Business Equipment Financing
Rates as low as 9.99%.
(4 Months or more)
Growing your business has never been easier.
Looking for Business Equipment Financing? Read This First
As a small business owner, you know the value of updating and replacing business equipment and how expensive it can be. If you are considering financing to make your company more viable and to make capital improvements, below are a few things to keep in mind.
Benefits of Small Business Equipment Financing
When you start narrowing down on the type of business equipment financing your business needs, it’s good to consider the options of leasing versus buying. Depending on your circumstances, the cost-benefit of one option may strongly outweigh the other.
The chart below gives you some idea of how a working capital business loan works versus how leasing agreements work.
Fast Capital 360 works with a wide array of small businesses. Funding for your business is available in amounts between $5,000 and $2 million. Applying for online funding is uncomplicated, easy to navigate, safe and secure. Our quick decisions—within hours, not days or weeks— help you to receive and replace the business equipment financing you need without disturbing your cash flow.
Business Equipment Financing or Lease
|Payment Option||Down payment needed.||There usually is no down payment. Payments function much similar to a rental.|
|Terms of Ownership||You own legal title to the Equipment.||The lease holder may be allowed to purchase the equipment at the end of the term of the lease, but the lessor usually holds title to the equipment.|
|Collateral Required||If going for a traditional loan, your credit worthiness determines if a business loan may require current or fixed assets for collateral. Online financing does not require collateral.||The collateral is usually the leased equipment needed to secure the transaction.|
|Assets Eligible to Borrow Against/Finance||Financing can be used to pay for a broad range of capital needs.||A “Master Lease” acts as an umbrella for the financing of equipment outlined by schedules to the Master Lease.|
|Tax Incentive or Tax Deduction under Section 179 of the IRA Tax Code||Tax incentives are larger for purchasing office equipment, but there are some limits.||Tax deduction can be up to 100% as an operational expense.|
When a machine that is imperative to your business’ daily operations goes down, you’re faced with a few important decisions to make. Should you try to have the equipment repaired or replace it entirely? If you plan to replace the equipment, should you lease it or buy it? To help you make the right choice for your business, consider the pros and cons of each: