perspective — your customer's.

Business News

Netflix Is Mailing Out Its Last DVD Today. I Got the Very First One 25 Years Ago.

Netflix co-founder and founding CEO Marc Randolph tells the story of the first Netflix DVD that got sent in the mail — and one he wished never went out the door.