Equipment Financing Explained
These can include lenders who specialize in equipment financing, your bank, lenders who will work with the vendor and even alternative lenders. If you want to save money on this financing type, shop around for the lowest cost lender.
Best Ways to use Equipment Financing:
-Financing for new equipment
-Equipment based business start can use their equipment as collateral
Advantages of Equipment Financing:
-Below average APR
– Monthly payments don’t change
– A great way to build your business credit
– Equipment can be used as collateral
Disadvantages of Equipment Financing:
-Down payment may be a large percentage of loan
– Must have excellent credit to get good terms
– Equipment can become outdated before it is ever paid off
Apply For Equipment Financing CLICK HERE
Pay careful attention to recommendations posted on the “Learn More” link before you apply.