Financing a new business opportunity can be a source of stress for even the most experienced entrepreneur. Having the right financing partner can help alleviate this stress and ensure your goal of owning your own trash and dumpster cleaning business becomes a profitable reality. At Sparkling Bins, we offer many different financing options to support you in opening your new business.
When you are seeking to start your own trash and dumpster cleaning business, you’ll want to find the most cost-effective way to finance the equipment you need. The decisions you make will vary and will depend on your equipment needs, budget and the state of your personal finances. We, at Sparkling Bins, will be there, to help you to make the right decisions based on your business goals. One of the decisions you will be faced with is selecting a lender. We highly recommend that you use a commercial lender which ensures your business investment will not reflect on your personal credit. It also provides you with the ability to establish commercial credit, allowing you to ultimately grow your business if you choose to add additional bin cleaning systems over time. The first thing a lender is going to be concerned with is your credit score. Generally, if your FICO score is over 690, we can submit your application to a tier-one lender and we, at Sparkling Bins, work with the absolute best of them!
Sparkling Bins works closely with over 15 different lenders and we also include leasing options. We are here to support you from the moment you reach out to us throughout the entire process. When you begin, our finance director will review your credit application and determine the best option for your business. There are so many decisions to be made. When working with Sparkling Bins, you will never be alone in the process. We will be there to ensure your financial decisions align with your ultimate business goals, helping you to make the sound decisions you need to start off on a path for success!
Here are some things to think about as you consider starting a bin and dumpster cleaning business. Typically, for a start-up business, most lenders require 20% down and will finance over a 60-month period. If your credit is very strong, some lenders will offer financing as low as 10% down, for a lending period of over 72 months. Once you have submitted your application, the approval process will take 24-48 hours. Once you’ve owned an existing business for at least 2 years and have established commercial credit (such as purchasing or leasing equipment or vehicles) some lenders will approve your new loan with no down payment and will allow financing for over 72 months.
New entrepreneurs surely have the option to apply for an SBA loan through a local bank or other lenders. However, this process could take months. In most cases, hopeful business owners are then forced to submit a business plan which can take weeks to put together and can be quite intimidating. Most of these other lenders do not understand this business and because of their lack of familiarity, may require a much higher down payment, labeling this loan “high-risk.” None of this is required when you choose to partner with Sparkling Bins. When financing with Sparkling Bins, you bypass all of this up-front effort and lower your risk of financing a loan at a higher interest rate. At Sparkling Bins, we have the experience and we already have the established relationships with the top lenders. Because we handle everything for you, the process becomes very simple. Once we have done the up-front work of determining the right equipment that you need to finance, you will simply be asked to fill out the application and provide us with a copy of your license – that’s it! We take away all of the pain, fear and uncertainty as we work with our familiar and highly experienced tier-one lenders to finance your loan with a trusted bank at an appropriate rate. The best part – we will have an answer for you within 24-48 hours!
Making the decision to finance a new business can be overwhelming and risky if you do not have the right partner. Sparkling Bins has financed over 10 million dollars for our clients in the past 3 years alone! Because of our expertise, experience and sound business strategy, we are able to get you the best rates in the industry which puts your business ahead right from the start. Our lenders understand our business model and they are highly familiar with the success rates of Sparkling Bins’ clients. You truly can’t afford to open a new trash, recycling or dumpster cleaning business without Sparkling Bins!