Equipment Financing Need

May 31, 2024
by a searcher from University of Kansas in Kansas City, MO, USA
A little under a year after my acquisition of a precision manufacturing company in Kansas City, I'm learning that when you do an asset purchase you are considered a "startup" by many lenders until your new entity is at least two years old. I'm trying to buy new equipment to start modernizing our operations. The initial lenders I've talked to will lend to me, but are limiting the amount to about half of what I need. Has anyone dealt with this issue and have some insight or references to lenders who might be familiar with ETA and have more flexibility? Would anyone who does equipment financing like to talk?
from University of Massachusetts Amherst in Boston, MA, USA
from Eastern Illinois University in 900 E Diehl Rd, Naperville, IL 60563, USA