The Difference Between Equipment Financing and Traditional Financing
| Equipment Financing | Traditional Loans | |
| Same-day Credit Approval | Yes | No |
| Ability to Finance Used Equipment | Yes | No |
| No Down Payment | Yes | No |
| Tax Benefits | Yes | No |
| No Additional Collateral is Needed | Yes | No |
| Soft Cost can be Financed (Installation and Delivery) | Yes | No |
| Funding within 24-72 hours | Yes | No |
| Application Only Programs | Yes | No |
| Limited Fees and Cost | Yes | No |
| Financing Troubled Credit | Yes | No |
| Payment Deferrals | Yes | No |
| Ability to Maintain Credit Lines | Yes | No |
| 100% Financing | Yes | No |
| 24 Hour Approvals | Yes | No |
| 2-5 Year Terms (up to 84 months in some cases) | Yes | No |
| Doesn’t add additional personal debt (Report to business bureaus only) | Yes | No |
Types of Equipment We Finance
Below is a brief overview of some of the industries/types of equipment we finance. However, we can provide equipment financing solutions for virtually all types of equipment.
Heavy Machinery- Medical
- Manufacturing
- Welding/Medal Fabrication
- Signage
- Information Technology
- Landscaping Equipment
- Waste Removal
- Trucking
- Vending
- Surveillance/Security
- Logging Equipment
- CNC Equipment
- Agricultural Equipment
Not Just a Number
Unlike other financing options and finance companies. We do not look at your credit score exclusively when making a credit decision. We look at your overall credit history, business credit, time in business, years of experiences, payment history, and other considerations.
Interest Rate?!?!
Equipment financing is different than other types of financing. The payments are not comprised of principle and interest. Instead, monthly payments are based upon monthly payment factors (which are based upon risk). The financing charges are built directly into the payment which is determined on a case-by-case basis. The monthly payments are fixed and do not fluctuate.
Early Payoffs?
Early payoff is based upon the remaining stream of payments discounted at nominal percentage. You can always pay more than the monthly payment. This will be applied to the outstanding balance of the agreement.