In business, the right equipment makes all the difference. Technology evolves, and business owners must keep up with the times. Sometimes, machines break, things slow down, and business owners must act fast if they want to keep up with demand. However, equipment gets expensive, and you’ll probably need a lot of the money upfront. So, what do you do? How do you finance your equipment without halting your business and stopping your cash flow? You could always get a business term loan, but here’s a better idea: equipment financing loans. This type of business loan is geared specifically toward those who need to make new equipment purchases. Interested in equipment financing? Then keep reading. Let’s take a closer look at why equipment financing could be the right choice for your business.
Compared to other loan types
|Loan types||Max Amounts||Rates||Speed|
|Merchant Cash Advance||$7.5k – $1m||Starting at 1.09||1-2 business days|
|SBA Loan||$50k-$10m||Starting at 5%||3-5 weeks|
|Business Term Loan||$10k to $5m||Starting at 5%||1-3 business days|
|Business Line of Credit||$10k to $250k||Starting at 8%||1-3 business days|
|Receivables/Invoice Factoring||$50k-$10m||Starting at 5.8%||1-2 weeks|
|Equipment Financing||Up to $5m per piece||Starting at 5%||3-10 business days|
|Revenue Based Business Loans||$10K – $5m||Starting at 9%||1-3 business days|
United Capital Source Can Secure Financing for Your Business Equipment
Need a fast, personalized, and simple financing source? Then let United Capital Source help. We would love to help you get the equipment you need for your business. Contact us today to get started with your free consultation. Also, please feel free to give us a call, shoot us an email, or start an online chat. We look forward to working with you!