Equipment finance allows you to set up your practice and keep up to date with changes in best practice without taking a massive hit to your working capital. See how much you could borrow with our equipment finance calculator. Want to keep the asset purchase off your balance sheet, to improve your performance ratios (to achieve this you’ll need to opt for an operating lease).
- Banks have strict small business lending standards, and what they offer is often not available to brand new businesses.
- With a bit of preparation, business owners can access the equipment they need to successfully run their businesses.
- Which is why Crest Capital’s fixed terms are better than the bank’s adjustable rates.
- The majority of small businesses in the industries that require heavy machinery and various sophisticated equipment have a rather limited cash flow.
We have several different equipment-oriented lending options available for your specific needs and budget conditions. These include asset-based lending, accounts receivable financing, rapid equipment financing and general small business loans. Accord Financial understands what running a business requires, both practically and economically, and we strive to offer financing solutions that benefit business owners like you.
Equipment Finance Comparison
In this scenario, the lender owns the equipment and you are simply paying to use it. Unlike equipment financing, equipment leases do not require down payments or collateral, and may have lower monthly installments than an equipment loan. A business equipment loan can help you quickly obtain working capital to buy or lease the items you need for your business.