Equipment Financing
Understanding Equipment Financing
LOAN AMOUNT
$5,000- $5,000,000
TIME TO FUND
As Fast As 24 Hours
LOAN TERMS
1-5 Years
INTEREST RATE
As Low as 7.5%
Minimum Requirements For Equipment Financing
If your business doesn’t match some of the qualifiers below, it may be more challenging
to receive funding from our lending partners.
CREDIT SCORE
650 or higher
ANNUAL REVENUE
$50,000+
TIME IN BUSINESS
12 Months
Equipment Financing Options For Nearly Every Industry
Need a new backhoe? Or a credit card processing app? Or, even a six-speed blender for all those sales guys on your team who do Crossfit after work and can’t seem to function without their morning protein smoothies? There’s a loan for that. Seriously. There are small business equipment financing options for nearly every industry and every kind of kooky apparatus you need – which means your wish list is probably covered.
How Equipment Financing Works
Equipment financing is a type of asset-based lending that helps business owners get the funding to purchase or lease equipment without depleting their working capital. Credit approval is more flexible with this type of commercial banking because the equipment is used as collateral to secure the financing. As a result for dollar amounts <$50,000 many lenders focus less on the profitability, revenue and overall cash flow of the business and more on the businesses & business owners credit score and how long they’ve been in business.
How To Apply For A Business Line Of Credit
1.
Fill out the 15-minute online application.
It’s secured with bank-grade encryption and SSL technology, so you know your information is safe.
2.
Receive matches.
We pair you with loan options from our network of 75+ lenders. Our dedicated fundingmanagers can help you weigh the pros and cons of each option.
3.
Get funded.
Once you’re approved, you’ll be able to access your capital in as little as 24 hours.