Equipment Financing and Leasing

Finance Your Business Equipment the Simple Way

Equipment financing and leasing just got a whole lot easier for small business owners. United Business Loans provides quick, effective, and cost-efficient financing for any equipment your business needs. Whether it’s a long overdue equipment replacement or a new piece of machinery that will help your business scale, we are your trusted partners in custom financing solutions.

How does equipment financing benefit your business?

The benefits of utilizing equipment financing can be monumental. Whether you’re a large corporation or a budding startup, an equipment loan or lease agreement can help boost revenue in your business in a short time. You’ll also enjoy a number of tax benefits, as well as leaseback options.

Additionally, you’re not required to put any money down for an equipment loan through United Business Loans, so you can use that capital on more pressing concerns. For the collateral, we’ll simply use the equipment you purchase with the loan.

What do you need to qualify for equipment financing and leasing?

We’ve made the application and approval processes as seamless as possible. With over 50 approved lenders, there’s no shortage of business equipment financing options available across almost every industry, so you can get your business going in no time.

Here’s what you’ll need:

Your business must be at least two years old

Located in the US

At least $120k in revenue in the last 12 months

You should have a personal credit score of 600 or higher

Even if you don’t meet these requirements, there’s still a chance as actual qualifications tend to vary by lender and the type of equipment being financed. For instance, agricultural equipment financing loans may still be possible even if your credit score is slightly below 600, provided you can show evidence of solid cash flow over the last three to six months.

In any case, the best way to be sure whether you qualify is to fill out our free online application.

Answering the Big Question: What’s the Difference Between Equipment Financing and Leasing?

Both equipment financing and equipment leasing involve providing your business with capital to purchase expensive equipment needed for your business. But here’s where they differ:

On who owns the equipment

For equipment financing, you will get money to buy the equipment. For equipment leasing, the lender buys the equipment and you just rent it.

On the down payment

Most equipment financing agreements will need you to put down payment, while there are no initial costs with equipment leasing.

On the nature of the transaction

Equipment financing is a loan in the strictest sense of the word. But with equipment leasing, the transaction is more like a rental agreement than a loan.

You don’t need to pay huge capital costs upfront just to buy equipment for your business. And equipment leasing, you don’t need to buy the equipment at all.

Equipment Financing vs. Leasing – What Should You Choose?

Ask these two questions to help you decide:

Can I afford a down payment?

It may be hard to get a lot of capital for some businesses, so their only option would be leasing.

How quickly does the equipment become obsolete?

If your answer is not at all, consider equipment financing because the capital cost diminishes over time.

Need equipment financing for your business? Turn to United Business Loans today for the best equipment financing and leasing to help you get what you need without paying the entire amount upfront.