Equipment Financing

Equipment financing is probably the easiest type of business capital for a small business owner to obtain (after unsecured business lines of credit).

The process is usually quite simple (depending on the type of equipment you need). It usually starts with you getting a quote (from a vendor) for the equipment you want to purchase. Equipment financing lenders and lessors will ask to see the quote, require you to complete a financing application and eventually an equipment finance agreement (or promissory note).

Although the process is simple, it’s important to understand the different types of equipment financing and what it takes to get approved for each.