How Do I Get the Equipment My Business Needs?

April 30, 2024   |   Written By Lexicon Bank
How Do I Get the Equipment My Business Needs?

In the competitively dynamic business landscape of Las Vegas, getting the equipment you need matters. Having the right equipment is a cornerstone of business success. Whether you’re a dazzling restaurant off the Strip that needs updated state-of-the-art kitchen appliances, a construction company requiring heavy machinery, a personal salon and spa, or a tech company needing state-of-the-art technological assets, acquiring the necessary equipment is a significant financial hurdle. Lexicon Bank, your leading Las Vegas-based financial institution, can help find the best solutions to meet your needs  with sensible financing solutions.

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From New Beginnings to Upgrading Existing Facilities

Lexicon Bank understands, like no other bank, the unique equipment needs for Las Vegas businesses. So, we offer a variety of financing options that cater to your specific requirements, whether you’re:

  • Launching a New Venture

Equipping a new business from scratch requires a substantial upfront investment. Our financing solutions can help you acquire essential capital equipment without using all your operational cash.

  • Expanding Operations

As your business grows, you need additional capabilities to meet increased demand. We may be able to help you finance the needed machinery, tools, and assets to fuel your expansion.

  • Upgrading Existing Equipment

Technology advances rapidly, and outdated equipment hinders productivity and puts businesses at disadvantages. Our financing options allow you to upgrade to more efficient and advanced equipment to keep you ahead of the curve.

  • Repairing Essential Assets

Even the most reliable equipment breaks down and requires repairs from time to time. Lexicon Bank offers solutions to finance unexpected repairs, ensuring that your operations don’t grind to a halt.


Tailored Financing Solutions

Lexicon Bank is not a one-size-fits-all institution. We offer a diverse range of financing options to match your specific needs:

  • Equipment Loans

This traditional approach provides a fixed amount of money for the purchase of new or used equipment. The loan is repaid with fixed monthly installments over a predetermined term.

  • Lines of Credit

This flexible option offers a revolving line of credit that can be used to finance  purchases as needed. This is ideal for ongoing  needs or unexpected financing needs. After all the purchases are made, the loan will be converted to a term loan. This allows the business owner to purchase equipment on their terms with the flexibility of time and not having to pay interest on money not used up front.

  • Lease Financing

Leasing equipment allows for its use over a set period in exchange for fixed monthly payments. At the end of the lease term, there is the option to purchase the equipment for a predetermined residual value. We can connect you with our partners who can help with this need.


Creative Financing for Creative Businesses

Lexicon Bank is aware that for some, equipment needs might not fit neatly into traditional financing boxes. Our experienced loan officers work with business people like you to explore creative financing solutions, such as:

  • Vendor Financing

Some equipment vendors offer financing programs directly. We can partner with you to help evaluate the better of these types of options and be your trusted financial partner.


Beyond Financing: The Lexicon Bank Advantage

Lexicon Bank prioritizes customer service and goes beyond simply providing financing. Here’s what sets us apart:

  • Fast and Streamlined Approval Process

We understand the urgency of acquiring equipment to keep your business running. Our application process is streamlined to minimize red tape and help you move quickly.

  • Competitive Rates and Flexible Terms

We offer competitive rates and flexible financing terms and craft them to accommodate your budget and cash flow.

  • Local Expertise

Our loan officers are your personal bankers, and they are very familiar with how businesses operate in the greater Las Vegas area and throughout the state. We provide personalized expertise and advice tailored to your needs.

  • Dedicated Relationship Manager

You’ll have a dedicated relationship banker to guide you through the entire process, from application to loan servicing.


Investing in Your Future

Equipping your business with the right tools is an investment in your future success. At Lexicon Bank, we are committed to partnering with Las Vegas businesses to achieve their growth goals. With our diverse equipment financing solutions, expert guidance, and dedication to customer service, we can help you bridge the gap between your equipment needs and your financial reality.

If you’re looking for people who believe in you and your dreams, have our experienced team craft a financial solution that meets your specific needs.

Special Notice:

This blog is for informational purposes only and is not to be considered financial advice or a promise of credit. Before making any financing decision, consult with a qualified financial professional to determine the best options for your unique circumstances.

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