Now, we can provide you the financing you need to purchase new or used equipment. Here are the answers to our most Frequently Asked Questions. To qualify you need to be in business for 1 year and have good credit history and a 630 minimum credit score. Also, if there is more than one owner that owns more than 30% they need to apply.
Equipment Financing
Lendinero makes equipment financing easy. Call us today: 888-505-5835
Why consider equipment financing?
If you choose to make a major equipment purchase, doing so may affect your budget for the month or the quarter. This can cause an irregularity that can complicate your cash flow if your use existing income or cash reserves from the business.
Monthly payments are much easier to manage. Instead of large financial outlays, consistent monthly payments make it easier to allocate the money you had anticipated using to buy the equipment into other areas of your business.
What are your finance rates and Terms?
The finance rates we offer are competitive with a typical bank business loan. Rates can range from 8% to 18% annual and terms can range from 6 months to 2 years. Your final interest rate may be lower or higher. Payments are monthly or weekly ACH.
What transaction sizes do you finance?
From small ($5,000) to large ($500,000-plus).
Do you have the restrictions that a bank has, like blanket liens and similar?
This may vary on the type of equipment loan you obtain. We have no equipment lien loans, we have UCC filings, and equipment lien loans. Every loan application is evaluated to determine the best solution for acquiring your new or used equipment.
Do you finance start-ups?
Yes, financing can be provided to start-up businesses. Start up businesses need a higher credit score to get funded. Also, we will evaluate the type of equipment and industry you are in.
What about applying – do I need boxes of tax returns and other forms?
As a matter a fact, the answer is “No”. We do not need business tax returns and no bank statements to process your application. In fact, all we need is the application and a copy of the invoice or estimate for said equipment purchase. First, if your transaction size is under $250,000, then all you need to do is fill out the application. You can apply online.
Once we apply, how fast is your approval process?
SAME DAY APPROVALS; MAX 2 DAYS. FAST AND SIMPLE.
Do you provide financing for the entire transaction?
Yes, we provide 100% financing as long as you qualify. Can we can also provide you with a hybrid solution which means 20% with another solution and 80% with our equipment financing program. Moreover, we are flexible. For instance, if the cost of the equipment is $100,000 and under the equipment financing program you qualify for $80,000; we can get you the $20,000 with another loan.
What type of equipment do you finance?
Of course, we will finance almost any type of equipment, vehicle and software a business needs to conduct operations. Not to mention, financing is available to purchase from heavy equipment to office furniture to electronic equipment to pretty much everything else.
