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Understanding

Equipment Loans

Every business needs equipment, whether that means heavy-duty machinery or high-tech software. But for many small businesses, the steep cost of equipment puts it out of reach. Equipment financing makes it easier to manage the cost of equipment so companies can move forward and increase productivity.

Equipment loans enable business owners to manage the cost of equipment over time instead of committing a large chunk of capital at once. Then the business can start earning faster and boost production right away. Equipment leasing is a great solution to short-term equipment needs.

Business owners can use the equity in their existing equipment to pull in working capital. With a sale-leaseback, the equipment is sold to a buyer for a lump sum but stays in place. The previous owner can continue to use the equipment in exchange for monthly or quarterly payments. Ask our brokers which equipment financing option is right for you.

how to

Effectively Apply Funds

For long-term equipment needs (10 years or more), equipment loans are a valuable tool. They break down the high cost of equipment so your businesses can manage it in smaller payments. Why spend capital that could be leveraged for income-generating investments? Let those investments cover your equipment loan principal.

Short-term equipment needs (five or fewer years) are easily met with an equipment lease. Leasing lets you use the equipment without the hassle of repairs and maintenance responsibilities. You can also avoid paying interest on financing that exceeds the life of the equipment. Try before you buy so you can see if new equipment and technologies fit into your workflow.

Equipment Funding Options

SBA

The SBA provides equipment loans to American small businesses that provide jobs in their local economies. Loans come with a 10-year term and an SBA-capped interest rate. Choose a variable or fixed-rate equipment loan. Not sure which SBA loan to get? Talk to a qualified broker to find the best fit.

Hard Money

Hard money loans let you use the value of your company’s “hard” assets, like real estate and equipment, to fund major purchases. Secure a loan on your next equipment purchase or use the equity in existing equipment to buy new hardware and technology. See what your equipment assets can do for you today.

Leasing

Sometimes an equipment loan isn’t the best fit for your situation. If your equipment needs frequent upgrades or repairs, try leasing instead. When the lease is up, have the option to buy, renew, or cancel as your needs change. Find the best leasing deals for your business by speaking with a broker now.

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FAQS

Q. What is an equipment sale-leaseback?
In a sale-leaseback, you sell your equipment to a buyer who lets you keep the equipment in place. This lets you utilize your equity in the equipment to get a lump sum of capital. You continue to utilize the equipment for a monthly or quarterly fee. Ownership of the equipment changes, but the equipment’s location does not. For more about the types of leasebacks, consult with one of our professional brokers today.
Q. Should I choose a loan or a lease for my equipment?
In general, leasing is best when you intend to keep the equipment for just a few years. Most equipment loan terms are 10 years or longer, meaning you’ll pay on the loan for that period. Leasing lets you finance for just the time you’re using the equipment so you can avoid paying interest on equipment you no longer own.
Q. When is equipment financing not the best fit?
Sometimes you have expenses beyond your equipment needs. Most equipment loans only cover the cost of the equipment itself. If you need materials, supplies, or services in addition to new equipment, consider a working capital loan that covers all the costs under one loan. To learn more about working capital loans, speak with our qualified brokers.
Q. How do I find a lessor for business equipment?
If you’ve decided to lease business equipment, you’ll want to find the best deals in your area. Our brokers can show you how to leverage your equipment’s equity and connect you with a lessor who knows the market. We’ll help you work out a deal that best fits your needs.

Equipment Loan Advantages

Short or long-term financing

Leverage
equity

Low credit requirements

Fixed & variable loans available

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