We provide much-needed financing and other business services throughout the United States. If you are considering whether to use an online business lender or a bank, we have created a short guide to outline the different process. Leasing option for higher value equipment with longer lifespan. As the equipment acts as collateral in the loan, it should help to keep interest rates lower for the borrower. C) After agreeing to the terms of the loans, money is in the bank instantly. Some online business lenders even go above and beyond and get back to applicants within an hour if applications are received during business hours.

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  • If you’re keen to learn more about small business equipment financing and when small business loans can be a viable solution to drive your business forward then you’re in the right place.
  • The entire monthly payment is tax-deductible, and when the lease is up you can return the equipment or buy it for fair market value.
  • Choose a leasing option for easy regular upgrades and avoid outdated equipment.
  • The right equipment can not only be necessary for day-to-day operations but can also help a business grow, expand, and improve efficiency.

This can be expensive and a burden if you don’t have the budget. Regardless of whether your equipment runs or not, you still have to pay back the loan. While some online financiers promise a quote within just a few days, the application process will be quicker and less stressful if you prepare in advance.

How to Qualify for a Startup Business Loan

There’s no need to make a large, lump-sum payment to cover the entire price upfront. Instead, the cost of the equipment will be broken down into more manageable payments – which will be easier on your cash flow. Our customers benefit by only completing a simple application without the need for tax returns and financial statements, and getting a decision immediately rather than waiting weeks.

Small Business Equipment Financing

Excellent credit is a prerequisite for many small business Equipment Loans, and it may even be the most crucial one. Why is an equipment specialist key to finding the right equipment for your business needs? They can assist you in determining what your business needs right now and what equipment is necessary for future expansion. Once you know what you need, they can connect you with the right vendor and then walk you through the financing process. With our all-encompassing affordable equipment financing, our knowledgeable team can give you the tools necessary to take your business to the next level. Your payment obligation begins when we make payment for the equipment, also sometimes referred to as the commencement date.