Equipment Financing is a loan product used to help business owners purchase any type of equipment needed to run the business. Equipment finance is available with little or no down payment, in both lease and loan options. The approval process is fast, the payment schedule is affordable and there are potential tax advantages.
Most business needs equipment. Some need a new oven or a new tractor; while others may need a new truck; computers, or medical devices. Our Equipment Funding can be used for years or for short-term options as well & we offer both leasing and financing for this equipment.
The loan amount is dependent upon the type of equipment needed, as the repayment term is usually as long as the expected life of the piece of equipment. Equipment Financing usually means a fixed interest rate and fixed term so payments don’t fluctuate