EQUIPMENT
LOANS
What is an Equipment Loan?
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Equipment loans are loans to buy business equipment. Businesses will often have the need to purchase, replace, repair, or upgrade various kinds of equipment to process, manufacture, or produce their product. Equipment can include such things as medical and dental medical machinery; restaurant ovens, cookware, tables and chairs, linens, and catering supplies; phone systems; computer monitors, printers, copiers; furniture, tools, vehicles (for commercial use), specialized machinery, industrial equipment, and more. All of this equipment is essential for your business to run at maximum efficiency and maximum productivity. But what do you do when your equipment is old, worn, and needs to be replaced? Often you have the choice to either purchase new equipment outright or lease.
Equipment Loans
Each lender will have different terms, but in general, with a loan, you can finance around 80% of the total purchase price of the item. When choosing to buy your equipment and finance through a loan, you own the item from day one. A down payment of around 20% is generally required for most small business equipment loans. The collateral for the loan is the item or items you purchase with the equipment loan.
How to Get Business Equipment Loans
Excellent credit is required for most equipment loans. After all, it’s an investment in your business and in your business’ growth and revenues. You may want to consider applying for a loan at the bank with whom you currently do most of your business. Or you may want to consider a nontraditional lender such as Sure Foundation Services, an online lender which offers assistance for small and online business owners in need of fast access to capital to grow their business. Business loans offered through Sure Foundation Services – sometimes referred to as Sure Foundation Services lines of credit – may be an option. A business loan gives businesses upfront cash in exchange for a percentage or a portion of future credit card sales.
FUNDING IN AS LITTLE AS 24 HOURS
Complete a funding request form within minutes. Once your application is approved, your funds are released within 24 -72 hrs Depending on loan type.
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PERSONALIZED SERVICE
Our dedicated team is here to guide you through the entire process and answer any questions you might have. We are committed to helping you get the best funding solution for your business.
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