Equipment Financing

 Often, new business owners use up the majority of their capital on equipment, not realizing that leasing is a cheaper alternative. Some business owners are only looking for a temporary solution, so they choose to lease instead of buying. Others lease the machinery because they don’t have the capital to buy it outright.

When you lease a piece of machinery, you are renting it just like you would rent an apartment. That means that you will only be able to use the equipment while you’re paying for it. The main advantages, of leasing the equipment, are that you don’t need to put any money down or collateral. On the other hand, leasing the equipment could end up being more expensive than just purchasing it outright. Do not deplete your business’ bank account, instead, partner with us and allow us to finance your next piece of equipment. Discover the tangible benefits of your new equipment purchase while maintaining guaranteed low payments through our lease program.

When you decide that it is time to purchase equipment for your business, you should ask yourself three questions.

1. What type of equipment do you need?
2. How much is it going to cost?
3. How are you going to pay for the equipment?

• ✔Quick approval
• ✔The equipment acts as strong collateral
• ✔You’ll own the equipment at the end loan term
• ✔You can save money on your business tax return under Section 179 of the IRS
• ✔You won’t have to wait until you have the capital on-hand to purchase the equipment

• ✘Most equipment loan applications will require an equipment quote
• ✘If the equipment depreciates, you can’t deduct the full cost each year
• ✘Not available to startups