How it Works
1
Apply online in
just minutes
Apply directly through our secure-based application.
2
We find you the
best match
We’ll evaluate your business needs and revenue to provide you with the best options possible.
3
Receive funds
quickly
Choose your capital and get funded in as little as 24 hours!
Equipment Finance Loan
Our Equipment financing Program is a type of loan that businesses can use to purchase equipment they need to operate their businesses. Equipment loans can be used to purchase a wide variety of equipment, including vehicles, machinery, and computers.
There are many different types of small business loans available, each with Equipment loans are typically secured loans, which means that the equipment being purchased is used as collateral for the loan. This means that if the borrower defaults on the loan, the lender can repossess the equipment.
Who should apply for
an Equipment Loan?
Equipment loans can be a good option for businesses that need to purchase equipment but don’t have the cash on hand to pay for it outright. Equipment loans can also be a good option for businesses that want to improve their cash flow by spreading out the cost of equipment over time.
What are the terms
for an Equipment Loan?
The terms of equipment loans can vary depending on the lender, the type of equipment being purchased, and the borrower’s creditworthiness. There are a number of different lenders that offer equipment financing, including banks, credit unions, and online lenders.
When considering an equipment loan, it is important to compare the terms of different loans to find the best deal. It is also important to make sure that the business can afford the monthly payments on the loan.
What are the Benefits
of an Equipment Loan?
- It can help you purchase the equipment you need to grow your business.
- It can improve your cash flow by spreading out the cost of equipment over time.
- It can help you improve your credit score.
What are the Risks of
Equipment Financing?
- You may have to provide collateral, such as the equipment you are purchasing.
- You may have to pay high interest rates.
- You may have to make monthly payments for a long period of time.
If you are considering equipment financing, it is important to weigh the benefits and risks carefully to decide if it is the right option for your business.
Tips for applying for
an Equipment Loan
- Get your credit score in order. Lenders will look at your credit score to determine your eligibility for a loan and the interest rate you will pay.
- Shop around for the best deal. Compare interest rates and terms from different lenders.
- Be prepared to provide collateral. Lenders may require you to provide collateral, such as the equipment you are purchasing, to secure the loan.
- Make sure you can afford the monthly payments. Before you sign on the dotted line, make sure you can afford the monthly payments on the loan.
