Small Biz Heroes

Equipment Financing

As the old adage goes, money makes money. When you’re trying to grow your small business and need some new equipment or machinery for it, an Equipment Loan could be just what you need! You can use this type of loan to purchase anything from office furniture and medical equipment to farm machinery or commercial ovens.

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AMOUNT

$1k – 20M

Term Length

Up to 10 years

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Payment Frecuency

Monthly

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Loan to value

Up to 100%

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Closing Time Frame

As fast as same day

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Credit Pull

Soft

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Interest Rate

5.99% – 24.99%

BENEFITS

Options for same day approvals available

500 minimum FICO

Titled equipment ok

90% industry coverage

Deferred payment options available

What Businesses Qualify?

Equipment financing is the perfect option for a company that needs equipment but doesn’t want to use all their own cash flow to buy it. This type of loan will help you acquire equipment without any upfront money, while also acting as a valuable form of collateral in case anything goes wrong and your business needs to borrow more cash down the line.

Equipment financing approvals are based on personal and business credit scores, industry type, positive trade history, existing trade lines, Debt Coverage Service Ratio and the equipment quotes provided by the business owner.

What Type of Equipment?

You might think that our underwriting team is just concerned with your borrowing history, but the type of equipment you are purchasing could also play a role in whether or not we approve your loan. If you’re looking to invest in something high-value and value retaining, then even if your credit profile isn’t perfect yet we may be able to work out an agreement for financing – as long as it’s within budget!

SPEAK TO A PROFESSIONAL

BORROWER CRITERIA

Time in Business

Required: 6 Months

Preferred: 2 Years

FICO

Required: 500

Preferred: 660

Monthly Revenues

Required: $5K

Preferred: $15K

Entity Structure

Required: N/A

Preferred: LLC / Corporate

Documents You Need

Before applying for any type of loan, be sure that you have all necessary documents available. This will allow your application process to go much more smoothly and quickly.

Basic credit application

Invoice / bill of sale / quote

4 months of business bank statements

Financial statements & tax returns for $300,000+ requests

Voided business check or bank letter

Let’s Get You Funded

We help your business grow and can even secure start up funding.

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What do you qualify for?

Getting the right business loan is a lot easier than you think. We help you identify exactly what you qualify for and what program is going to be the best fit to suite your specific needs. See what you qualify for today completely risk free!

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**Secure E-Sign Application - Applying won't impact your credit score.

approvals@smallbizheroesllc.com