Business Equipment Financing Rates

You probably know that equipment loans or equipment financing are a specific type of business loans.

Business equipment financing rates.

Equipment financing is essentially a term business loan used to purchase equipment. Equipment financing refers to a loan used to purchase business related equipment such as a restaurant oven a vehicle or a copier scanner. Special pro put and fpo residuals on new and used grain carts dump carts forage wagons dump wagons tillage equipment and heads cornheads drapers platforms. We finance general purpose equipment such as packing machines and office equipment heavy industrial equipment such as manufacturing lines printing presses and stationary machinery construction equipment and commercial vehicles typically greater than 2 5 tons such as heavy trucks and trailers.

As of 5 26 2020 equipment loan rates start at 5 00 based on term length credit history and equipment being financed. Thus the borrowing amount is directly based on the equipment s price. In general equipment finance can be more expensive than small business loans especially secured bank loans. They often have low rates and long terms that make them ideal for business equipment purchases.

Construction customized equipment financing for contractors equipment dealers and manufacturers. Equipment financing helps you finance up to 100 of the cost of equipment for your business. However there are a great many equipment finance providers to choose from and since the loan is secured on the asset you re buying it s lower risk than unsecured borrowing. And since the equipment you buy does double duty as the reason and the collateral for the loan these loans can be easier to get than other types.

Find out how contractors and distributors are feeling for 2020. How does equipment financing work. Equipment loan interest rates typically range between 2 and 20. Since the equipment is usually costly equipment financing allows small businesses to access higher amounts by using the equipment as collateral.

Special pro and put residuals on new and late model used 2015 or newer combines for a limited time only. Business equipment financing print the survey results are in. While the variance is as wide as that tractor you re financing it s only because the rate you get largely depends on your credit score and how long you ve been in business. Lock in a low lease payment with agdirect s special lease residuals.

Tailored strategies to help manage and finance your entire it. The higher your credit score the lower your interest rate will likely be. Learn more and compare the best equipment loan options for you. What are the interest rates on equipment finance.