Our equipment finance specialists are experts in the industry and are ready to design specific financing plans that take into consideration your specific needs. We’re ready to partner with your business on a wide variety of equipment purchased and leases. Funding amounts range from $50K – $50MM, with packages customized to each company’s unique needs. Our funding timeline for equipment financing is also highly flexible, with approval often happening within two to three days.
Equipment loans allow you to finance the equipment your company needs in order to do business. This allows you to get ownership of your equipment today, use it to generate revenue tomorrow, and then pay for the equipment with the income you generated. Many companies would be unable to deliver their products or services without this financing.
A significant benefit of equipment purchase loans is that many times – and for all non-recourse financing – there is no collateral required. The equipment you are purchasing serves as the collateral for the loan, which makes this financial vehicle perfect for small business owners who have been denied for a business loan from another lender. In addition, equipment loans tend to be much faster than many other asset based loans, allowing companies to move quickly on getting the trucks, computers, and other equipment that they need to keep their doors open.
Leasing can be a great solution to enhance a company’s liquidity, help manage cash flow, and optimize your balance sheet. We offer a variety of leasing options, including True Lease or Fair Market Value (FMV) Leases, Early Buy-Out Leases, Terminal Rental Adjustment Clause (TRAC) Leases, and Rebate Leases.
While it isn’t right for all businesses, leasing can have a number of benefits over purchasing your equipment directly. True leases avoid any down payments by financing 100% of the equipment. Leasing also uses the equipment itself as collateral for the financing, thereby eliminating the need to put additional personal or business assets on the line. Finally, leasing significantly decreases a company’s risk exposure. Businesses no longer need to worry about non-functioning equipment, and when the lease ends they are not stuck obsolete equipment that is difficult to sell.
Equipment Sale Leasebacks
A sale with leaseback loan can be the perfect financial vehicle for companies that need to receive funding quickly. If your company owns equipment (such as vehicles, heavy machinery, manufacturing tools, and so on), then you can use these assets get financing in days.
Cash through an equipment sale leaseback comes much more quickly than searching for a buyer to purchase your equipment outright. Most importantly, this approach allows your business to continue using the equipment in its daily operations. While you sell the title to the equipment and receive immediate cash from the sale, your business still retains the full right to continue using the equipment through an ongoing rental agreement. This approach combines all the advantages of funding speed with longer terms, low payment options, and lower rates.
Refinancing equipment that is currently owned can provide lower rates or better terms. In addition, refinancing equipment can also improve cashflow and finance other projects or purchases. Loans will be calculated based on the value and condition of the equipment that a business currently owns and are typically 12 months in length. The company still owns the equipment, as it is used as collateral only if the account goes into default. As a result, they can continue to use it as they normally would in the course of their business.
Hard Money Equipment Loans
A hard money loan is typically a few months to a few years in length and is secured by real property such as equipment or machinery. A hard money loan is most effectively used to provide temporary funding to help with a financial situation or while a business is waiting for long-term financing to be approved.
Many times a hard money loan can be acquired even if money is still owed on the property or equipment. Funding is usually up to 75% of the value of owned property and can be used for most business operations including the purchase of new equipment, employee wages, inventory, and construction projects. Payment for hard money loans is usually only the interest on the loan, with the final balance due at the end of the term typically in the form of a balloon payment.