The shop gained popularity from its social media. Their online shop was constantly filled with shoppers, and they had orders from all over North America. They have started uploading videos to YouTube on project tutorials and Tiktok with fast quilting tips.

 

The shop was massive, and they had it divided into two sections. They had a retail area where customers could come in and shop and get fabric yardage cut. The other room was for their online sales and had an overflow of fabric bolts waiting to be put out. There was also an area where they filmed their video tutorials.

 

The guest asked if they knew about digital machines that did the quilting for you and would only need to be readjusted after every row. The owner liked the idea of having a long-arm machine in their studio and being able to offer that service to their customers would be a great add-on for them and would help pay for the cost of the machine.

She started researching new long-arm machines and the digital software needed to make them hands-free. It would be expensive to get everything, with the final price tag being forty thousand dollars.

 

When looking into financing options, she found equipment financing. What was different about this type of loan, is she had the opportunity to lease the machine over a period of time and decide if she would keep it afterward. She thought this would be the best option for her because if this machine weren’t adding to their business profits, she would be able to give it back at the end of her term.

She filled out the application and was surprised at how easy it was. She had the yearly revenue and FICO score needed and could provide her bank statements and equipment lease information. She decided to lease the equipment over two years, and after that term, she could buy out the remaining price or give the equipment back. Her funding went through in seven business days, and the machine was delivered and installed within two weeks.

 

The owner was pleased to have such a great asset to their business, and customers have already started bringing in unfinished projects. For a small fee, they could rent the machine and do the free motion quilting themselves or pay per square inch to have the digital design system take over. After one year, it seemed this would be a great investment, and the owner had already started saving up to buy out the machine at the end of her two-year term.

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