Funding For All Your Equipment Needs
- Secure funding between $50.000 and $2.5 million towards business equipment.
- No need to submit tax returns.
- Funding available for startup businesses.
How Does it Work?
Equipment financing allows you to borrow up to the full value of the equipment you need to run your business, enabling you to generate revenue without needing to pay upfront. Since most businesses rely on equipment for their operations, financing allows you to spread out the cost, often recouping that investment many times over. However, the terms of financing, including the interest and payment structure, are negotiable. The more you contribute upfront, the less you’ll pay in interest over time, which ultimately increases your profitability.
A fair market value equipment lease is similar to a car lease: you make monthly payments and have the option to purchase the equipment at the end of the lease term. This type of lease is particularly useful for equipment with a limited lifespan, such as IT devices or computers, which can become outdated in just a few years. In this case, a fair market value lease lets you upgrade to newer equipment once the lease term ends, without being tied to obsolete technology.
How Much Financing Can You Get?
With an equipment lease, you typically pay only for the depreciation of the equipment over the lease term. This means that the total amount of the lease is usually less than the full cost of the equipment. In some cases, such as a three-year lease on equipment with a three-year useful life, you may end up paying close to the full price.
However, in most cases, the lease covers about 50-85% of the equipment's value, with an option to purchase the equipment for its remaining fair market value at the end of the lease term.
How To Qualify?
To qualify for business equipment financing, you typically need a solid credit score. This is because, with a lease, you may not be required to make a significant down payment, and sometimes even $0 upfront is possible.
Since equipment often depreciates faster than the finance company recoups the value during the early months of the lease, the lender assumes a higher risk. A strong credit history can help mitigate this risk and increase your chances of being approved for the lease.
From application to approval, we’ve got you covered.
*DISCLAIMER*
Multifund Inc. is not a lender. We function as an advertising and referral service, connecting qualified participants with lenders, credit repair companies, banks, and other trusted partners. Not all lenders can offer the advertised amounts, and there is no guarantee of approval from any lender. We do not control or assume responsibility for the actions of any lender. We do not have access to the full terms of your loan, including APR. For more details, questions, or concerns regarding your loan, please reach out to your lender directly. The registration information you provide on this website may be shared with one or more participating partners. You are not obligated to use our services to initiate contact with a lender, register for credit, or accept an offer from any partner if you choose not to. Cash transfer times and repayment terms vary by lender. Repayment terms may be governed by state and local laws. Some faxing may be required. Be sure to review our FAQs for additional information on topics such as credit implications and late payment consequences. These disclosures are for informational purposes only and should not be interpreted as legal advice. Use of this service is governed by the Terms of Use and Privacy Policy of this site.
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