Equipment Financing

Don’t stunt your business’s growth by managing old and outdated equipment.

Every business counts on equipment to keep business going, yet many are stuck with old and outdated equipment – even defective technologies.

Why don’t you leverage our broad lender network to get financing for the equipment your business needs? Whether you need to purchase vehicles, machines, or software, we can source funding.

Steady Growth

Maintain steady growth with the latest tools your business needs to stay on top.

The Equipment You Need

Avoid uncomfortably high expenses and make several smaller payments. Equipment financing helps you get the equipment you need to keep your business running without draining your wallet.

Improved Cash Flow

You can leverage a sales leaseback to get cash for a piece of equipment you already use without having to give it up.

01. What Is Equipment Financing

02. How Does Equipment Financing Work

03. FAQ’s

What Is Equipment Financing?

Equipment financing is a funding method that provides your business with loans to purchase or lease equipment. Heavy-duty machines like industrial ovens and tractors don’t come cheap. High-capacity networks and software cost a great deal too. But if your business needs it to thrive, you should be able to get it. Even if you don’t have the cash, you have equipment financing to help you fund the purchase.

The most significant advantage of equipment financing is that it allows you to purchase the equipment you need to keep up with workflow and maximize sales while managing costs. Instead of having a business owner bear expensive upfront costs of equipment, the loan program funds it and breaks down the debt into smaller and more manageable payments to make repayment easier.

Equipment financing doesn’t only work to purchase new equipment; you can also use it to update existing equipment and refinancing another equipment loan.

How Does Equipment Financing Work?

1. Application

To begin your loan process, you are required to apply online. The application should include your needs as well as details of your business. This will give us and our lenders information to work with when considering your offer.

2. Consultation

After completing the application process, you will be connected with an experienced borrower advocate who will work with you to explore the loan options you need. This specialist will also give you professional recommendations on the loan program you should select. Note that this consultation is completely free.

3. Lender Selection

This step requires nothing from you. Working with the information gathered from you, we will locate lenders that are well suited for your business. We will prepare and sell the offer to them to gain their interest.

4. Underwriting, Approval & Funding

This stage comes after you have been matched with a lender. You will work with the lender to underwrite your loan. This includes reviewing your application. After this, your loan will be potentially approved. Upon approval, your loan can be funded.

5. Continuous Support

Even after you get the cash, Our Company remains there for you. We have a team of capital specialists who are always on call for you. Whether you are considering an expansion or you’re unsure what step to take, you can always contact us for help.

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Frequently Asked Questions

Can I get Equipment Financing with a low credit score?

Equipment loans are secured on the equipment being purchased, so a low credit score isn’t usually a factor for the approval of equipment financing. Lenders tend to consider a business’s annual revenue and length of operation.

How long does Equipment Financing last?

This varies by lender and the exact terms of your financing option. Typically, equipment financing lasts between one to seven years. Over that time, you will be required to make monthly repayments to the lender.

What is the interest rate on an Equipment Loan?

Equipment loan interest rates range between 8% and 30%. Where your rate falls depends on the equipment you’re financing and the loan amount. Other factors such as the business revenue and your time in business also matter. We can connect you with a lender with the best possible interest rate.

When is Equipment Financing not a good fit?

If the equipment you need isn’t going to outlive the loan term, equipment financing is not an advisable loan program for you. You don’t want to be stuck repaying a loan for a damaged or outdated item.

Take Your First Step

Apply Today