Financing for Camera Equipment

[mizarphotos]

I am getting back into photography after taking a few seasons off and I am in need of a lot of new equipment. I already have about 15 clients lined up but right now I just have a 5D, 24-105 and my 580EX. I am looking to get more lenses, backup body, lighting and other stuff.

Is there any places that specialize in financing for large camera orders that doesn't charge an arm and a leg for financing?

Thanks

[coreypolis]

calumet does leasing, but they will own you by the end.

some places like B&H with "bill me later" offer 60 days or 6 months intrest fee or delayed payments. but in general its better to pay for it upfront whenever possible.

[HoRnYTuRbO]

try looking for a credit card with low rates, store financing rates are crazy

[holrd]

if your looking to Finance something, look into a small business loan. Generally financing fees and rates can cost you more then its worth. Only you can answer that question, but think about it.

[ssim]

Whether you go into debt to do this is your personal choice but I really hate to see people do this. It is such a volatile industry with diminishing returns that it is a risk. When a lender sees risk, the interest rate goes up.

The 15 clients that you have lined up, do you have them signed up with a contract. Does that contract provide for a cancellation penalty if they decide to do that. Do these contracts allow you returns that will allow you to easily handle the financing charges, cover your direct operating cost and your fixed costs on a continual basis plus put food on the table.

Have you done a business plan that you can present to a lender for their review. What is your plan beyond these 15 clients. They will want to know what you have to offer them as collateral which cannot be the equipment that you are buying, they will already own that. What do you classify as a large camera order.

I am assuming that you are asking this question because this is your livelihood. Otherwise you could finance it from your day job. I'm not saying that you shouldn't do this but you have to be prepared with answers for some of these questions above. I just hate to see people going in debt in and industry that can be quite cruel at times.

I tried going to your site to get an understanding of what you shoot but always ended up on some test page. Perhaps you were doing maintenance or your provider was down for the period that I was trying.

[cowpix]

Don't even think about using a credit card. Maybe a small business loan or bank loan. But it is better if you can self-finance this move. Do you believe in yourself and your abilities? Do you own your home? If you have confidence in yourself, put your house on the line. Now you have a major incentive to succeed.

[PhotosGuy]

5D, 24-105 and my 580EX. Do you really need something else now? I used to do most of my film shooting with a 20mm, 50mm, & 105mm. If you must have a particular lens for a job, why not rent it?
Now, my 300D paid for my 20D, 28-70 f/2.8, 70-200 f/4, & I paid cash for them.