Equipment Leasing & Financing
What Kind of Equipment Can Be Leased or Financed?
Specialized machinery
Industrial Equipment
Construction Equipment
Medical and Dental Equipment
Restaurant Ovens, Stoves & Dishwashers
Medical and Dental Equipment
Restaurant Ovens, Stoves & Dishwashers
Cookware & Catering Supplies
Tables & Chairs
Phone systems
Phone systems
Computer Monitors, Printers $ Copiers
Office furniture
Commercial Vehicles and More.
Office furniture
Commercial Vehicles and More.
Up To $500,000
2 to 6-year
Terms
6.99-29.99 APR
2 to 6-year
Terms
6.99-29.99 APR
6.99-29.99 APR
Many businesses need capital to buy or lease equipment, but they often can’t qualify for financing with traditional banks thus turning to alternative equipment financing companies. These types of lenders typically have less-stringent requirements in terms of credit ratings and documentation than traditional lenders.
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.
The Perks of Equipment Financing
Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. That means that if you buy or finance a piece of qualifying equipment, you can deduct the FULL PURCHASE PRICE from your gross income. It’s an incentive created by the U.S. government to encourage businesses to buy equipment and invest in themselves. Lease payments appear as an expense deduction on your taxes.
Equipment Leasing
Leasing typically does not require a down payment. This is especially beneficial for those businesses with little to no available capital. If a down payment is required, it is typically relatively small compared to what a traditional loan down payment would look like.
With a lease, you can finance around 100% of the cost of the item or items plus around 20 – 25% taxes or delivery charges. You can return the item at the end of the lease or you have the option to purchase it for a small amount once the principal of the loan has been paid in full.
With a lease, you can finance around 100% of the cost of the item or items plus around 20 – 25% taxes or delivery charges. You can return the item at the end of the lease or you have the option to purchase it for a small amount once the principal of the loan has been paid in full.
Equipment Financing Questionnaire
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