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The borrower has total use of the asset during this period and like a chattel mortgage it would also see the borrower, in the end, own the equipment. Though in this instance, only once the commercial hire purchase agreement has finished and all repayments are complete. If you own a small business and need to purchase equipment of any kind, the cost can often be prohibitive. With equipment financing, though, you can either take out a loan or lease that equipment from an equipment financing lender. Offering up to $500,000 with a quick online application (and up to $1 million … Read more