Business Funding
It Doesn't Have To Be Complicated
Loan Amounts
From $30,000 to $5,000,000
Loan Terms
1 to 5 Years
Time to Fund
3 to 5 Business Days
Interest Rates
Ranging from 6% to 35%
All terms subject to credit approval.
Equipment Financing & Leasing
Streamlined process, from application to funding
Business owners are always looking for ways to better serve their customers. One of the best ways to improve your service is by getting the newest and most upgraded equipment. The only problem is that equipment and machinery can be very expensive. The equipment financing program from Enterprise Associates offers business owners a quick and affordable way to get new or used equipment to enhance their business’ productivity, effectiveness, and service.
Whether you’re a startup restaurant that needs new appliances or a construction company that works with heavy equipment. Enterprise Associates can help you get the equipment NOW while preserving that much-needed working capital.
At Enterprise Associates, we offer competitive commercial lending and equipment financing solutions that make your equipment acquisition a simple process.
If you have a startup business and you’re ready to see what kind of startup loans are available for you, we can help you find the right option based on your needs and what you qualify for. You’ll just need to make sure you have a plan developed for how you’ll use it, and how you’ll repay it. Contact us today to find out more.
What is Equipment Financing?
Equipment financing refers to a loan used to purchase business-related equipment or machinery, such as restaurant equipment, commercial trucks, or construction equipment. These loans provide for periodic payments that include interest and principal over a fixed term
A considerable number of businesses use equipment financing to replace, upgrade, or purchase new equipment while at the same time retaining cash flow and working capital. Getting an equipment loan involves a lender that is willing to finance from 80% to 100% of the equipment.
The loan is self-secured, meaning that the piece of equipment or machinery works as collateral. As a result, lenders tend to offer lower interest rates with longer terms.
How much you can borrow and the interest rate will depend on the value of the equipment you will buy and the strength of your loan application. Also, the term of the loan will not exceed the length of the useful lifetime of the financed equipment.
With the capital that businesses borrow they can get everything from computers, trucks, ovens, desks, furniture, copiers, forklifts, farm machinery—without having to pay the full cost up-front.
Would you like to know the difference between Equipment Financing & Leasing? This article from our blog gives useful and detailed information to help you make your decision.
Business Funding
It Doesn't Have To Be Complicated
Equipment Financing Calculator
Terms from 1 to 5 Years
Low, monthly payments
Monthly Revenue of $30K Required
All 50 States
Equipment Financing vs. Equipment Leasing
Often, new business owners use up the majority of their capital on equipment, not realizing that leasing is a cheaper alternative. Some business owners are only looking for a temporary solution, so they choose to lease instead of buying. Others lease the machinery because they don’t have the capital to buy it outright.
When you lease a piece of machinery, you are renting it just like you would rent an apartment. That means that you will only be able to use the equipment while you’re paying for it.
The main advantages, of leasing the equipment, are that you don’t need to put any money down or collateral. On the other hand, leasing the equipment could end up being more expensive than just purchasing it outright.
Do not deplete your business’ bank account, instead, partner with us and allow GoKapital to finance your next piece of equipment. We have equipment financing & leasing options for all industries.
Discover the tangible benefits of your new equipment purchase while maintaining guaranteed low payments through our lease program.
Pros:
Fast approvals
The equipment acts as strong collateral
You’ll own the equipment at the end loan term
Allows you to make equipment upgrades easily
Helps your cash flow
You can save money on your business tax return under Section 179 of the IRS
You won’t have to wait until you have the capital on-hand to purchase the equipment
Cons:
Most equipment loan applications will require an equipment quote
If the equipment depreciates, you can’t deduct the full cost each year
Not available to startups
Additional Services
Ask yourself these questions
When you decide that it is time to purchase equipment for your business, you should ask yourself three questions.
What type of equipment do you need?
How much is it going to cost?
How are you going to pay for the equipment?
For additional information visit our Equipment Leasing resources.
