Equipment Financing explained
Equipment financing funds trucks, machinery, kitchen gear and other hard assets, usually with the equipment itself as collateral.
Term and structure depend on the asset, its useful life and the lender, so the numbers vary from deal to deal.
Is it right for a Longview business?
It depends on the business. Equipment Financing can fit some situations and be the wrong tool for others, and part of our job as a broker is to say so honestly.
We compare it against a term loan, a line of credit, equipment financing and an SBA loan before anyone commits.
What the cost depends on
Pricing and terms are set by the lender, not by us, and move with revenue, time in business and credit. We do not promise a rate or approval and we label any sample figure as an estimate.
Business purpose only
This is a business-purpose product offered through a broker. It is not a consumer loan and there is no APR promise or guaranteed approval.