As a business owner, eventually you will need to either upgrade or replace existing equipment to operate on day-to-day basis. Maintaining well-functioning equipment can cost a lot less with an equipment financing loan. Designed specifically for businesses to make the necessary purchases under manageable conditions and terms. Relinquishing savings or spending part of profits for equipment is an excessive expense, and risky if the business is short on funds.
Access to Equipment Financing Helps
- Purchase New Equipment
- Upgrade or Replace existing equipment/machinery.
- Repair damaged equipment
Benefits of Equipment Loan Financing
Simple & Expedited Approval Process – Granting access to funds is faster via online rather than going through a traditional bank. Typically, it takes 3-5 business days to receive funds applying online.
Protects Current Cash Flow – With a low, and some cases no down-payment, you can use existing finances for other needs.
Flexible Payment Options –Various payment options such as monthly, quarterly, bi-annual and annual repayment terms – work with your lender to determine what is best for your business needs.
Tax Deduction – IRS tax code Section 179 was created to encourage equipment purchase for business operations. Allowing businesses deduct the full purchase price of equipment from your gross income.
Contribution to Business Assets – Using the help of the loan, you will add to your business assets, making it a long-term investment.
Credit Improvement – Consistent payments made will positively impact your business credit score.
- Transportation (Any business vehicles)
- Manufacturing (Machinery)
- Healthcare (Any medical equipment)
- Restaurant (Ovens, ranges)
- IT (Servers & software)
Apply Online to Obtain Quick Equipment Financing for Your Business
Deficiency of cash does not have to be an overwhelming or long-term problem. During these times, planning is not that simple, not to mention finding alternative sources of business financing. As a business owner who is concerned about receiving funds quickly can learn how to get an equipment loan with FundTru, with funding within 3-5 business days.