Equipment Financing

Equipment loans help you purchase equipment at competitive rates if you have good credit and good finances. The equipment serves as collateral, and the term is usually calculated based on the expected life span of the purchased equipment.

Pros:

• After payments are complete, you own the equipment
• If you have good credit and strong finances, you can get competitive rates

Cons:

• May need a down payment

Best for:

• Businesses in need of equipment with competitive financing rates