Category Archives for Equipment Financing

Equipment financing is a loan used for purchasing hard assets for a business. It works for businesses that can’t afford to buy expensive assets upfront. Also, if a company needs to replace its equipment frequently, it needs equipment finance or leasing to keep the business running. Leasing needs a small monthly payment over a multi-year period to use the equipment.

The Working of Equipment Financing:

Equipment finance includes a principal and interest for a fixed term. The lender may ask for a lien on the equipment to work as collateral against the loan. After the borrower pays the loan in full, the equipment becomes theirs. Sometimes, bad credit equipment financing may also need a personal guarantee or lien on additional assets. If in case, the borrower fails to repay the money in time, it can result in repossession of personal and business assets.

Benefits of Equipment Financing:

Financing the important equipment is a sensible option for any business. With this loan, the business owner will get the capital to buy an asset for long-term use. If they can pay the amount in periodic increments, the lender may agree to extend the capital. For example, medical equipment financing helps the healthcare centers to possess the latest equipment without heavy investments.

How to Get Equipment Loan?

When applying for equipment finance or lease, you may expect the following steps:
• The borrower must complete the application process for new or used equipment financing.
• They must check their credit score to anticipate the chances. The lenders use this information to decide if they can allow equipment loans for bad credit.
• Apart from credit rating, borrowers also need to make a business plan with a proposal for growth over years. It provides a comprehensive summary of operations.
• Also, prepare the right documents including the cash flow statement, personal financial statement, and a lender application.
• The lender will consider the application and will notify the approval if all conditions are met.

When looking to get an equipment loan, do the math and carefully examine the contract before signing on the dotted lines.

Equipment financing
Equipment loans
Equipment credit
Heavy Equipment leasing
Business equipment finance

The Ultimate Guide to Trailer Financing

Commercial Truck Financing

Trucking can be a profitable business to get into — but getting started in this industry? That takes resources. Financing and funding to kickstart or expand your trailer business ought to play a central role in your strategy. Prior to making a decision, know that buying tractor-trailers are expensive. Manning, equipping, and maintaining an entire fleet of them can be difficult, especially when you’re just starting out. Fortunately, there are designated truck, trailer, and equipment financing options that can help. Read More


Understanding Factor Rate and How it Determines Your Business Loan Repayment Plan

Factor rate Loan

Unlike personal loans and mortgages, equipment financing/leasing doesn’t account for an interest rate or APR.  Instead, the amount of interest you’ll end up paying is calculated using a method called factor rate. A factor rate — is essentially “interest”, but calculated at the outset of the loan and spread across your payments throughout the borrowing period. This type of financing is beneficial for your businesses in two ways:  First, because it allows you to pay a consistent, predictable payment for Read More


The Easiest Way to Get Sprinter Vans

Get financed with small business loans with bad credit. Woman holding cash.

You have decided to get Sprinter vans as a new addition to your fleet. Having already used vans and trucks for your business, you know that sprinters are a great choice. The Sprinter lineup consists of the Sprinter Cargo, Crew, and Passenger vans that are available in both gas and diesel engines. Gas engine models were introduced in early in 2019. Especially if you travel a lot, a Sprinter van saves you more on gas than a diesel-powered van. With Read More


How to Finance Medium Duty Trucks

Medium Duty Trucks

The American economy heavily depends on medium duty trucks to transport vital goods. According to the American Trucking Association, these goods are more than 70% of US freight tonnage. Industries such as hospitals, food, and beverage use these medium duty trucks to move medicines and goods. Needless to say, without trucks, the US economy could come to a standstill. However, these trucks – including sprinter vans and water trucks – can be expensive. On average, they cost about $80,000 per Read More


Guide to Plumbing Equipment Financing

Plumbing Supplies

Plumbing equipment financing is a breeze with First Capital. Thinking of starting a plumbing business? Are you in the plumbing business and need to grow or upgrade your equipment? Learn how you can get all that you need hassle-free. Financing Plumbing Equipment 101 Plumbing equipment doesn’t come cheap. This alone can crush or derail your dreams of growing your business to even greater heights. The mere thoughts of missing out on a contract due to being poorly or lowly equipped Read More


What is a business cash advance?

Get financed with small business loans with bad credit. Woman holding cash.

A business cash advance is a lump sum payment that is taken up by a business in return for a fixed percentage of future credit or debit sales. They’re a smaller, more convenient alternative to traditional bank loans as they are characterized by short-term, regular payments. Enabling a business to sell a certain portion of its future sales in the present makes it easier for small businesses to gather funding in order to pay its operational expenses and to undertake Read More


How to Get Drill Rig Financing

Finance drill rig

Interested in drill rig financing? You’ve come to the right place. First Capital Business Finance is proud to offer drill rig financing that fits your needs. Read on to learn how to get drill rig financing through First Capital. Talk to the Experts The Steps to Getting Drill Rig Financing A drill rig, or drilling rig, is a machine that makes holes in the earth’s subsurface. They range in size from small enough to be moved by one person (called Read More


Bad Credit Loans Can Save Your Business

Bad credit loans in California

Bad credit loans are something you never thought you’d consider. When you inherited the family business you thought you’d expand on the lessons your father learned. But the only thing you learned was that your father was years in debt. There are so many unpaid or past due bills you don’t know where to start. Worse still, the equipment your father swore by is now breaking down. With the repairs added to the list, you wonder if it’s better to fold. Read More


How to Get Financing for Bar Equipment

Small Business Loans Bad Credit

It’s Saturday night. You’re out partying with your friends at the hottest local bar in town. And it strikes you suddenly: you should start your own bar with the right bar equipment financing. You can be your own boss and serve good times and great drinks to your customers. While the idea is a success, cash can be a huge obstacle. If you’ve not done business before, you might not know how to get financing for all the bar equipment. Read More


Financing Ice Machines, Fridges, and Freezers

Bad Credit Business Loans

The recipe to a successful restaurant business has many ingredients. Serving delicious food, with warm service and at the right price are the essentials. While we don’t know much about cooking, we do specialize in restaurant equipment financing. We help you get the right tools and equipment to give your customers the best dining experience – and also enable you to buy expensive restaurant equipment like: refrigerators freezers ice machines stoves and more With the right restaurant equipment financing, you Read More