Equipment Financing

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Opportunity Business Loans only need 3 documents to approve you for Equipment Financing today!

What Is Equipment Financing?

Running a business already requires an enormous amount of capital. You’ll need money for operational expenses, labor, rent, inventory, and utilities, just to name a few. More importantly, if your business requires certain machinery or equipment, you’ll need to set aside a large amount money to buy or rent the equipment.

With an equipment financing loan, lenders can finance a business’s purchase of required equipment for the company, such as commercial kitchen equipment for a restaurant. Unlike other types of business loans, these loans are strictly for the use of purchasing equipment for the business.

Equipment financing is also more secure than other types of business loans since the purchased equipment also serves as collateral for the loan. Should the business default on the loan, the lender will acquire the purchased equipment to make up for any losses. However, when the business pays off the entire loan, then the business will officially own the equipment.

Since an equipment financing loan is secured by a purchased asset, lenders are more lenient when it comes to the loan’s requirements. Business owners who don’t qualify for other types of business loans can try qualifying for an equipment financing loan since the terms of the loan are more flexible. 

Equipment Financing vs. Equipment Leasing

Most businesses end up tying all of their free capital to new equipment purchases and repairs, not realizing their is a cheaper alternative. Some business owners are only looking for a temporary solution, so they choose to go with equipment leasing instead of buying the equipment. Others lease the equipment simply because they don’t have enough money to buy it outright.

When you lease equipment, you are renting it. This means that you will only be able to use the equipment while you are paying for it. The biggest advantage with leasing is that it doesn’t require any money down or collateral. However, leasing equipment could end up being more expensive than just purchasing the machinery in the beginning.

With equipment financing, Opportunity Business Loans gives you the loan you need to purchase equipment or machinery for your business. You can use the equipment while making loan payments and, once the loan is paid off, you get to keep the equipment. This is the most popular option of our Equipment Funding Program.

We have equipment financing and leasing options for businesses in all industries. If you are interested in upgrading your services through new equipment, give our financial advisors a call today.

Equipment Financing Features

  • Approval Amount: $20,000 – $1,000,000
  • Term Length: 1 – 5 Years
  • Minimum Credit Score: 550
  • Business Revenue: $20,000 avg.
  • Time in Business: 6 Months
  • Cost of Capital: 9% – 35%
  • Time to Approval: 24 Hours
  • Time to Fund: 1 – 3 Days

Equipment Financing Benefits

  • Approvals up to 150% of average monthly revenue!
  • Flexible loan terms
  • Monthly payments
  • Same-day approvals
  • Interest may be tax deductible
  • Minimal required paperwork

Types of Equipment Financing

Opportunity Business Loans offers 4 different options through our Equipment Funding Program. If you don't know which option fits your business needs best, give us a call. We will be able to secure the funding you need through a loan that makes the most sense for your individual wants and needs.

Two Party Transactions

With Two Party Transaction Equipment Financing, the borrower holds the legal title to the equipment and enters a contract with the lender to repay the principal balance. 

In this case, Opportunity Business Loans will give you a lump sum to purchase new equipment for upgrade current equipment. The equipment will be used as collateral to secure the loan until it is completely paid off. 

Once the loan is paid in full, you will be able to continue to use the equipment. 

Capital Lease

With a Capital Lease, the lender holds the title to the equipment and rents the equipment to the borrower for a specific period of time at a fixed monthly payment. 

In this case, Opportunity Business Loans will provide you with the needed capital to purchase or upgrade business equipment. We will hold the equipment’s title until the loan is paid off but you get to continue using the equipment while making payments.

Once the loan is paid off, we will return the title to you and you can continue using the equipment.

Operating Lease

In the case of an Operating Lease, the lender holds the title of the equipment and rents it out to the borrower for a specific period of time at a fixed monthly payment. The difference between this and a Capital Lease is that the borrower doesn’t own the equipment at the end of the lease.

When the loan is paid off, the equipment’s Fair Market Value (FMV) will be calculated. Then, you will have the following options:

  • Continue to rent the equipment 
  • Purchase the equipment for FMV
  • Return the equipment to Opportunity Business Loans
  • Return the equipment and enter into a new agreement to rent new equipment

Sale Leaseback

In a Sale Leaseback, the lender will purchase and lease the equipment back to the borrower. Essentially, you would use your business’ current equipment as collateral on a loan to purchase new equipment. 

Then, once the loan is paid off, you will continue to own both the old and the new equipment. You can still use the old equipment while making payments on the loan.

In this case, you use your current assets as leverage to purchase more assets. Instead of paying for the new assets up front, you will make monthly payments. This helps to free up cash flow. 

Equipment Financing Uses

There are multiple ways that you can use your new Equipment Loan to cover new equipment purchases and upgrades.

Agricultural Equipment
Tractors, combines, sprayers, cotton pickers, and utility vehicles
Servers and Data Centers
Cooling systems, servers, UPS systems, switches, backup drives, and enterprise servers
Health Care Equipment
Imaging equipment, physics equipment, treatment plan software, linear accelerators, and picture archiving and communication systems
IT Equipment
Payment processing software and hardware, operating systems, CRMs, accounting programs
Restaurant Equipment
Commercial ovens, grills, deep fryers, freezers, refrigerators, and food processors
Trucking Equipment
Food trucks, delivery vehicles, company cars, and trailers
Construction Equipment
crawler tractors and loaders, hydraulic excavators, backhoes, articulated trucks, skid steer loaders, and concrete pumps
Office Equipment
Furniture, fixtures, cubicles, lighting, solar panels, HVAC, telephones, coffee makers

Advantages Of Equipment Financing

There are multiple benefits that come with financing your equipment through Opportunities Business Loans. Ultimately, you will be getting new equipment without having to hurt your business' cash flow. Give us a call today or fill out our online application to upgrade the equipment for your business!

Fast Approvals and Funding
Opportunity Business Loans offers same-day approvals and funding in as little as 24 hours on all equipment financing loans.
Own The Equipment
Use the equipment while making payments and, once the loan is paid off, you will get to continue owning the equipment forever.
Make Upgrades
Easily make upgrades to your current equipment by purchasing new equipment or covering repair costs using your newly obtained capital.
Free Up Cash Flow
Instead of spending your cash on major upfront costs to purchase new equipment, divide that out into low, monthly payments through Opportunity Business Loans.
Save On Taxes
Save money on your taxes now by deducting up to 100% of your equipment costs using the Section 179 Tax Deduction.
100% Financing
With Opportunity Business Loans, you could get access of up to 100% funding. This means you don't have to pay a dime upfront to obtain your new equipment.

Working With Opportunity Business Loans

When you partner with Opportunity Business Loans, you will access various benefits that you wouldn't normally find at a traditional bank or credit union. Contact us today!

Simplicity and Speed

We offer a fast and simple online application form that only takes a few minutes to complete. Once you apply, you can get funded in as little as 24 hours!

Low to No Collateral

Traditional banks and credit unions usually require cross collateral, meaning you will have to put more up than just the equipment as collateral. This could include your house, car, or kid's college accounts. We will never require cross collateral on your loan.

No Hidden Charges

We put transparency first when creating the payment plan for your Equipment Financing Loan. We never charge hidden fees or prepayment penalties. This means you can save money on interest by paying your loan off early with no extra charges.

Credit Amounts

We offer high funding amounts which gives you the access to any and all needed equipment for your business. This allows you to upgrade your equipment while keeping control of your finances.

Flexible Terms

We offer flexible terms to ensure the loan is as convenient and comfortable for you as possible. This allows you to focus more on your business and less on making your loan payments each month.

Low Rates

Our goal is to ensure long-term success in your business by helping you upgrade your equipment. This will allow you to provide better service to your customers which will boost growth and profits. To do this, we offer low rates which keeps your payments low so that you can focus on your customers and not on your payments.

Finance Your Equipment Expenses Today!

If you’re wanting to purchase equipment for your company, try applying for an equipment financing loan with Opportunity Business Loans. Let Opportunity knock on your door today.

Apply Now

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