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Equipment Loans

Equipment loans are loans that are specifically used to finance the purchase of equipment. This type of loan can be useful for businesses that need to purchase new equipment in order to expand or improve their operations, but do not have the upfront cash to do so. Equipment loans can provide the funds needed to purchase the equipment, allowing businesses to make the necessary investments without having to dip into their cash reserves.

Equipment loans are considered a type of commercial loan. They can be secured or unsecured, depending on your credit history and assets available as collateral. They also come with adjustable rates, which may be lower than what you would find with other types of loans. The average interest rate on an equipment loan is around 2-3 percent above the prime rate (which was at 3.25 percent as of June 2015). If you want to get an idea of how much money you could borrow for a specific piece of equipment, use our Equipment Loan Calculator to find out!

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Equipment loans are often referred to as "conduit" loans, because they allow companies to obtain capital that is then used to buy a piece of equipment. These types of loans are often arranged through leasing companies or banks, who then use their own assets as collateral for the loan in case it is not repaid by the borrower on time or in full.

There are several benefits associated with using an equipment loan as a source of financing. One advantage is that it allows businesses to avoid having their assets tied up in inventory while they wait for customers who may never come. In addition, this type of funding enables companies that might not qualify for traditional bank financing to get access to money they need quickly and easily.

Equipment Loans



Looking for lending in a state not listed? We do lend in other states on a case-by-case scenario. Give us a call to see what we can do for you.

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