Equipment Financing
Equipment financing helps a business acquire assets it needs to operate or grow while preserving some working cash. Terms differ by asset type, age, useful life, business financials, and lender, so the payment alone does not tell the whole story.
What to explore
- Finance eligible new or used equipment
- Potential terms tied to the asset's useful life
- Preserve cash for payroll and operating costs
- Compare equipment loans with SBA and other business financing
Match the financing to the asset
Lenders may finance machinery, commercial vehicles, medical or restaurant equipment, and other eligible assets. They review invoices, seller information, condition, remaining useful life, and resale value. Some costs such as installation or delivery may be financeable, depending on the program.
Compare total cost and flexibility
Look at the down payment, interest or financing charge, fees, repayment term, security interest, insurance requirements, and any payoff restrictions. A lower monthly payment can mean a higher total cost when the term is longer.
Consider broader business needs
If you also need real estate or working capital, an SBA or other business loan may package eligible uses differently. MyLoanDesk can compare available structures against the asset purchase and your cash-flow goals.
Common questions
Can used equipment be financed?
Some lenders accept used equipment after reviewing its age, condition, value, and remaining useful life.
Is a personal guarantee required?
It depends on the lender and business profile. Review guarantee and collateral terms before committing.
Compare your options
Tell us about your goals and we can review financing options available for your situation. All loans are subject to lender eligibility and approval.
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