Mist-On Systems does
not offer financing, but does assist purchasers in obtaining financing
from third parties.
In general, it is best
to purchase the unit with your own resources. Usually, this is
not possible. Even if this is possible, purchasers often prefer
not to tie up their capital, or want to leverage their resources.
Bank loans are highly
desirable, if it can be arranged. Banks generally have the best
terms and lowest interest rates. However, they have very stringent
credit-rating requirements, and generally do not like making business
loans. Most of the bank loans obtained for Mist-On units have
been from smaller, local banks, and the purchaser had an ongoing
banking relationship with a key bank officer.
The SBA loans also
have good terms and interest rates. However, the application process
is grueling. Even their "accelerated" or "streamlined" applications
are grueling. There is also considerable paperwork required during
the loan payback period.
Third party leasing
companies tend to be quite costly in terms of higher interest
rates, but have fewer upfront costs, lower down payments, and
a much easier and quicker application process. For many purchasers,
they are a very attractive financial option. There are several
leasing companies that will entertain applications for Mist-On
tanning units. Some will fund new start-ups, others require that
you have been in business for at least 2 years, and some even
require you have been in business 7 years or more. For a list
of leasing companies that have funded or have agreed to fund the
purchase of Mist-On tanning units, contact:
