Smarter Finance USA Blog

3D printing is a big industry.

The market for 3D printing worldwide was $13.84 billion in 2021 and is expected to grow at 20% annually through 2030.

If you’ve considered a 3D printing solution for your business, you probably want some specifics.

Right?

Read on…

So…

You’re running a successful business…

…there should be plenty of profit left over (for you to, like live on)…

…but somehow…

…loan payments are eating away all the profit.

(Sound familiar?)

Here are a few ways your small business can get out of debt:

(… or at least get some breathing room…)

Are you looking for truck financing?

You probably want to avoid getting ripped off, right?

Maybe you check out some companies online...

Did you know that some companies with an A+ BBB rating...

Show up all over complaint websites like pissedconsumer.com or the Ripoff Report.

Of course, it might just be their competitors posting complaints on those websites - there really is no verification process, so it's really hard to tell who's going to be honest and who isn't.

Have you been pitched a merchant cash advance?

I bet the dude (or dudette...) you spoke with didn't quote a real interest rate, right?

They'll tell you that cash advances don't have an interest rate... 

...because merchant cash advance lenders simply take a portion of your daily credit card sales. 

That way on good days you pay more...

...and on bad days you pay less...

Doesn't that sound just peachy?

So... you need to finance heavy equipment.

Are you wondering which companies you can trust?

We hear from many folks who speak to a heavy equipment finance company...

...and get told one thing...

...but after they have paid a deposit the terms change. 

Maybe you've seen some of this debauchery out there. 

if you know what to look for... hopefully you can avoid some of the shams when you finance construction machinery. 

Do you need a loan for your restaurant?

Have you tried your bank?

I know... that's a silly question.

You'd have better luck buying a handful of scratchers at the gas station than trying to score restaurant financing through Bank of Whatever.

 The good news is that there are plenty of other places to look for restaurant loans.

If you're trying to figure out what your rates will be...

... now that's a totally different story.

There's a huge problem with equipment leasing rates.

One of the first questions we get from a prospect is always, "what are the rates?"

Want to know a secret?

this question is usually not a problem if you've got great credit and have been in business for a few years...

...because the rates will really be pretty low.

 If you're a startup business or have rough credit... 

This one little question is a huge part of why there are so many scams in the industry. 

Here's why... 

A recent article in Bloomberg entitled Wall Street Finds New Subprime With 125% Business Loans talks about the recent phenomenon of extraordinarily high interest rate business loans. The article goes on to detail the exploits of a company called World Business Lenders and how a loan they offered carried a 110% interest rate.

Bloomberg's reporter got the math wrong. The loan they describe is actually a 170% interest rate.