Equipment you can finance
Getting an equipment lease or financing can help you fund a variety of business needs. This financing solution can be used for things like:
▶ Vehicles
▶ Heavy machinery
▶ Restaurant appliances
▶ Medical equipment
▶ Office furniture
▶ Technology systems
Regardless of your company’s industry, exploring your equipment finance options could help the success of your business. Plus, equipment lenders usually report to business credit. The more business credit you build the greater opportunity you have in the future to receive the best rates and terms for the money you receive and increase your businesses ability to receive future loans without a personal guarantee.
Minimum Requirements For Equipment Financing
If your business doesn’t match some of the qualifiers below, it may be more challenging to receive funding from our lending partners.
CREDIT SCORE
650 or higher
ANNUAL REVENUE
$50,000+
TIME IN BUSINESS
12 Months
Cost of Equipment Financing
Your equipment financing payments are determined by four things:
▶ Funded amount
▶ Interest rate
▶ Term
▶ Collateral
These factors can vary widely across industries and equipment types. That’s why we work with a variety of lenders who specialize in industry-specific small business loans, so we can help you find the best deal.
To figure out whether you’ll also see a hearty long-term return on investment, consider the longevity of the equipment you’re financing. Equipment that only gives your business a minor lift and may be obsolete in a few years when you pay off your financed amount may not give you the long-term leg up that you’re looking for, whereas receiving a funded amount over a 4-year term on equipment that will last for several years beyond that could be a much better investment.
LOAN AMOUNT
$5,000- $5,000,000
TIME TO FUND
As Fast As 24 Hours
LOAN TERMS
1-5 Years
INTEREST RATE
As Low as 7.5%
