EQUIPMENT FINANCING
Equipment financing is the best option for you if you need funds to purchase business-related equipment. It provides businesses with the necessary funds to buy equipment for business operations, such as computers, machinery, furniture, commercial vehicles, and more. An equipment loan is a type of asset-based financing in which the equipment serves as security for the loan. In addition, the lender may impose a claim on some of your other assets or require a personal guarantee. Failure to repay your debt may result in asset repossession. If the loan is paid in full, you own the equipment free and clear of lien. Taking out an equipment loan, you will need to make periodic payments over a certain period, including the principal and interest.
Best for:
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Replacing older or out-of-date equipment
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Adding new equipment
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Businesses that don't have time for a
traditional, document-heavy loan
What is Equipment Financing?
Pros of Equipment Financing
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Fast funding
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Full ownership of the equipment once fully paid
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Tax deductible
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Flexible payment schedule
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Improves business credit rating
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Restrictive
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Potential for additional liabilities
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The length of the term may surpass the equipment's life
Cons of Equipment Financing
2. We will review
your application
We review your goals and present you with programs matching your needs, getting an offer in 24 hours.
3. Receive Funding
Choose the program that fits you best and receive funding within 48 hours.
1. Apply
Fill up application form.
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