Equipment Financing provides loans specifically for purchasing business equipment, offering capital to acquire essential assets.
You secure a loan to purchase equipment. The equipment itself serves as collateral, allowing you to acquire assets while spreading payments over time.
Enables you to access essential equipment without a large upfront cost, conserving cash for other business needs.
Eligibility criteria typically include factors like credit history, business revenue, and time in operation.
Virtually any business equipment can be financed, from machinery and vehicles to technology and specialized tools.
Loan amounts vary based on the equipment's cost, your financials, and the lender's policies.
Terms range from 2 to 7 years, and interest rates can vary widely, often falling between 5% and 13%.
Some lenders may require a down payment, but many offer 100% financing, reducing the upfront cost.
Yes, you can finance both new and used equipment, expanding your options for acquiring necessary assets.
Some lenders offer options to upgrade or trade in equipment, allowing your business to stay up-to-date with technology and industry trends.
Approval times vary, but some lenders offer quick decisions, allowing you to access funds within a few business days.
Commonly required documents include equipment quotes or invoices, business financials, tax returns, and information about the equipment being financed.
Yes, startups may be eligible for Equipment Financing, depending on their creditworthiness and business plan.
Research reputable lenders, compare terms and offers, and choose a lender that understands your industry and equipment needs.
Short-term financing options designed to cover day-to-day operational expenses and manage cash flow gaps.