Equipment Financing
Our equipment financing loans, allow you to acquire the equipment you need, without plucking from your cash reserves.
What is Equipment Financing?
Equipment financing involves obtaining a loan or lease to acquire hard assets, such as machinery, for your business. Instead of making a full upfront payment, equipment financing enables you to obtain the necessary equipment immediately while spreading the cost over a designated period. This approach is particularly advantageous for acquiring healthcare equipment, construction vehicles and machinery, kitchen equipment, and other substantial hard assets, facilitating increased production and business growth.
Secure Financing For Your Business
An equipment loan is a specific type of loan designed for acquiring equipment. In this arrangement, the equipment itself serves as collateral, implying that if you encounter difficulty repaying the loan, the equipment may be repossessed to cover the outstanding amount.
Quick Application
The application process is fast and straightforward, with automatic debits from your account at a fixed rate each month, providing you with the assurance that your remittances will remain steady and predictable.
Flexible Funding
Given the fluctuating nature of your monthly revenue, we offer you the flexibility to request an adjustment to your remittances, allowing them to align more closely with your revenue for that specific month.
Favorable Rates
We identify the most cost-effective rates and pass on the savings directly to you. Our streamlined process ensures that we can secure the equipment financing your business requires within just 1-2 business days.
Loan Amount From $15,000 - $250,000
Equipment Financing Details
Qualifying Criteria:
- 670+ personal credit score (for startups)
- 580+ personal credit score (for 2+ years in business)
Required Items:
- Signed one page funding application
- 3-5 most recent business bank statements
- Invoice or quote for the desired equipment
No Application Fees
Advantages
- Enables you to acquire equipment that might be financially out of reach otherwise, and typically comes with more manageable monthly payments compared to various other flexible financing alternatives.
- The equipment often serves as collateral, simplifying the qualification process compared to most unsecured financing options. In simpler terms, a robust credit score or high annual revenue may not be as essential for qualification.
Disadvantages
- Opting to purchase the equipment outright will invariably be more cost-effective than financing, and frequent replacement needs may lead to substantial debt accumulation.
Why Choose Us?
Different from conventional banks and other alternative lenders, BHS Business Funding places genuine importance on your business. Your prosperity holds the utmost significance for us, and we are committed to avoiding excessive financial commitments that your business might find challenging. Our uncomplicated application process, coupled with swift approvals, facilitates the seamless acquisition of the working capital essential for your business. Moreover, our seasoned funding consultants are dedicated to guiding you through every stage of the process.