Crestmont Capital

Why Take Advantage of Equipment Financing?

Crestmont Capital offers offers equipment financing agreements (EFA’s) that do not require financial statements for most dollar amounts. We have flexible EFA’s, backed by an unlimited sources of capital. Clients enjoy our exceptionally fast response times, and simple, effective financing processes. We have streamlined processing, straightforward and accurate documentation. You won’t experience any last-minute delays or broken promises.

  • 100% financing for small businesses looking for equipment financing
  • Competitive fixed pricing and terms to fit your needs and business cycle
  • Tax-free loan payments if supplier/equipment vendor is not required to collect tax
  • Tax-exempt leases for municipalities and other qualified government entities
  • Leasing professionals with an average of 20 years of experience
  • Award-winning customer service
  • Customized leases and loans from $10,000 to $2 million

Equipment Finance Options

  • Operating lease/True tax leases financing
  • TRAC leases
  • Fixed term loans
  • Capital lease/lease purchases
  • Lease lines of credit
  • Municipal tax exempt leases
  • Sale leasebacks and refinancing

We understand that acquiring equipment is a vital part of your business. We carefully analyze each client’s unique situation, keeping in mind your goals and objectives to provide an equipment finance program that best meets your needs.

Whether you purchase equipment once a week, or once a year, Crestmont Capital will deliver with consistency and integrity.

What is equipment financing and why a business might need it?

Businesses need equipment like office supplies and software. Equipment costs money, and if you need lots of equipment, you may be facing some big expenses. Making these big expenditures can cost your business lots of working capital. Fortunately, there’s equipment financing. These types of loans are a way for your business to get the equipment it needs while avoiding large upfront expenses. They’re also some of the most common loans, and qualifying is easier than you might think!

Benefits of Equipment Financing

Most business loans require a borrower to have an asset of value to be used as collateral to secure the loan. With equipment loans, the equipment itself is used as collateral, so in most cases, the borrower is not required to provide anything else. Small businesses may find this advantageous, as they might not be able to own the types of assets lenders typically look for to be used as collateral for loans.

Since equipment financing comes with collateral as an intrinsic stipulation, lenders can be more flexible about approving applicants. Your business’s credit score is a lesser factor; therefore, lenders are virtually just as likely to approve a younger company as they would be to approve an older one with more experience. Also, applying for equipment financing features less paperwork than applying for a regular business loan, so the application and approval processes are usually quick.

Terms for equipment financing are often flexible when compared to those of a regular business loan. Equipment financing terms can last anywhere from a few months to over a decade, depending on the expected useful life of the equipment.

The Difference Between Equipment Financing and Equipment Leasing

Although the terms “equipment financing” and “equipment leasing” are sometimes used interchangeably, they are not the same things. Equipment financing allows you to own the equipment at the end of the term; however, with equipment leasing, you make monthly payments for the ability to use the equipment for a limited amount of time. This set amount of time makes leasing a more cost-effective option for equipment that you only need to borrow temporarily. Equipment financing is better suited for things that your business needs for an ongoing and extensive amount of time. If equipment leasing sounds more fitting to your needs, you can learn more about it here.

Applying for Equipment Financing

Generally, equipment loans are more obtainable for businesses than standard business loans, but lenders will still want to see that your business is capable of turning a profit and that your new equipment will augment your progress down the road. When you apply, be ready to provide:

  • A copy of some form of government-issued identification, like your driver’s license
  • A completed equipment financing application
  • An invoice or purchase order of the equipment

The Bottom Line

Equipment financing is a great way to get the piece of equipment your business needs. Its terms are ideal, and you can avoid big upfront expenses while still reaping the benefits of the equipment. Loans and leases are both good options but provide different benefits over different time frames. Whichever you decide to go with, remember to compare which options are the most financially realistic and most appropriate for your business’s particular equipment needs.

Crestmont Capital provides a variety of equipment financing agreements that suit many business equipment needs.

Are you ready to acquire the equipment you need to take your business to the next level? If so, you can fill out an application or contact us today!