Frequently Asked Questions

Have questions about equipment financing? Our FAQs address common concerns about equipment loans and leases, simplifying the process for your business.

Requests under $250,000 are approved within 1-2 workdays after receiving our Credit Application, 3 current months' business bank statements, and vendor proposal. The "App Only" process can take 1 week. Requests over $250,000 require 3-5 days depending on the complexity of the financial statements. Upon approval a term sheet is offered and then a finance agreement is sent directly to the customer. Once the agreement is signed and returned, the vendor is funded. The entire process typically takes 1-2 weeks.

Have all your financial documents organized in a PDF format and ready to submit. For finances over $250,000, the basic package includes 3 years of tax returns (personal & business), 3 current months' business bank statements and financial statements, debt schedule and current balance sheet and income statements. We provide you with a detailed list.

Yes, we finance all types of used equipment. The equipment can be purchased from an equipment vendor or a private party. Typically, used equipment can be financed up to 36 months maximum.

There are a variety of end of term options available depending on the type of business finance you have. These include Fair Market Value (FMV or Operating lease), $1.00 Buyout (Equipment Lease) and other Fixed Purchase Options (10% or 20% Buyout) or full payout business loan. You follow your end of finance instructions on your agreement. All business lending agreements have very specific details on how to buy out or return the equipment.

Interest rates or money factors are based on the company's credit history and rating, time in business, equipment cost, finance term and structure. With small businesses, the credit of the owner(s) will play a critical part in the overall interest rate. The rate will depend on the risk, which is assessed for each business entity. Bottom line: riskier business models or companies pay higher rates.

The IRS generally allows 100% write-off of your lease payment if the lease structure is within their guidelines. We recommend consulting with your tax advisor since laws change periodically. In general, FMV leases qualify.

Your payments are fixed throughout the finance or lease. No balloon or larger amount payments are part of a standard finance. Final buyout payments can vary depending on the type of finance structure you select.

$20,000 is the minimum we require. On the upper end, we can fund multi-million-dollar projects as well.

We finance start-up businesses if the owner has experience in the industry. After 2 years of being established with a proven track record, lower rates will be available. The best terms are offered to established companies with 5+ years in business.

We provide 100% financing. Although custom payment plans are available, we typically require only one or two payments in advance when documents are signed. You can always make a larger down payment to minimize the monthly expense if desired. 100% financing means taxes, installation and set-up costs can be included in your finance total.

Yes! Some finance agents work specifically for one lender, like local banks, which limits their access to the most current programs. The same is true of some equipment vendors, which offer leasing to their customers; they work with one lender that can limit a customer's options. A finance company which contracts with many lenders can consistently offer you the most competitive financing for your project.

Still have questions?

Our team is ready to walk you through every step of the equipment financing process — quick, easy, and stress-free.

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