What is Equipment Financing?
Equipment financing is a type of financing used by companies to purchase business-related equipment. Through equipment leasing or equipment financing, businesses can acquire these assets without having to pay large amounts of cash out of pocket, ultimately freeing up working capital for the business.
To learn more about equipment financing and how it may help with your business needs complete a simple online application to speak with a business financing advisor.
What is Equipment Lease Financing?
Equipment lease financing is similar to equipment financing except when leasing, you are technically paying the equipment’s owner to rent it each month. At the end of the leasing period, you can opt for a buyout and purchase the equipment or end the leasing contract. Keep in mind, a disadvantage of renting equipment without the prospect of owning it may be expensive in the long run.
Is equipment lease financing the right solution for your business need? Complete a simple online application to learn more.
How Does Equipment Financing Work?
The term equipment financing refers to a loan used to purchase business equipment. With equipment financing, instead of using your working capital to buy the qualifying equipment, you can finance the entire cost of the equipment and repay the interest and principal over a fixed period of time. Once the payback period is complete, you will own the piece of equipment outright.
To learn more about how equipment financing works, complete a simple online application to speak with a business financing advisor.
How to Finance Heavy Equipment
Similar to equipment financing, heavy equipment loans allow businesses to borrow money to purchase large pieces of machinery such as, forklifts, cranes, bulldozers, or other large machinery you need a license or special training to operate. Financing heavy equipment helps free up businesses cash flow while giving you the ability to continue to serve your customers.
Looking for heavy equipment financing? Explore your options by completing a simple online application to speak with a business financing advisor.