What is Equipment Financing
The Fundamentals of Financing Business Equipment
HOW DOES EQUIPMENT FINANCING WORK?
The equipment itself is considered to be the collateral, which means you don’t have to come up with your own collateral in order to secure the loan. You’ll be provided with a lump sum of money to pay for the equipment, which you then promise to pay back in addition to a set interest rate. This fixed term length means your monthly payments will always be the same.
The length of the loan term will depend on the type of equipment you need, how much it costs, and its expected lifespan. With equipment financing, you own the equipment once you’ve paid off your loan.
Financing equipment means, you’ll never have to pay the full cost of the equipment upfront. Instead, you can spread out the cost of the equipment over a certain period of time, making payments much more manageable.
QUALIFYING FOR EQUIPMENT FINANCING IS SIMPLE!
Just about any business can qualify for equipment financing. You don’t have to have perfect credit, nor any collateral. Our application process is quick and easy.
Within a matter of 48 hours, you can have access to the funds you need to buy necessary equipment to keep your business in operation.
The need to keep up with adding, replacing and repairing your equipment can get really expensive. At Envision Capital Group, our business funding solutions give you the ability to buy the equipment you need with payback options you can afford.
APPLY TODAY to find out just how easy it is.