Get a Loan on Equipment
Get a Loan against your Equipment. Construction Equipment as well as Trucks, Rigs and Trailers can qualify. Monthly and Bi-weekly payments are available. To visit the video only page, go to
How to get a loan against your Equipment:VideoA similar transaction is a Sale Leaseback. To watch the video visit
Sale leaseback on equipment Video or go to full instruction
page, Sale leaseback on Equipment.
How to get a Loan against Equipment
Supply: List of your Free and Clear Equipment
Tool: Desktop, laptop, tablet or phone
1: Create a List
Make a list of your free and clear paid equipment
Get pictures and info on: vehicles, rigs and semi’s, pick up trucks, construction equipment, trailers and other
Equipment.
TIP: The lender may payoff valuable pieces with a low balance
VIDEO CLIP below: Make a List of Your Free and Clear Equipment: 2 Seconds –
13 Seconds in Clip below.
2: Provide Cash Flow Information
Provide your last few months bank statements to show cash flow.
VIDEO CLIP below: Provide Cash Flow Information: 14 Seconds – 16 Seconds in Clip below.
3: Match with a Lender
Match with a lender that offers loans against equipment.
Call and ask about amounts and Terms
VIDEO CLIP below: Match with a Lender: 17 Seconds –
21 Seconds in Clip below.
4: Apply
Apply and get your best chance for approval by working closely with a rep.
VIDEO CLIP below: Apply: 22 Seconds –
25 Seconds in Clip below.
5: Complete
Close the transaction and gather all closing items: Proof of ownership, titles, pictures or more.
TIP: Low credit scores O.K.
Finish by signing the contracts and getting funded.
VIDEO CLIP below: Complete: 26 Seconds –
33 Seconds in Clip below.
Apply Now
Author Biography: Will Sanio, Owner of SCF Funding, dba SmallBusinessLoansDepot.com, has a Bachelor of Science Degree in Business Administration with a concentration in Finance from the University of Tennessee, Knoxville.
Over 20 Years experience including 10 Years with Wells Fargo, formerly Wachovia Bank and First Atlanta Bank. Specializing in Traditional and Alternative lending.
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Show Video Transcript
Loan against Equipment
Video Transcript: In minutes and seconds
0:00 Introduction
0:02 Make a List of Your Free and Clear Equipment
0:14 Provide Cash Flow Information
0:17 Match with a Lender that Offers Loans on Equipment
0:22 Apply
0:26 Gather required Documents and Close Transaction
[ desert wind whistling ] How to Get a Loan Against Equipment.
[ engine running ] Make a List of your Free and Clear Paid Equipment.
Get Pictures and Info on [ engine idling ] Vehicles,
[ engine revving ] Rigs and Semi’s, [ revving continues ] Pick Up Trucks,
[ pressure releasing ] Construction Equipment,
[ duck quacks ] Trailers and Other Equipment.
[ counting money ] The Lender may pay off valuable pieces with a low balance.
Provide your Last Few Months Bank Statements to show Cash Flow.
Match with a Lender that Offers Loans Against Equipment.
[ desert wind blowing ] Call and ask about Amounts and Terms.
Apply and Get Your Best chance for Approval by working closely with a Rep.
[ race car engines ] Close the transaction and Gather all Closing Items.
Proof of Ownership, Titles, Pictures or More.
[ water bubbling ] Low Credit Scores OK.
Finish by signing the Contracts and getting Funded.
Need more money than your Assets can get ? Get extra funds without putting up your equipment here using a bank statement loans option. Or just visit the bank statement loan video page here.
Check out other options on our homepage smallbusinessloansdepot.com.
For businesses that do not have enough assets but need a larger business loan, read how to get a large business loan, or just visit the how to get a large business loan Video page and watch.
In a loan on equipment or vehicles, the owner keeps the equipment or vehicles and retains ownership when it is paid off.
This asset based option is often used as one way to get a large business loan Or Call us at 919-771-4177.
Data Secure 15 Second Request Form Here.
Or Call 919-771-4177 for more info.
Qualifying equipment includes many types of construction and industrial equipment, business and commercial business vehicles. This includes tractor trailers, big rigs, commercial vehicles and semi -trucks. Is your truck down? Find out more about a truck repair loan here, or just watch the Truck Repair loan Video here. You can even get a loan on a trailer! Low credit scores down to 500 and below may qualify.
Data Secure 15 Second Request Form Here.
Call 919-771-4177 for more info.
FAQ Frequently asked questions on a loan against equipment or vehicles.
What is a loan against equipment?
A loan on equipment lets businesses use the equipment or vehicles they own outright to qualify for a business loan. Borrowers can get a loan against construction equipment as well as tractor trailers and semi-trucks. Other qualifying assets include business vehicles and some types of machinery. The approval process is usually one or two days and the collateral stays on your property.
How much can I get?
You can get up to 60% against the current retail value of qualifying pieces. If your equipment has higher than market value, then provide documentation to prove the value from upgrades or customization.
How do put a value on the pieces?
Asset value data is used for each equipment type. The prices of comparable pieces on sale through industry leading vendors and suppliers may be used.
How old can my assets be?
Most trucks can be up to 8 years old. More than 8 years can still be funded with reduced approvals. Construction pieces and machinery can be older depending on the type, manufacturer, model and age.
Do I need to have proof of ownership?
Proof of ownership will be needed. Title, registration or bill of sale can be used for proof of ownership. Proof of purchase may also be needed and can be a paid invoice, loan or lease payoff letter, or bank proof of payment.
Can you take trucks or cars as collateral?
Free and clear trucks or cars including big rigs, semi trucks, OTR over the road tractor trailers, dump trucks, and vans may be used as security. Standard trailers such as big tex and gooseneck can be pledged. Cars, trucks and passenger vehicles may qualify if they are used partially for business.
Cnc milling machines, 18-wheelers, rigs, tractor trailers qualify. Machine tools may also bring significant working capital.
Construction equipment such as front end loaders, bobcats, skid steers, bulldozers, ditch witches, woodworking equipment, semi trucks, 18 wheelers, tractor trailers may also qualify.
Your business makes money by using equipment rather than owning it. Get the unused cash in your equipment and use it for cash flow in your business.
Submit the one page loan against equipment application and also the equipment list . Decisions are usually made in 1 day. Funding happens within five business days. $150,000 total funding is available.
Tell us the type of loan you are looking for. Callers ask for different types of loans, including a loan against construction equipment. Others ask for a loan on equipment using their construction assets. Some callers request a loan on machinery.
Underwriting reviews the age and condition of the equipment. Complete the equipment list. Use the most valuable and newest equipment on hand. Older equipment may qualify. This includes trucks and tractors. Through this loan against equipment, loans against a tractor-trailer is approved. It is also called a loan against an 18 wheeler as well as a loan against semi-trailer truck. Other products are a loan against a big rig, and loan against a semi truck.
Top 7 vehicles to get a business loan against:
1 Commercial Vehicles
2 OTR Over the road trailers
3 Big Rigs
4 Semi Trucks
5 Dump Trucks
6 Trailers
7 Vans
The following are examples of equipment and vehicles that can qualify under the program!
1. Cat 314ELCR
2. Cat TL943
3. Doosan DX 300LL-5
4. Ford F250XL and Ford F350XL
5. Ford F450
6. John Deere 225DLC
7. Kenworth T370
Thank you for visiting our loan against equipment resource page.