What types of businesses can benefit from equipment financing?

We work in a wide range of sectors to help customers achieve their business goals.  Some of these sectors include:   Transportation, Construction, Manufacturing, Medical, Food Service and more.
What type of equipment do you finance?

We can finance both NEW and USED equipment in the following sectors:  Transportation, Construction, Manufacturing, Medical, Food service and more.  If it has a serial number, chances are we can finance it!
What does the typical process involve?

The process of getting your application approved is quite simple.  All we would need is a signed credit application, a copy of your invoice or sales quote which shows the price and specs of the equipment and 3 months’ worth of bank statements.
How long does the process take?

Once we receive your signed application, we can get an answer within 24-48 hours in most cases.  
I am a new owner-operator, will I still be considered?

Yes!  We work with a wide range of lenders including those who will consider new owner-operators as well. 
Can I apply for equipment financing if I have less-than-perfect credit?

Yes!  Since we work with a wide range of lenders, we can work together to get your financing approved and help rebuild your credit. 
What happens at the end of the lease term?

Most lenders with have a residual payment at the end of your lease term. Residual payments typically range from $10 – $500.  After this, you will own the equipment outright. 
How do I get started with equipment financing?

Simply give us a call and we will walk you through the entire process!
What are the benefits of leasing equipment versus purchasing outright?

Leasing equipment offers several benefits compared to purchasing outright. Here are some key advantages of equipment leasing:
Preserve Cash Flow: Leasing allows you to conserve your business’s cash flow and working capital. Instead of making a large upfront payment to purchase equipment, you can make manageable monthly lease payments over the lease term. This enables you to allocate your funds for other essential business needs such as inventory, marketing, and operational expenses.
Flexibility: Leasing provides flexibility to adapt to changing business needs. As your business grows or technology evolves, you may require upgraded or different equipment. Leasing allows you to easily upgrade or add equipment during or at the end of the lease term, giving you the flexibility to stay current with the latest technology and equipment advancements.
Predictable Budgeting: With leasing, you have predictable monthly payments, which simplifies budgeting and financial planning. Since lease payments are typically fixed, you can forecast and manage your cash flow more effectively, without the worry of unexpected expenses or fluctuations in equipment value.
Tax Advantages: In many cases, lease payments may be tax-deductible as an operational expense, potentially reducing your taxable income. Consult with your accountant or tax advisor to understand the specific tax benefits applicable to your business and lease structure.
Maintenance and Support: Some equipment leasing agreements include maintenance and support services. This means that the lessor may be responsible for repairs, maintenance, and equipment upgrades. It allows you to focus on your core business activities while the lessor takes care of equipment-related issues, ensuring smooth operations.
Preserving Credit Lines: Leasing equipment can help preserve your existing credit lines with financial institutions. By opting for equipment leasing, you can keep credit lines available for other business needs, such as expansion, inventory financing, or unforeseen expenses.
What are the benefits of equipment financing compared to traditional bank loans?
Equipment financing offers several advantages compared to traditional bank loans. Here are some key benefits of equipment financing:
Equipment financing offers several advantages compared to traditional bank loans. Here are some key benefits of equipment financing:
Easier Approval Process: Equipment financing generally has a more streamlined and accessible approval process compared to traditional bank loans. Lenders specializing in equipment financing have in-depth knowledge of the industry and understand the value and resale potential of various types of equipment. This specialized expertise allows for quicker credit evaluations and approvals, providing you with a faster funding solution.
Collateralized Financing: Equipment financing is typically collateralized by the equipment itself. The equipment being financed serves as collateral for the loan or lease, reducing the need for additional collateral such as property or other business assets. This can make equipment financing a more accessible option, especially for businesses with limited collateral resources.
Preserve Working Capital: Equipment financing allows you to preserve your business’s working capital. Instead of tying up a significant portion of your cash reserves to purchase equipment outright, you can spread the cost over manageable monthly payments. This helps maintain sufficient cash flow for day-to-day operations, emergencies, and other business needs.
Flexible Financing Options: Equipment financing offers flexible financing options tailored to the unique needs of businesses. You can choose from various lease structures, including operating leases, capital leases, or lease-to-own options. This flexibility allows you to align the financing terms with your cash flow and equipment usage patterns.
Tax Advantages: Depending on your jurisdiction and specific circumstances, equipment financing may offer tax advantages. Lease payments are often considered operational expenses and may be tax-deductible, reducing your taxable income. Consult with your accountant or tax advisor to understand the potential tax benefits applicable to your business.
Technology and Equipment Upgrades: In fast-evolving industries, equipment can become obsolete relatively quickly. Equipment financing allows you to upgrade or replace outdated equipment at the end of the lease term, ensuring your business remains competitive and technologically advanced without the need for significant upfront investments.
Customized Solutions: Equipment financing providers often offer customized solutions tailored to your business needs. They understand the specific requirements of various industries and can structure financing terms accordingly. This personalized approach allows for greater flexibility in meeting your equipment acquisition goals.
Relationship Building: Building a relationship with an equipment financing provider can be beneficial for your business in the long term. Establishing a strong partnership with a lender who understands your industry can lead to future financing opportunities, better terms, and a smoother financing process for subsequent equipment acquisitions.
When considering equipment financing versus traditional bank loans, it’s essential to evaluate your specific business needs, financial situation, and long-term goals. Comparing the benefits and terms of different financing options will help you make an informed decision that aligns with your business objectives.