New Tech & Equipment

There’s never a good time to be without the equipment your business needs to keep running. Repair, replace, upgrade, and manage your equipment assets with our financial tools.

No matter what business you’re in, chances are you can’t operate without some type of equipment. When the tractors, processors, presses, and software you depend on need to be replaced, you can’t afford to put your business on hold. An equipment loan can help get you up and running again in no time. Buy, lease, or sell your business’s equipment with our expert financial solutions.

Have equipment but short on cash? Leverage your assets to get working capital. The value of your equipment can secure a hard money loan. You can also sell it and then immediately lease it from the buyer,(called a “sale-leaseback agreement”) allowing you to keep the equipment in place and get cash for it at the same time.

Solutions

Equipment Loans

Purchase equipment with funds secured by the asset itself. The best equipment financing won’t require you to leverage your existing assets

• Loans can close the same day
• Choose from a range of financing options
• Protect existing assets
• Maintain cash reserves and pay down the equipment over time

Requirements: Approvals can be credit or cash-flow based. The equipment or technology must be eligible for financing. A down payment of 20% or greater is beneficial for any producer.

Equipment Lease

For businesses that have fluctuating demand or that are in industries with high technological turnover, leasing may be a better option.

• Choose your lease term
• Leases available in all industries
• Renew the lease or upgrade to new equipment at the end of the term
• Many providers allow lease to purchase with reasonable rates

Requirements: Business owners will create a use case and demonstrate ability to pay either through existing or contracts contingent on the ability to produce.

Sale-Leaseback

Recapitalize your business with a sale-leaseback. Owners of high-value equipment can sell the asset to a lessor and pay a reasonable monthly payment, removing responsibility for upkeep and maintenance while retaining use of the equipment.

• Access cash for working capital or a down payment on a new asset
• Seamlessly transition from owning to leasing
• Clear maintenance and repair from your budget for that equipment
• Create a smooth transition to new equipment as you move existing assets out the door

Requirements: Lessors will assess the equipment for condition and usability. We will work as an intermediary to negotiate rates.

SBA 7(a) and 504 Loans

The SBA backs private loans to provide access to technology. With an interest in improving technology, efficiency, and access to data, the SBA is an important resource for the right business owner.

• Interest rates vary, but are capped by the SBA
• Borrow up to $5m in either the 7(a) or 504 program
• Repayment up to 20 or 25 years, creates manageable payments
• Borrow again so long as your business remains in good standing

Requirements: SBA loans are for businesses under 500 employees that earn less than $5m per year and have a total of less than $15m. In addition, the SBA lends to businesses that can demonstrate they can increase the workforce or retain employees that would otherwise be lost without the financing.

How It Works:

Equipment financing starts with an assessment of business need. Then the equipment is evaluated for life span and value. Lastly, your business will demonstrate ability to pay. Let’s start a conversation to see what’s available to you.

Step 1:

Get assigned to a dedicated broker.

Step. 2:

Choose suitable terms and options.

Step 3:

Receive Funding.

Apply Now

Alternatives:

If Equipment Financing isn’t what you’re looking for, try:

Hard Money Loans

Some businesses are rich in assets, but low on liquid cash. That can make covering urgent expenses or funding big projects a challenge. When you need a lump sum quickly, you can use your hard assets to secure financing. A lender provides a percentage of what your equipment or real estate is worth. You still own the assets and can continue to use them.

Bridge Loans

Obtaining traditional financing can be a long process. There are forms to fill out, credit to be checked, and a lot of waiting in between. Even once you’re approved, it can take a while before funds are available. If you have an immediate need, you can’t afford to wait. The solution is a bridge loan that helps you bridge the gap until long-term financing is available.