It’s no secret that buying quality commercial equipment is expensive. If you’re a small business owner, you likely can’t afford to pay out of pocket to get the equipment your business needs to thrive. That’s why we’re here.
At First Capital Business Finance, we understand the needs and challenges of small business owners looking to purchase the right equipment to get the job done for their business. For this reason, we offer loans to cover all your equipment financing needs, no matter what type of business you run.
Here at First Capital, we offer business equipment finance services for just about every industry, including:
- Commercial and semi-truck financing.
- Restaurant equipment financing.
- Medical equipment financing.
- Woodworking equipment financing.
- Auto shop equipment financing and leasing.
- Used equipment financing.
However, before getting started, you may have some questions about business equipment financing, what it involves, and how we can help. We’ve put together this FAQ guide to answer all of your most pressing questions about business equipment financing. Use this guide to learn the basics. Then, let us help you access the capital you need to finance your business equipment today.
What Is Equipment Financing?
Equipment financing is a type of loan that business owners use to cover the expenses of purchasing equipment for their enterprises. This can include anything from an industrial oven for your bakery to office furniture for your accountant to long-haul commercial semi trucks to move your products all across the country. When you take out a business equipment loan, you get a lump sum of cash you can use to cover the cost of purchasing supplies for your company, which you then pay back over time.
Is It Hard To Get Equipment Financing?
When you apply for business equipment loans through a bank or other lending service, you can face challenges like lengthy application and approval processes or excessive red tape. First Capital Business Finance makes it easy to get a loan to fund your business equipment purchases. At our company, we don’t hold poor credit or previous bankruptcies against you. Not even a previous repossession will disqualify you from getting financing at First Capital. In fact, many business owners choose us for their business equipment finance service needs because we:
- Won’t deny you because of bad credit or previous bankruptcy, we find solutions.
- Don’t require additional collateral for most of our programs.
- Require minimal paperwork.
- Grant approvals within 48 hours of application.
- Offer flexible terms up to 60 months.
- Provide tax-deductible interest. (speak to your tax advisor)
- Offer exceptional customer service.
This means the process for getting a business equipment loan through First Capital is easy. You won’t have to trudge through endless paperwork only to find out you don’t qualify. Getting the cash you need fast to buy equipment for your business means you don’t have to wait around, wasting valuable time your business could use to serve its customers.
What Can You Use Equipment Finance Services For?
At First Capital Finance, you can get financing for a wide range of business equipment. To name a few, we offer equipment financing for:
- Commercial trucks.
- Heavy equipment and construction equipment.
- Plumbing equipment.
- Restaurant equipment.
- Hospitality equipment.
- Medical equipment.
- Forestry equipment.
And niche materials, like 3D printers and woodworking equipment.
We also finance used equipment. This means you don’t have to buy something brand new to qualify for a loan. Whether you’re looking to equip your business with state-of-the-art materials, packed with all the newest technology, or just want to purchase something gently used to get the job done, we’ve got you covered.
Don’t see what you need on this list? Don’t worry! Just give us a call and talk to one of our professionals about what you need. We’re prepared to finance just about any business-related equipment under the sun, so don’t be shy about telling us what you need. Our financing professionals are happy to help.
How Long Can I Finance Equipment?
How long you can finance equipment depends on your financing program. Our programs for equipment finance services offer terms that range from 24 to 60 months. This aligns with most other financing and loan providers, who tend to offer financing terms that average from two to five years. To learn more about your options for financing terms, speak with one of our representatives today.
Those are the answers to some of the most frequently asked questions about business equipment financing. Need more information? We’ve got you covered. Contact us today with all your questions. We’re happy to address your concerns and provide information about your business loan needs.