Equipment Financing
Business Loans, Financing, and Lines of Credit up to $5M
Clover Capital provides Equipment Financing, we offer the widest array of products to keep your business running and your equipment up to the task. Don’t let your equipment dictate your potential, check out our amazing assortment of equipment financing loans by completing a simple app with a “soft credit pull” to see all of the packages available to you.
Request Funding
Apply online in just a few minutes or call us directly at 1 (877) 446-2194 (M-F 9AM – 6PM ET) to see if you qualify.
Receive Funds
Our funding specialist evaluates your business and provides a decision. Receive funding in as fast as 24 hours
Ongoing Support
Get help from dedicated Loan Specialists which can help you to understand ways to scale your business.
What is an Equipment Financing Loan and why do I need one?
It’s often very difficult to grow and purchase much-needed equipment.
Traditional lenders are often times the first course of action, but not usually the best choice. They often have outrageous qualifications and require many a hoop to be jumped through. They usually auction your application and sell your business to the highest bidder, which in the long run proves disadvantageous in a variety of ways. Another mistake is often made by using online sources for such loans. There is a distinct lack of personability and absolutely no relationship with which to work through difficult situations and assist in tough decisions. Equipment Financing can help you get the best deal offered without hesitation.
Top Questions for Equipment Financing
In order to stay ahead of market demand, meet product quotas, or any type of new product innovation, there has to be a concerted effort made to invest in your equipment. You can’t expect to stay in business long if you are not growing and improving.
Simple purchases such as an office or accounting equipment may seem small and mundane, but, when your fiscal growth is subject to limiting factors such as construction downtime, reduced restaurant hours of operation or limited market penetration, the costs are great and far-reaching. It is important to acquire equipment financing to make sure your company is up to date.
Simply put, all equipment has an expected life span. Once it is determined that a piece of equipment is warranted, the loan should be matched to that piece of equipment’s lifespan. In other words; a delivery vehicle may have an expected lifespan of five years, so the loan should be established to run concurrently.
This eliminates the risk of draining your operating capital if the equipment financing term is too short and eliminate having to continue to pay for something that is outdated or in need of replacement.
Whereas traditional loans require such things as a credit history and score that is respectable and documentation, equipment financing loans are not as concerned about those things since the equipment itself acts as collateral and secure the loan. In addition, there are very favorable tax incentives available for purchasing new equipment.
There is a large diversity of loans that can be acquired which depend on a couple of criteria. One is the type of equipment needed, and the other is the cost of that piece of equipment. Terms can vary from 1- 5 years, or longer for higher price tags, and rates are just as volatile, ranging greatly. As with any loan you have to be an educated consumer to ensure you are getting the best of both worlds.
Another factor that greatly affects both the term and the rate is a personal credit score. The higher the score the easier it is to get the best rates for equipment financing, which also makes it easier to get the loan in less time.
Additional Funding Options
Business Loans, Financing, and Lines of Credit Products
Clover Capital provides a full range of business financing options, which ensures that merchants find the right financing option. Our experienced funding specialists guide our customers into selecting the best-suited loan product for their needs.
PDF Application
Expedite the funding process. Download the upload it as part of your online funding request.
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Browse our Full Catalog of Business Funding Products.
Get Funded Today For Equipment Financing
Simple Process. Quick Decisions. Generous Funding Terms
