Much like securing an auto loan for a car purchase, equipment financing empowers business owners to acquire equipment through manageable payments over time. In contrast, equipment leasing allows for equipment rental with periodic payments and no ownership intent. At lease end, the option to renew or return the equipment usually arises.

Equipment financing equips your business with essential tools. Regular payments encompass the equipment cost plus interest. After the loan’s repayment term concludes, you’ll either outright own the equipment or decide on lease renewal. Virtually any equipment type can be financed to ensure seamless operations and competitive edge.

Alternative lenders streamline the process of securing financing for crucial equipment upgrades. While traditional banks often refrain from equipment financing due to depreciation concerns, Small Business Lending Source boasts a team of Funding Specialists who specialize in crafting personalized financing solutions tailored to your equipment needs. Commence the journey by completing our swift application.

The duration of your loan term hinges on various factors and varies among loans. Generally, equipment financing terms span from one year to a decade, providing flexibility to suit your needs.

Absolutely. The Section 179 deduction is applicable to equipment-financed acquisitions, often offering extra value to business owners. This deduction enables deducting up to 100% of the purchase cost, furnishing tax savings advantages while retaining working capital for other business expenses. Depending on the equipment, coupling financing with the Section 179 deduction can significantly bolster your financial outcomes.