Equipment Loans
Equip your business with the necessary tools for success through our tailored equipment loans and leases, offering flexible terms and manageable payments to suit your unique operational needs.
Lending Overview
Equipment Loans
Restaurants, construction crews, hospitals, and manufacturing facilities all rely on equipment to help them get the job done. But hard-working, reliable equipment comes at a cost. Smart businesses break down the high cost of buying equipment with equipment loans and leases. Equipment financing lets business owners onboard new equipment faster without dropping a large lump sum upfront. For long-lasting equipment, a 10-year equipment loan saves capital and makes heavy machinery affordable. For short-term equipment needs, equipment leases let businesses try before they buy and upgrade quickly. That’s not all equipment financing can do. Sale-leasebacks allow businesses to sell their equipment without giving it up to the buyer. The equipment stays in place under a new lease and the business gets a cash lump sum. Repairs, maintenance, and upgrades may be included under the lease. It’s easy to finance your business’s next equipment buy. Speak with a qualified broker today to learn how.
Smart Strategies
How to Effectively Apply Funds
Equipment loans and leases, naturally, are used to acquire new or used business equipment. However, that equipment can mean a wide range of resources, from copy machines to machine presses. Restaurants can use equipment loans for refrigeration, ovens, and POS systems. Retailers use them to provide staff with scanners, forklifts, and display monitors. Technology like computer networks, software licenses, and telecommunications can also be paid for with equipment loans. Equipment financing can work the other way, too, providing a business with working capital based on equipment assets. Ask your broker about hard money loans and sale-leasebacks to get extra cash for your business now.
Advantages of
Equipment Loans
Makes owning equipment affordable
Get approved, even with bad credit
Get capital based on the value of your equipment
Short and long-term options are available
Our Values
We are dedicated to serving each client at the highest level.
Integrity
Innovation
Trust
Tailored Lending Solutions
Flexible Financing Solutions for Essential Equipment
Buying
Buying business equipment is expensive, but you don’t have to pay for it all at once. Equipment loans let you spread the cost of equipment out over months, quarters, or years so you can get what your business needs right away. Ask a broker how an equipment loan can help your business move ahead.
Leasing
When your equipment needs are short-term, you need financing to match. Equipment leasing gives you a way to get equipment on a temporary basis for up to five years or more. Repair and maintenance can be included in your lease, so you won’t have to worry about equipment breaking down. Ask a broker if leasing is right for you.
Sale-Leaseback
A sale-leaseback lets you get working capital based on the value of your company’s equipment assets. The buyer gives you a lump sum to pay for the equipment. Instead of handing over the equipment, however, you keep it in place under a lease. Sale-leasebacks are a great way to generate additional capital from your existing equipment.
FAQ
Frequently
asked questions
Q. Should I buy or lease equipment for my business?
Whether you buy or lease will depend on how long you expect to use the equipment. As a general rule, equipment with a usable lifespan of around five years is better to lease. If the equipment is built to last around ten years, it can be more beneficial to use an equipment loan. Essentially, you’ll want to match the terms of your financing to the equipment’s expected usable lifespan.
Q. Is leasing business equipment expensive?
Leasing equipment for your business doesn’t have to be expensive. The cost depends on the type of equipment you need, the term of the lease, and your credit score. However, it’s usually cheaper to lease equipment than to purchase it without a loan.
Q. Will an equipment loan cover tech and software?
Yes. Businesses fund their tech and software needs with equipment loans every day. If you’re a software or tech provider, brokers can also help you partner with a lender that provides financing to your customers.
Q. Who owns the equipment in a sale-leaseback?
Terms and conditions vary depending on your agreement with the buyer. In most cases, your company can no longer claim the equipment as an asset, even though it’s being used by your business.
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