Up to 100% of asset value
If business is picking up, you might need to purchase new equipment to expand your operating capacity and increase revenue. But let's say your credit is less than stellar.
How can you finance this equipment and grow your business?
Utilizing Equipment Financing gives you the ability to purchase most types of equipment. Vehicles, Technology and everything else your business might need.
What you qualify for is based on the kind of equipment you're purchasing and its condition because it serves to collateralize the loan.
How long this financing is extended to you depends on the kind of equipment being financed and its predicted useful lifetime.
Logically, the term cannot be longer than when the equipment is predicted to be no longer be valuable.
There are benefits to leasing, but with an equipment loan, the asset will belong to you after the loan is repaid.
A lease only affords you use of the equipment while paying on the lease.
If you're planning to use the equipment for a long time, financing is the right move. However, if it is for temporary use, a lease is a great short-term option.
It's risk and cost free - prequalify without affecting your credit!