Equipment Financing
How it works
The lender pays the vendor and you repay over a term that roughly matches the useful life of the equipment. Because the equipment secures the loan, approval can be faster and require less additional collateral.
Who it's best for
- Contractors and construction companies
- Manufacturing, medical and transportation businesses
- Preserving cash for operations
What lenders look at
- Business credit and time in business
- Equipment type and resale value
- Cash flow to cover payments
- Vendor quote