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

Positive Year: Increase in Financing Demand Compared to 2020

The seek for financing by startup contractors for construction equipment seems to have increased this year, as mentioned by First Capital Business Finance president, Dustin Doi. Many of these startups are rejected by banks, because with less than two years in the business, they are usually considered as “high risk” which leaves them without many financing possibilities.   Even with the pandemic, this year has been busier when compared to years before for First Capital Business Finance. Popular items have Read More


Need Custom Semi Truck Financing? First Capital Business Finance Is the Solution

Semi Truck Financing - First Capital Business Finance

According to the American Trucking Associations, over 90% of trucking companies have less than six trucks. And Convoy estimates that over 10% of drivers are owner-operators. That means the trucking industry is primarily driven by small businesses. If you’re interested in becoming an owner-operator, semi truck financing gives you the terms you need to buy the right vehicle. At First Capital Business Finance, we provide customized commercial truck financing that adapts to your business more than traditional loans ever could. Read More


What Are The Semi Truck Financing Requirements?

Semi Truck Financing Requirements - First Capital Business

What Are The Semi Truck Financing Requirements That You Need To Qualify? Is it time to grow your transportation business? Semi truck financing can help you reach your goals. The right loan or lease makes it easy to get the trucks and equipment you need. What are the requirements? The specific semi truck financing requirements depend on whether you’re applying for commercial truck financing, a title loan, or a lease. For success, plan on six essentials. 1. Down Payment Most Read More


How To Buy a Skidsteer Loader With Bad Credit

Bobcat Financing - First Capital Business Finance

Have you tried and failed to get bobcat financing or skidsteer financing in the recent past due to credit issues? Many business owners deal with this problem, especially when business slows down and it’s hard to pay bills on time. Fortunately, just because you’ve been turned down by one or more lenders before, that doesn’t mean First Capital Business Finance will turn you down. We regularly offer equipment financing bad credit options that help business owners like yourself get financing. Read More


Get the Equipment You Need With Bobcat Financing and Leasing

Best Skid Steer Brands| First Capital Business Finance

Equipment tends to make all the difference in a business. With the correct tools, a company can drastically improve its products and processes. The Improvement often leads to an expansion in their consumer base and profitability. Unfortunately, not many businesses have the working capital available to purchase brand new equipment, despite the many advantages, meaning they require Bobcat financing. Bobcat equipment is the gold standard for many Industries. Due to its initial cost, many companies cannot afford such quality equipment Read More


Understanding Heavy Equipment Finance Rates

Bad Credit Equipment Loans

If you are searching for equipment loans for bad credit, you are probably concerned about finance rates. Several factors play into the cost of financing equipment. This guide will help you understand how heavy equipment financing rates work. Factors That Affect Your Equipment Loans for Bad Credit Financing Rates When you are looking for equipment financing bad credit, your circumstances will play a role in your offered financing rates. Five main factors determine the cost of your heavy equipment financing: Read More


Tips To Qualify For a Startup Business Loan with Bad Credit

Bad Credit Business Loans

Entrepreneurship is risky, and all ventures require some form of capital investment. In the earliest stages of business, owners may tap into their credit and savings to give their businesses a headstart. These and other factors can severely impact your personal and business credit. Even so, there are lenders who are willing to take a chance on riskier businesses and lenders. The trick is knowing how to get a business loan with bad credit. How To Get a Bad Credit Read More


How To Get A Small Business Loan With Bad Credit

Bad credit history report

Applying for bad credit truck loans, equipment loans, and similar programs is an excellent solution for business owners facing credit issues. Here are six important steps for success. 1. Evaluate Your Options Whatever the cause of poor credit, there are small business loans you can qualify for. Maybe you’ve been asking, “How to get a business loan with bad credit?” Because small business loans are specifically designed for businesses with bad credit, it’s much easier to get approved. These options still provide low-interest Read More


The Business Owner’s Guide To Equipment Financing Bad Credit

excavator heavy equipment

If your goal is to obtain valuable equipment for your business, equipment loans for bad credit programs are an excellent way to make it happen. There’s no need to save up for years to get the equipment your business needs right now. With the right financing, you can invest in state-of-the-art equipment that gives you an edge over competitors. Here is everything you need to know to get started. Why Is Equipment Financing Important for Your Business? Using capital to purchase or lease equipment Read More


6 Ways Equipment Financing Can Grow Your Business

Best Skid Steer Brands| First Capital Business Finance

Equipment financing is a powerful tool for generating business growth. All business owners want their companies to grow in revenue, and there are many ways to make it happen. High-quality equipment gives your company important advantages, such as: Superior productivity Reduced costs Increased sales Larger customer base Better online reputation By providing superior service and attracting more clients, your business can increase the number of profits generated. Expand your company by leaps and bounds with these six types of equipment: Read More