Equipment Financing
Equipment financing is business funding used for purchasing equipment without large cash payments.
What Is an Equipment Lease Financing?
Equipment lease financing is similar to equipment financing except when leasing, you are technically paying the equipment’s owner to rent it each month. At the end of the leasing period, you can opt for a buyout and purchase the equipment or end the leasing contract. Keep in mind, a disadvantage of renting equipment without the prospect of owning it may be expensive in the long run. The more you explain about yourself and your objectives, the easier it will be to secure the funding you desire.
How Does Equipment Financing Work?
Equipment financing refers to a loan used to purchase business-related equipment. Instead of using your working capital to buy the qualifying equipment, equipment financing allows you to finance the total equipment cost and repay the interest and principal over fixed terms. Once the payback period is complete, you will own the equipment outright.
How To Finance Heavy Equipment
Similar to equipment financing, heavy equipment loans allow businesses to borrow money to purchase large machinery such as forklifts, cranes, bulldozers, or other large machinery for which you need a license or special training to operate. Financing heavy equipment helps free up businesses cash flow while allowing you to continue to serve your customers.
What Do You Need To Qualify?
No Min. Time in Business
You can qualify for our top financing options, regardless of the age of your business.
No Min. Monthly Gross Sales
You can qualify for Equipment Financing with no minimum in monthly gross sales.
580+ Minimum FICO
We have financing options for all credit profiles. The minimum FICO score required to apply is 580.