Equipment financing provides the facility to purchase any equipment in which a company is interested. The beneficiaries that can be obtained by carrying out an equipment financing process is that the company will increase its assets, increase production for the equipment acquired and will generate a credit history for future acquisitions.
Equipment financing works in the same way as vehicle concessions do, the financing conditions will go according to the equipment you want to buy, that is, according to the price of the equipment they go to elaborate the conditions of the same.
The equipment that is available for us to finance will be those whose objective is a work of the company directly (Machinery, Vehicles, Computers, etc.)
Who is a good candidate for equipment financing?
Any company that uses any equipment or machinery for the operation of its company in its daily tasks:
• Office technology: internet modem, router, computers or headsets.
• Air compressors, jacks, oil drains and motor hoists for auto repair shops.
• Photocopiers or comb folders for your copy center.
• Commercial grills, ice machines, griddles, or restaurant refrigeration equipment.
• Dump trucks, mini loaders and excavators for your construction business
• Any type of vehicle you need for your business.
• Washers, dryers and ironing machines for laundry companies.
• X-ray machines and dental chairs for dental offices.
• Salon stations, dryers and pedicure chairs for beauty salons.
What is going to influence the interest rate of the team is the credit point of the company and its credit history, remember a good history gives good interest and conditions, bad credit makes it difficult for banks to risk that is why sometimes they see those interests higher than other companies in the same category.