Equipment Financing
Gain access to the equipment you need to grow and thrive through equipment financing, leases, and sale leasebacks among others.
Equipment Financing
For many companies, their success or failure lies in the type of equipment they use. Some businesses have to maintain a fleet of vehicles to serve their customers. Other enterprises might have to invest in high-tech machinery to deliver the best products or services.
If equipment is the lifeblood of your business, you need to get the right kind of financing. A generic business loan won’t be the best option because you’ll be tied to high interest rates and an extended repayment plan. Instead, we can help you find equipment-based financing that will leverage the machinery itself to cover the loan. Call us today to find out more about how these programs work and how they could help your business.
Equipment Leasing
In many cases, buying machinery outright may not make the most financial sense. Because equipment depreciates over time, purchasing it means that you’re liable for maintenance and upkeep. In these instances, it can be much better to lease rather than buy.
Equipment leasing comes with a host of benefits, and we can put you in touch with the top leasing companies. First, you don’t have to pay out of pocket for routine maintenance. Second, you can upgrade to new machinery at the end of the lease. Finally, the short-term costs will be cheaper for your company, freeing up more cash for other operational expenses. No matter what kind of equipment you need, we can help you get it.
Equipment Sale Leaseback
While leasing new machinery can be beneficial, what if you already own the equipment? In that case, you can do a lease buyback. In this case, you will sell the item(s) to a leasing company, who will then lease it directly to you for a monthly rate.
Lease buybacks are an excellent way to free up cash for your business in the short term. Because you’re now locked into a multi-year lease, you get to keep the money from the initial sale. You can use these funds to buy new equipment or maintain operational efficiency. Best of all, once the lease expires, you can upgrade to new machinery to boost your business.
Equipment Refinancing
Although business loans are an essential part of running your company, they can be costly over the long term. For example, if you took out an equipment loan when starting your business, the interest rates and repayment plan likely weren’t in your favor. However, now that you have more sales and more reliable credit history, you can get better terms on a new loan.
If you’re paying too much interest or need more time to pay off your original debt, now might be the best time for equipment refinancing. You can renegotiate the terms of the loan so that they help your bottom line a lot more. We can assist you by finding the right lenders and conditions for your needs.
Hard Money Equipment Loans
Depending on your industry, you might have to take advantage of deals quickly. Unfortunately, most financing options can be notoriously slow, which can put you in a bind. If you need fast cash and approval, a hard money equipment loan may be the answer.
These loans work by leveraging the value of your current equipment or property. In most cases, you can get approved for up to 75-percent of the appraised worth of the item, even if you don’t own it outright. From there, the loan repayments are interest-only, with a balloon payment at the end. Because of how hard money loans are structured, they are best-suited for bridge financing while you secure a profitable deal or long-term funding.
Schedule a Consultation
With lenders ready to work with you and with loan amounts from $5,000 to $5 million +, there's no reason not to start a conversation or to pre-apply to see for what loans you could qualify. We work with businesses in every industry and at every stage in the life of your business.
