🛠️ Equipment Financing for Businesses With Lower Credit Profiles
Equipment is essential for many businesses, but purchasing machinery, vehicles, technology, or other equipment can require substantial capital.
Depending on the transaction and funding provider, equipment financing may be available to certain businesses with lower or challenged credit profiles.
Because the equipment itself may support the financing transaction, some providers evaluate factors such as:
- 🛠️ Type and value of equipment
- 💵 Business revenue
- ⏳ Time in business
- 💰 Down payment or equity contribution
- 📊 Business and personal credit
- ⚙️ Equipment age and condition
- 🏭 Industry
- ✅ Overall ability to meet the financing obligation
Possible eligible equipment may include commercial vehicles, construction equipment, manufacturing machinery, restaurant equipment, medical equipment, technology, and other business-use equipment.
Availability and underwriting standards vary significantly among financing providers.