Equipment financing
Finance the asset against itself, over a term that matches how long it will be earning.
- Amount
- $10,000 – $1,000,000
- Term
- 12 – 72 months
When it fits
- The spend is a specific piece of equipment with a quote or an invoice.
- The equipment earns — a truck, an oven, a lift, a line.
- You would rather not take the cost out of working capital in one month.
When it does not
Financing a purchase you have already made out of cash is harder and usually more expensive than financing it at the time. Come to us with the quote, not the receipt.
What it looks like
- What arrives
- Payment to the vendor, or to you against the invoice
- What leaves
- A fixed payment over the term, matched to the asset's life
- Security
- The equipment itself
- Term
- 12 to 72 months, depending on what it is
Have the quote or the invoice to hand. It is the one document this product cannot start without.
What people spend it on
- A truck, a trailer, a van
- An oven, a lift, a line
- Replacing the thing that keeps breaking
- A machine that lets you take work you turn down now
Pick this when the money is for one specific thing with a quote attached. The payment then sits against what that thing earns.
How to get one
Five steps. About ten minutes, most of it finding your statements. One file goes to the lenders most likely to fund it — you don't apply four times.
- 1Make an accountBusiness email, name, phone, password. Two minutes.
- 2Answer eleven short questionsWhere you trade, what you turn over, how much you need. It saves as you type.
- 3Send six months of bank statementsPDFs from your bank. This is the part underwriters read.
- 4Add your paperwork and verify your IDIncorporation documents, the owners, and a photo of your licence.
- 5Send itMost decisions come back within one business day.
How the four compare
You don't have to pick. Send one application and we come back with the one that fits. Here's how they differ.
| Amount | Term | Secured on | |
|---|---|---|---|
| Term loans | $5,000 – $2,000,000 | 6 – 60 months | Usually none pledged; a personal guarantee is common |
| Revenue-based line of credit | Up to $500,000 | Revolving | — |
| Asset-based lending | $50,000 – $2,000,000 | Revolving or fixed | Registered against the assets it is advanced on |
| Equipment financing | $10,000 – $1,000,000 | 12 – 72 months | The equipment itself |
What it costs
In dollars, before you sign. The amount. The total you'll repay. The payment. How many payments. Multiply the last two and you're back at the total — that's the whole of it.
No rate to compound out yourself. No fee that shows up in month four. If a number on an agreement isn't obvious, call us before you sign it. That's what we're for.
An approved application. Amount, total payback, payment, number of payments — the four figures, before anything is signed.
What we need to place it
The same file whichever of the four it turns out to be. Most of the ten minutes is finding the statements, which is why it is worth doing first.
Questions
Both get financed. Age and type affect the term more than they affect whether it can be done at all.
Still deciding? Talk to a specialist — no application required.
The other three
- Term loansA fixed amount, a fixed schedule, and nothing pledged against it. The straightest answer when you know the number and the timeline.
- Revenue-based line of creditDraw what you need, pay for what you draw, and the limit moves with what you turn over. For months that are uneven rather than short.
- Asset-based lendingYour receivables, inventory or equipment doing some work while you still hold them. Usually the cheapest money on this page.