Common questions. Straight answers.
What can we help you with?
Application Process
All that is needed to get started is a loan application and one of our team members will contact you to discuss your options.
We can provide financing for dealer, private and auction transactions.
We can provide equipment financing for clients with credit scores as low as 550. We have lenders that look at the asset, your business revenue and time in business when making decisions.
We typically provide feedback within 24 hours of an application being submitted unless there is critical information that would help inform our decisions missing from it.
If there is an open bankruptcy, we will have to wait until those are closed, dismissed or discharged
You would apply through our proprietary technology and allow systems to work its magic.
After the information is in, you will hear from someone regarding your options typically within 24 hours
After you receive your approval and all necessary documents are received, we will fund the seller directly for the equipment.
Financing Products
At EquipLoan we offer Equipment Finance Agreements, Leases and Sale leaseback where equity in equipment owned outright can be tapped.
Although the more time in business is beneficial to your loan application, we have startup programs for newly formed businesses.
Depending on the equipment, we can offer terms up to 7 years and as short as 18
months
The equipment financing products we offer are fixed monthly payments that will never change for the life of the loan or lease agreement.
All products are able to be paid early. In some cases the remaining payments will be due and with other agreements an early buyout option for less than what is owed is offered.
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