Equipment Financing

Modernize Your Business with Flexible Equipment Financing Solutions

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What to Expect

Equipment Financing at a Glance

Loan Amounts

No Maximum

Terms

Up to 60 months

Rate

Starting at 8.99%

Payment Options

Monthly fixed payments

Equipment Financing 101

What are Equipment Financing Loans?

Equipment financing is a specialized funding solution that helps businesses acquire necessary equipment without depleting their working capital. This type of financing allows you to purchase both new and used equipment while spreading the cost over time through manageable monthly payments.

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Whether you need manufacturing machinery, vehicles, medical equipment, or technology infrastructure, equipment financing provides a strategic way to grow your business while preserving cash flow. The equipment itself typically serves as collateral, often eliminating the need for additional security.

How do Equipment Financing Loans Work?

With equipment financing, you can receive up to 100% of the equipment's value, meaning qualified buyers may be able to acquire equipment with no down payment. Once approved, funding goes directly to the equipment vendor, and you begin making regular monthly payments.

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The financing terms are usually aligned with the expected useful life of the equipment, allowing you to upgrade or replace equipment as needed. This structure helps maintain your competitive edge while managing cash flow effectively.

Benefits of Getting an Equipment Financing Loan Through Joseph Capital Network

Preserve Working Capital

Equipment financing allows you to acquire necessary equipment without depleting your cash reserves. This preservation of working capital gives you the flexibility to address other business needs, take advantage of opportunities, or maintain a financial buffer for unexpected expenses.

Tax Advantages

Equipment financing may offer significant tax benefits, including potential eligibility for Section 179 deductions. This can allow you to deduct the full purchase price of qualifying equipment from your gross income, potentially reducing your tax liability substantially.

Competitive Edge

Stay ahead of your competition by accessing the latest equipment and technology. Our financing solutions help you acquire state-of-the-art equipment when you need it, rather than waiting until you have the full purchase price available in cash.

Flexible Solutions

We offer customized financing solutions that match your business needs. Whether you're financing new or used equipment, need a standard loan or lease structure, or require seasonal payment adjustments, we can create a program that works for you.

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Minimum Requirements to Qualify

Our equipment financing programs are designed to help businesses acquire the equipment they need to grow and succeed. While we evaluate each situation individually, these are our general requirements:

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- Credit score of 675+ (exceptions available)

- 3+ years in business (1+ year with excellent credit)

- Minimum equipment cost of $15,000 for non-titled equipment

- Minimum equipment cost of $25,000 for titled equipment

- U.S.-based business

- Strong business financials

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Understanding Equipment Financing Requirements

SBA loans are a great option for small businesses. They are backed by the federal government through the Small Business Administration which makes them more affordable than other business financing options. However, they are much more difficult to acquire with strict requirements and an abundance of paperwork. Here are the initial factors you must consider before applying for an SBA loan.

Equipment Requirements

The equipment being financed must be essential to your business operations and have a reasonable useful life. We finance both new and used equipment across a wide range of industries. The equipment serves as collateral for the loan, which often allows for more favorable terms.

Financial Requirements

While credit score is important, we look at the overall financial health of your business. This includes revenue history, cash flow, and existing debt obligations. Strong financials may allow for better rates and terms, including possible 100% financing options.

Business Requirements

We typically require 3+ years in business, but may consider businesses with 1+ year of operations if they have excellent credit (775+). Your industry experience and business plan are also important factors in our evaluation process.

If you meet these minimum requirements, you will then need to meet a plethora of additional financing and industry-based requirements that will be based on the size of the loan along with the intended use of the loan.