Business Equipment Loans & Financing
You need equipment to run your business; find out why pursuing equipment loans can benefit your business.
What is an Equipment Loan?
An equipment loan is a type of loan intended to help businesses purchase necessary equipment for their business. Business equipment loans are used for any equipment needed to produce, manufacture or process products. They can be used for computers and technology supplies, special machinery, industrial equipment, and more. All of these materials help businesses operate at their best capacity.
How Equipment Loans Work
Loans are different than leasing when it comes to business equipment. Loans are best if you have a down payment to put down on equipment. They give businesses funds to replace old or broken equipment, buy new equipment for expansion, or add more items of the same kind to their equipment inventory.
How To Use a Business Equipment Loan
A loan for equipment can only be used for that purpose. These types of loans are not intended to alleviate cash flow problems, but to instead ensure that your equipment is always in working order.
Repairs
Repairing equipment is vital to keep your business flowing smoothly. A business loan for equipment will allow you to make critical repairs so you can keep your business running.
Upgrade
When you're ready to give up outdated gadgets and upgrade, equipment business loans give you the funding you need.
Lease
Equipment loans for small business will help you lease anything from copiers to manufacturing equipment.
Why Apply for an Equipment Loan?
Improve Your Business Operations
Business equipment loans give you the ability to help your business operation run more efficiently. It'll free up cash to be used in other areas of the company.
Ability to Repair Existing Equipment
Repairs are often more affordable than buying new. You can fund all of your repairs using equipment loans.
Purchase New Equipment
If the old isn't cutting it anymore, then a new piece of equipment is a must have. Small business equipment loans give you the opportunity to get something new.
Minimum Eligibility Requirements
You may qualify for a business equipment loan if you meet the minimum requirements below. Contact us to apply.
Better Your Business With Premier Lend Partner
Business Equipment Loans FAQ
You’ll need excellent credit to get equipment financing. Applying through an online financing company like Premier Lend Partner can help you discover what kinds of business equipment loans you can qualify for.
It depends on how much money you need and your qualifications. Businesses with good credit that have a good history are more likely to get equipment loans. It’s important to find out what lenders are looking for before you apply for a loan.
Yes, you can use the Section 179 tax deduction for equipment financing for your business. This write-off allows you to deduct the entire purchase price of the equipment you purchased in the qualifying year. A good accountant will ensure that all your expense are accounted for and deducted correctly.
Get Financing Today
Get started with your application and join Premier Lending Partner of forward-thinking businesses.
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