Upgrade your business
Equipment Financing
Secured on what it buys, which is why the terms are better and why “no collateral” has never applied to it.
- What is pledged
- The equipment itself
- What credit is asked
- 650 or higher
- How long you must have traded
- 12 months
- What revenue is asked
- $50,000 a year
- What it may be spent on
- The equipment
- How it comes back
- Over the equipment's life
Equipment financing
What a equipment is, from this office's own page
Most owners hear equipment financing and picture tractors and backhoes. Construction plant is certainly financeable, and so is nearly everything else a business runs on — tools, vehicles, refrigeration, ovens, servers, medical devices. Big or small, there is an option covering it.
Qualifying usually asks for at least 12 months in business, $50,000 or more in annual revenue and a credit score of 650 or higher. Below 650, three to six months of proven cash flow and revenue can still make the case. Exact qualifications vary by lender and by the equipment itself.
What it costs depends on four things: the loan amount, the rate, the term and the collateral — and the collateral is the equipment. That security is the reason this programme's terms are better than an unsecured loan of the same size, and the reason it is the one place on this site where something is always pledged.
What holds
Where the banner is true of this one
- How long you must have traded: 12 months
- What revenue is asked: $50,000 a year
- How it comes back: Over the equipment's life
The application
Get your loan offer
One application reaches the whole network and qualifies you for all six programmes. There is no application fee, no cost to apply and no obligation to take anything that comes back.
Rather talk to somebody first? (866) 221-4074.
The grid
Its column, beside the other five
| What differs | Business Term Loan | Business Line of Credit | Short-Term Business Loan | Working Capital Loans | Equipment Financing | Business Cash Advance |
|---|---|---|---|---|---|---|
| What is pledgedThe banner says No Collateral. One of the six is secured on a thing, two more may ask. | Not stated | A personal guarantee may be asked | Collateral may be asked | Nothing | The equipment itself | Nothing |
| What credit is askedThe banner says Bad Credit is Ok. Two of the six publish a floor and two more want “solid credit”. | Not stated | 560 or higher | “Solid credit” | “Solid credit” | 650 or higher | Lenient — it leans on takings |
| How long you must have tradedThe widest spread here: six months for one programme, two years for two others. | Not stated | 6 months | 2 years | 2 years | 12 months | Not stated |
| What revenue is askedTwo of the six publish a revenue floor. Four say nothing about it at all. | Not stated | $50,000 a year | Not stated | Not stated | $50,000 a year | Not stated |
| What it may be spent onThe banner says No Restrictions. Five are open; one buys a specific thing, which is the point of it. | A major capital investment | Almost any business need | Costs, slumps, short projects | Growth, and day-to-day | The equipment | Not stated |
| How it comes backThe one figure block gives all six a 12-36 month term. Two of them have no term in that sense at all. | Fixed rate, fixed period | Revolving — interest on what is drawn | Like a term loan, compressed | Short-term | Over the equipment's life | Out of future earnings |