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Home What Is Equipment Financing?
Equipment financing is really just a loan for all your business stuff. It’s not only one of the most common loans, but also one of the easiest loans to qualify for.
Sure, it’s for those things. But it can also be used for so much more! Vanna, show ’em what’s behind Door Number Three!
Well, it could be. But it could also be something relatively boring, like a bunch of pencils or staplers or mouse pads.
Shhh. Listen, what people often don’t realize is that the term “equipment” is a huge umbrella that covers just about any items you need for a business, no matter how large or small. Does your business need some new plumbing tools? Or maybe a few cubicles? Or perhaps a crane? All of those things fall into the category of equipment.
Many people could. But keep in mind that equipment financing may not be for everyone.
Some of the downfalls of equipment financing are:
On the other hand, equipment financing has some excellent perks:
Furthermore, equipment financing typically is a more secure loan than most, meaning that lenders are more willing to work with you and fund you. This is why an equipment loan can often be secured with only a 15-minute application – no additional documentation needed. And since there is fierce competition among lenders to fund equipment loans, you can be sure you’ll get the best rates and terms possible.
Fantastic! Are you going to buy a vowel?
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California loans made pursuant to the California Financing Law, Division 9 (commencing with Section 22000) of the Finance Code. All such loans made through Lendio Partners, LLC, a wholly-owned subsidiary of Lendio, Inc. and a licensed finance lender/broker, California Financing Law License No. 60DBO-44694.