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

How To Get Approved for Bad Credit Truck Loans

How to Get Approved for Bad Credit Truck Loans | First Capital

Commercial truck financing is not always easy to get when you have bad credit, but for many, they are essential. Many people have bad credit, often due to issues beyond their control, such as losing a job. If your credit is less than perfect, it might not be easy to get commercial truck financing. Thankfully, when you know where to turn, it makes the process far easier to get bad credit truck loans. Reasons to Look Into Bad Credit Truck Read More


Get In-House Semi Truck Financing in 5 Steps

In-House Semi Truck Financing | First Capital Business Finance

There may come a time when you want to purchase a new semi-truck for your business. When this time comes, you must take your time with the decision. The truck you buy, and the terms under which you purchase it, will have a major impact on your business. There are several steps involved with commercial truck financing, and you’ll want to give your attention to each one to ensure you end up with the best possible truck at the right Read More


How Commercial Truck Financing Works

Bad Credit Business Loans

Commercial trucks are vital equipment for companies that need to haul goods, make deliveries, or transport materials. However, semi-truck financing can be a challenge for many business owners because of the substantial costs involved. Commercial truck financing is an option for businesses that don’t have the budget to purchase a truck outright. How Commercial Truck Financing Works Many commercial truck financing loans involve using the truck as collateral for a loan. This works similarly to an auto loan. The lender Read More


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


What Are My Commercial Semi-Truck Financing Options? How To Get A Truck With Commercial Semi-Truck Financing

In-House Semi Truck Financing | First Capital Business Finance

According to the American Trucking Associations, over 90% of trucking companies have less than six trucks. Convoy estimates that over 10% of drivers are owner-operators. That means small businesses primarily drive the trucking industry. 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 truck finance options that adapt to your business more than traditional loans ever could. Semi Truck Finance Read More


Get the Equipment You Need With Bobcat Equipment Financing and Leasing

Bobcat Equipment Financing | 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 requiring Bobcat financing. Bobcat equipment is the gold standard for many Industries. Due to its initial cost, many companies cannot afford such quality Bobcat equipment financing 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