Efficient operation with regularly upgraded equipment may end up covering that cost gap with energy savings and increased productivity. Because most companies use equipment of some type, a small-business equipment loan is something every owner should consider. It might just be a laptop and a phone, but it could be as elaborate as manufacturing robotics.
There are numerous options for small business credit cards, and you can get more than one. Most business cards offer quick, easy, and convenient access to funding as well as rewards, cashback schemes, and interest-free terms of up to 90 days. As you pay off the balance, you can build your credit record, which can help you get more significant financing later. You or your employees can use credit cards for ordering supplies and paying business expenses quickly while tracking them and keeping them separate from personal spending. To secure a small business term loan, you’ll need to decide exactly what you’ll need the money for, how much you’ll need to borrow, how long you’ll need it.
Purchase Equipment
You can finance almost any type of major equipment your business needs to run smoothly, expand and maintain competitiveness. We know sometimes getting the right equipment for your business may require additional working capital. Our equipment financing loans help businesses get the equipment they need. The loan itself is not an asset, but equipment loans are an asset-based form of financing. This means that you’re using a loan to purchase an asset — the equipment itself will serve as collateral for the loan, and once your loan is fully paid, you’ll own the equipment free and clear.
- Whether you’re a construction company, a landscaper, a restaurant owner, or you work in the B2B services space, keeping your business running has never been easier with Kapitus equipment financing.
- With the right equipment, you can improve your bottom line and cater to more customers.
- Leasing equipment can be a good alternative to taking out a loan if the equipment you need will become outdated and/or need to be replaced fast.
- It’s not uncommon for equipment financing lenders to also ask for personal documentation such as your Social Security Number and bank statements.
Describe how your business fills a specific need in the market, and back it up with numbers. Set attainable financial goals—and explain how the equipment you want will help achieve them. There are a lot of pizza places out there; what makes yours so compelling? Equipment financing for industries including aviation, communications, healthcare, maritime and restaurant, from small-ticket transactions to corporate capital equipment programs. Financing up to for farm equipment, heavy construction equipment, trucks and trailers for small and medium-size businesses.
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We achieve this with a cutting edge combination of data science and technology that ensures that both lenders and borrowers have a transparent common platform to make their decisions. We treat your data with the utmost confidentiality and will never share or sell it to anyone. Our dedicated and best-in-class customer service will go the extra mile to support you on every step of your credit journey. When you finance equipment, the item itself typically serves as collateral. This means that if you are unable to pay your loan, the lender can repossess your equipment. Typically, no additional collateral or personal guarantee is required, although some loans may require additional liens or personal guarantees.
Competitive Rates & Unparalleled Industry Expertise To Help You Grow
Trade association serving small and mid-size independent equipment finance companies, lessors and brokers. Investing in large capital expenditures often represents big financial risks, especially for small companies. Financing versus spending cash can help mitigate the uncertainty of investing in a capital asset. Loans and leases for small and mid-size businesses from $2,000 to $200,000, for computer, fitness, IT, medical, office and restaurant equipment. Loans and leases up to $500,000 for manufacturing equipment in woodworking, glass fabrication, injection molding and other related businesses.