What is Equipment Financing?

Equipment financing helps you finance up to 100% of the new or used equipment you need for your business. Applying for an equipment loan is typically a fast and easy way to finance the purchase of most types of equipment—computers, machinery, vehicles, or whatever else you need.

Maximum Loan Amount  Up to 100% of equipment value

Loan Term Expected Life of Equipment

Interest Rates 8 – 30%

Speed As fast as 2 days

Pros

  • Quick access to cash

  • Limited paperwork

  • Equipment serves as collateral

Cons

  • Equipment could be obsolete by the time the loan is fully repaid

  • Might need to depreciate equipment, so you can’t deduct full cost each year