Similar to an auto loan for purchasing a car, equipment financing allows a business owner to purchase a piece of equipment with payments made over time. Whereas with an equipment lease, a business owner can rent equipment with regular payments and without the intention of owning it. When the lease ends, there is typically an option to renew the lease again or return the equipment.

Equipment financing provides you with equipment for your business. You make regular payments for the equipment price plus interest. Once the repayment term for your loan is over, you’ll either own the equipment outright or will need to make a decision on renewing your lease or not. Almost any type of equipment can be financed for your business so your operations run smoothly and stay competitive.

Alternative lenders make it simple to secure financing for necessary equipment upgrades. While traditional banks don’t often offer equipment financing loans due to equipment depreciation, Advance Funding has a team of Funding Specialists who specialize in securing customized financing solutions for your equipment needs. Simply fill out our quick application to get started.

The length of your loan term is dependent on several factors and varies by loan. However, you can generally finance equipment anywhere from one year all the way up to a decade.

Section 179 is applicable toward equipment-financed purchases and often has added value for business owners by allowing them to deduct up to 100% of the purchase cost. This gives you a tax savings benefit while also keeping working capital for other expenses in your business. Depending on the equipment, combining financing with the Section 179 deduction could greatly help your bottom line. View our guide to small business tax deductions for info on Section 179 and other deductions.

Heavy equipment purchases can place a financial burden on your business, but financing equipment is a great way to make it more affordable for your business. An equipment financing loan or lease allows you to make periodic payments toward a heavy equipment purchase. Advance Funding offers a quick and easy application process where upon approval, you could receive the funds in as little as 24 hours.

Running a farm relies on having the right equipment. It’s easy to secure funding for critical equipment such as tractors, combines, or sprayers. With our simple application process, you can receive funding in as little as 24 hours upon approval. Advance Funding has a team of experts who specialize in securing customized loan terms for farms of all sizes.