Equipment Loans
Equipment Loans
Lending Overview
Where would your company be without the computers, phones, machines, and other equipment you depend on? It is easy to take your equipment for granted when you work with it every day until it is no longer functioning. When it is time to replace or upgrade your equipment, it is time for an equipment loan. For many businesses, equipment is one of the biggest expenses they will face. Equipment loans make it easy for any sized business to afford the right equipment and save investment capital. But, you do not always need an equipment loan. Leasing helps you onboard equipment for short-term needs before you decide and can help you handle special projects. The equipment you already have can be leveraged for working capital when you utilize a sale leaseback. When it comes to helping companies get the equipment they need, our brokers are the experts. Ask us how to get new equipment into your workflow without breaking the bank.
How to Effectively Apply Funds
Ensure your equipment financing aligns with the lifespan and strategic goals of your business, enhancing operational efficiency and asset management.
The first question to ask when you are considering getting equipment for your business is, what is the equipment’s useful lifespan? In other words, how long do you expect it to last? If the answer is “just a few years” then an equipment lease is the best option. If you are expecting a decade or more of service from the equipment, it is better to go with an equipment loan. Most equipment loans have terms of around 10 years. If your equipment only lasts three, you will still be left paying on the loan for another seven years. With a lease, you can get a much shorter term and have repair and maintenance costs included. But, if your equipment lasts long-term, you have an asset you own that you can leverage. If you have equipment financing questions, we have answers. Contact a broker today!
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Industrial
Equipment does the heavy lifting and dangerous tasks found in most industrial environments. When you need powerful equipment to get the job done, we have powerful financing to cover your needs. Ask us how to get a great deal on industrial equipment loans and leases and find out how easy it is to get financed.
Medical
Medical equipment can save lives, whether it is diagnostic machines for early detection or ventilators to sustain life. For the medical industry, going without this equipment is not an option. But that does not mean medical equipment can not be affordable. That is where our brokers come in. We will show you where to find the best deals on equipment financing.
Food Service
If you are in the food service industry, you know it is hard work. Now imagine doing that work without freezers, ovens, and processors. Reliable food service equipment does not come cheap, but with equipment financing from our lender network, you can manage the upfront cost affordably. We will work with you to see you get the loan or lease you need.
Advantages
Gain financial leverage and operational flexibility with our equipment loans, designed to enhance your business’s productivity and long-term growth.
Makes Equipment More Affordable
Low Down Payments
Loan & Lease Options Available
Easy To Apply!
FAQ’s
Got Questions? We Got Answers!
Q. What is a sale-leaseback for equipment?
A sale leaseback lets you sell the equipment you have without moving it to a new location. Instead, you lease the same equipment back from the new owner. A sale leaseback is a great way to get a lump sum of working capital without surrendering the equipment.
Q. Why should I lease equipment?
Buying equipment might be feasible for your business, but leasing can still be a better option. If you get a 10-year loan for equipment that only lasts five, you’re still paying for equipment you’re not using. In that case, a lease would be a better fit because you can upgrade, surrender, or renew after just a few months or years.
Q. How do you determine the useful lifespan of equipment?
The lifespan of your equipment depends on several factors like how often it’s used, its current condition, how well it’s maintained, and its environmental conditions. You also might want to upgrade to newer equipment if it becomes outdated, even if it’s still functional.
Q. When is equipment financing not the best option?
Equipment financing is a valuable tool, but for smaller equipment purchases, a working capital loan can work too. Working capital loans give you fast access to cash that you can use anywhere in your business. With a variety of lenders and no-debt options, you’re sure to find the working capital financing that’s right for you when you work with our brokers.
