Equipment Financing Explained

Whether you own a new or existing business, the tendency is often to purchase needed equipment outright. But the truth is that it’s much easier to get equipment financing than it is working capital, especially for new businesses (yes, new businesses CAN get equipment financing). 

So before you go and tie up all your cash, consider equipment financing! If you're wonding what types of equipment can be financed, read on. Toward the bottom of the page you'll see a list with a few examples of some of the categories. Don't hesitate to call (310) 536-0046 with any questions.

Equipment financing runs the gamut. It could be as low as $10,000 or up to $1,000,000+. How much a business ultimately qualifies for depends on a number of factors, including the income of the business and the credit of the borrower/s. The newer the business the more the underwriter will look to the borrower’s strength.

If you purchased the equipment in the last 90 days or so, and would like to recuperate the cash you spent on it, you may qualify for a 'buy-back', as long as you have the original invoice/s for the equipment. 

How does a buy-back work? It's simple. The equipment finance company buys the equipment [back] from you and then finances it for you just like it would have if it was financing your purchase from a store.

It’s a good idea to start doing your homework as soon as you realize that you need to acquire equipment or furniture for your business. Compare pricing, model numbers, etc. to determine what you want to buy, and then get quotes. Make sure that the quotes are made out to your company, as you will need to submit them with your application for financing.

Even previously-owned or used equipment can be financed!  That's right! The equipment does not have to be new; it just needs to be new to you. Again, get all quotes in writing. 

The list of equipment and furniture types that can be financed for businesses is almost endless. Here are just a few examples:

Aerospace machining equipment

Bulldozers

Commercial kitchen equipment

Commercial printing equipment

Construction equipment

Cranes

Dental equipment

Electronics

Espresso machines

Excavators

Logging harvesters

Manufacturing equipment

Medical / dental equipment

Office equipment

Office furniture

Restaurant equipment / furniture

Storage containers

Tractors

Trailers

Trucks

We are here to help!

Call us at (310) 536-0046 (Pacific time)

Email us at info@sbpiservices.com

Or fill out the form accessible from the home page of this website, and we'll get back to you as soon as we can.