Simple Equipment Financing
1
How funding works
- A lien is placed on equipment you already own to obtain funds for any business purpose
- A lien is placed on equipment you intend to buy to secure funding for its purchase
2
Rates are based on
- The equipment’s age and condition
- How marketable or re-sellable the equipment is
- Your credit history
- Your ability to repay the loan
3
Ask Yourself
- Do you have any valuable equipment?
- What is its age and condition?
- Are you looking to purchase any valuable equipment?
- Is the equipment semi-liquid and ready for resale?
4
Required documents
- Year-to-date bank statements and financials
- Past two years of tax returns
- Debt schedule
- Equipment appraisal documentation
5
Good to know
- Finance up to 100% of the equipment’s value
- Tax savings, first-year depreciation, and deductions may apply
- Leases can be structured for cash-flow friendly payments