By clicking “Get Qualified” you consent to receive SMS notifications and updates from us regarding our services & promotions. You can unsubscribe at anytime by replying “STOP” to any message received.
What Is a Equipment Financing?
Equipment financing is a financial arrangement that enables businesses to acquire the necessary tools, machinery, or technology they need to operate and grow, without having to make a substantial upfront payment. This type of financing is especially valuable for businesses that rely on specialized equipment such as yellow equipment, ovens, bar + restaurant equipment, anything that allows them to maintain a competitive edge by keeping their technology and machinery up-to-date.
What Do You Need to Qualify?
Time In Business
Minimum 1 year
Projected annual revenue $200,000+
Minimum credit score of 550
Paperwork for equipment to be purchased
Equipment financing is a financial arrangement where a lender provides funds to purchase equipment. The borrower then repays the lender over time, usually through monthly installments. The equipment itself serves as collateral for the loan, which can make it easier to secure financing compared to traditional loans.
Equipment financing can be used to acquire a wide range of assets, including machinery, vehicles, technology, medical equipment, and more. It’s not limited to a specific industry, making it a versatile option for businesses in various sectors.
Equipment financing offers several benefits, such as preserving working capital, tax advantages, fixed interest rates, and flexible terms. It allows businesses to obtain necessary equipment without a significant upfront cost, enabling them to stay competitive and maintain cash flow for other operational needs.
Yes a minimum score of 500 is required to qualify.