In a loan on equipment, equipment is the collateral that is being used to get the financing.
It can offer significant tax savings because it is often set up as a lease. The seller gets cash flow by getting out the equity in the equipment.
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Get a business loan against equipment or real estate.
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The Loan Against Equipment product allows businesses to use equipment. Borrowers get a loan against Construction equipment, Tractor Trailers, and also Farm equipment or machine tools. There is an option to combine Equipment with Real Estate. Only a one page application with equipment list is required. $10,000 to $500,000 is available. The approval process is usually one day. The equipment stays on your property and there are also no restrictions on how the funding is used. The debt does not show on the credit report.
This financing has a high approval rate. Since most businesses have equipment, many businesses can qualify.
How can I qualify for a loan against equipment?
The $10,000 to $250,000 range means a high percentage of businesses will qualify. More businesses will qualify for a $25,000 transaction than a $250,000 transaction. As a result, a very high percentage of businesses qualify.
There is only a 1 Page application. CNC Milling machines, 18-Wheelers, Rigs, Tractor Trailers and more types of equipment are used. Machine tools also bring significant working capital.
Construction equipment such as front end loaders, bobcats, skid steers, bulldozers, ditch witches, and woodworking equipment 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.
How to apply
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. Some ask for a loan against construction equipment. Others ask for a loan on construction equipment or loan on equipment. Some callers request a loan on machinery.
Underwriting looks at the age and condition of the equipment. Complete the equipment list. Use the most valuable and newest equipment on hand. Older equipment can qualify. The type and value is reviewed. 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 big rig, or a loan against a truck.
Examples of loans against equipment
High Point Transportation closes a $250,000 loan against equipment through smallbusinessloansdepot.com.
President Burt Matthews told Senior Management, “We announce the closing of a $250,000 financing instrument. With this capital, we will be able to finance several additional over the road Tractor Trailers. The additional vehicles will allow us to compete for and accept additional contacts. High Point Transportation was recently approached by referrals of existing clients. We will now be able to contact with 2 of the largest companies and hire several drivers. Bidding is underway on large cargo contracts and will have the vehicles to be able to handle the contracts. Revenues are expected to increase significantly in the next 12 months and by 50% in the next 24 months. The company looks forward to continuing and expanding our financing relationship.”
Frequently asked questions or requests:
Questions or Requests: I need a loan against my Equipment. How do I get
a loan against my equipment?
Does the equipment stay at my business? The equipment in this loan against equipment transaction must remain in the place of business. Exceptions are businesses that must move their equipment. Construction companies are an example.
Visit the SBA. for more information on how assets can also be used in business loans and personal loans.
Thank you for visiting our Loan against Equipment resource page.
Partner Resources to help Vendors Sell More Equipment
Do you know you can go to Small Business Loans Depot to find customers who need equipment or equipment financing? We bring customers to you at no cost to you. Vendors assist us in the process by providing their expertise in equipment.
With our referral program, you will learn how to substantially increase your equipment sales, understand what it takes to continue increasing your sales, and solving and improving your businesses cash flow. Complete the Secure DocuSign >>15 Second Application Now<<, or Full App.
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Vendors can expect to sell up to $25,000 per month more in equipment immediately. Equipment types include Computer Equipment, Industrial Equipment, and machinery. Medical equipment includes regular medical practice equipment, chiropractor equipment , dental equipment such as patient tables, X-ray equipment, patient tables, lights and cabinetry.
Increases sales of $50,000 to $100,000 per month after a few months, for an annual increase of $5o0,000 to $1,000,000 per year.
Call us Today at Tel: 919-771-4177 to start increasing your sales today.
We use your expertise to help you sell more Equipment!
Small Business Loans Depot has developed a unique in the market program to help Vendors sell more equimpent by bringing customers to the Vendor at no cost! Our customers request financing, or equipment, or both. As a vendor, you provide us assistance with in the financing through your channel and expertise with the equipment, such as Computer / Electronic Equipment, Medical Equipment, Machinery and Industrial equipment. Vendors help us provide a value of the equipment our customers bring to us.
Other Vendor opportunities to sell more equipment include assisting with locating equipment, equipment appraisal and equipment acquisition. Our customers need either equipment acquisition or equipment refinancing.
Call us today at Tel: 919-771-4177 to begin the process today!
Example transaction:
Pensacola dental needs a new deliver station and $15,000 in working capital. They complete an application and equipment list and sent to us. We send the application to you as the Vendor. You review the equipment list for accuracy of information and cost of items listed. The application is sent to the funding source. Upon an approval, the terms are provided to the customer. Once the customer accepts, documents are ordered. The documents are sent to the customer who completes them and either E-Mails the originals back in or Faxes back the docs.
In general, a site inspection is not done. A verbal confirmation is completed with the customer. The Vendor is funded within one or two days. The vendor then funds the customer per wire and the transaction is complete.
With a loan against equipment a business can get working capital. 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.
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. Low credit scores down to 500 and below may qualify.
Estimated Cost: $0
Total Time: 1 Day
Supplies Needed: time available.
Tools needed: Internet connection, phone, computer
How to get a loan against equipment
1. Prepare your asset list.
Make a list of the free and clear equipment assets your business owns. Include description, manufacturer, year, and model numbers.
Make a list of your equipment.
2. Have your asset list ready to provide.
Tip: Available programs lend up to a maximum of 60% on qualifying assets and must be free and clear. Eligible equipment is very restricted.
Search for Lenders that specialize in loans against equipment. Most lenders only lend against 2 or 3 equipment types. These include construction equipment, dump trucks, and tractor trailers. Maximum age limits are common.
Your list should include asset: Year, Manufacturer, Model #, description and value.
3. Contact the lenders that provide loans on the free and clear equipment you have
Ask about the approval and closing requirements. Find out what assets are accepted and what percent of the value can be loaned against. Also ask about credit scores, documentation required, and time to close. Settle on the program that is the best match for your business compared to the requirements.
How to Tip:
Provide the lender your asset information. Ask if they can review your asset list and pre-qualify you based on the value.
Call companies that specialize in loans against equipment
4. Complete an application
Provide any income verification and asset information you have when applying. Pictures and copies of any titles front and back are advised.
Once ready, complete the application for the best matching program.
5. Close Transaction
Review any approval terms and conditions. A site inspection paid by the borrower may be required as well as proof of purchase and ownership. If you are declined, contact the lender to find out if you can cure the decline reasons and obtain an approval.
Once you are ready to close, request documents and finish the paperwork. Complete all closing items required and receive funding.
Review approval terms and close transaction.
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.
Business loan programs are open, approving and funding small business loans on construction equipment, some large machinery, commercial vehicles, big rigs, semi trucks, Over the road tractor trailers OTR, vans, dump trucks, and even trailers such as gooseneck trailers during Coronavirus covid-19.
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. Some ask for 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 3 equipment types to get a business loan on or against
1 OTR Over the road trucks 2012 and newer
2 Construction Equipment or yellow iron
3 Dump trucks
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.
When a business is considering a leaseback, what percent of the value of the computer equipment will the loan typically be for?
In a leaseback transaction, the owner of equipment sells the asset for cash and leases it back, obtaining working capital. When the transaction involves computer equipment, the percentage obtained against the asset will typically be lower than for other equipment. The percentage will vary depending upon other factors such as time in business, business credit, personal credit and the amount of the request.
Get a leaseback on construction equipment or Semi Trucks now by calling Tel: 919-771-4177 today, or simply complete the “contact us” form in the menu bar above and representative will contact you!
The percentage loaned against the asset in a leaseback will range from 20% to 80%. Computer equipment depreciates in value very quickly. After only 1 year, the equipment may often be worth only 75% of the original value, sometimes less. This is a significant drop.
While the technology is almost always important in a leaseback, the technology needs of other types of equipment will usually not be as great. This includes restaurant equipment, construction equipment, machinery, and vehicles.
The quick drop in value has consequences that do not happen as severely with other types of assets in a leaseback. Because the value drops so much so quickly, if any party is forced to sell the equipment after 1 or 2 years, the market for selling this equipment becomes difficult because the technology updates so rapidly.
Since technology requirements are such a significant part of the reason updated computer equipment is purchased, buyers of computer equipment, especially businesses, may not be motivated by the price difference. A higher priority for businesses will often be the technology that allows their business to function as efficiently as possible. Businesses need to offer their customers the best service. Businesses also need to be up to date against their competition and preferably, have an advantage over their competition.
Due to this, in a leaseback loan transaction, they will likely be offered a low percentage against this type of equipment due to the difficulty and lower return in the event the equipment has to be sold.
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A computer equipment loan, is a way for businesses to get working assets by using their computer equipment as security.
Computer equipment is the type of collateral which depreciates the fastest. Whether the collateral will have much value, or any, will depend primarily on how old the equipment is. The equipment typically must be less than 90 days old and have significant value. In most cases full financial information must be submitted. The last 2 years business tax returns, interim financial statement will be required.
When it comes to computer electronic equipment, especially desktop computers, laptops, and software, after 1-2 years, the value will have dropped dramatically. Values will drop possibly as much as 50% – 75% in that time and the amount of working capital that can be obtained in a loan against computer equipment, or computer equipment leaseback, will be substantially reduced.
If the lender were to repossess the collateral, employ an outside vendor to re-market the equipment, they will only get 10 – 20 cents on the dollar. This results in making the repossession of the collateral possibly not worthwhile to the lender and may lenders will not repossess the collateral.
As a result, in many cases, lenders will consider computer equipment almost an unsecured transaction, which has an impact on the credit review and approval process. If an applicant gets approved for a leaseback of computer equipment and makes at least half the payments, it is very likely the equipment will never be repossessed, even if there is a default after the halfway point.
Regardless of the risk and credit issues, computer equipment is a very realistic and unique funding options for almost all businesses. There are several reasons why a loan against equipment in the $10,000 to $50,000 range is very viable. More businesses have equipment than any other asset. More businesses will qualify for $10,000 to $50,000 in financing then will qualify for $100,000 to $250,000 in financing. These factors put more businesses in play for funding than any other secured funding program
Thank your for visiting our computer equipment leaseback resource page!
What equipment is best to use for a leaseback? In a leaseback transaction, the equipment is sold. The seller receives a windfall of cash, then immediately leases the equipment back to own without ever relinquishing the equipment. Heavy equipment, such as construction equipment, is the best equipment to use. Tractors used for 18 wheelers can also be very good collateral to use for such a transaction.
Heavy equipment of this type holds it’s value in a leaseback. It takes longer to become obsolete. Other type of equipment such as computer equipment, medical equipment, landscaping equipment, even Restaurant equipment, obsolete more quickly. Complete the secure docusign application now.
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Some types of heavy equipment, most especially construction equipment, may still be very useful and desirable, even when it is 15, 20 years old. That is if the condition is still good. This is true especially for construction equipment.
With the construction industry being in a major slump, both residential and commercial, this is a surprise. Construction equipment maintains it’s value in a leaseback in large part because this equipment is so widely used and has a large secondary market. There are many venues to sell Construction equipment in the event of a default. Tractors for the trucking industry will always be in demand for a good price. There is a large secondary and wholesale venue for tractors.
Prices will be relatively stable for this type of equipment over time. Lenders know approximately what minimum price they will receive if they hold this equipment as collateral, which is why they are considered desirable types of equipment in a leaseback transaction.
Why do an Real Estate Leaseback versus Equipment? If your goal is to get $100,000 or higher, a Real Estate Leaseback may be better. If your company needs less than $100,000, an equipment leaseback has several advantages over a real estate leaseback.
An equipment leaseback can often times be completed with just a one page application. An equipment leaseback does not often require a formal asset appraisal by an independent company. The transaction is faster. It typically only requires 1 or 2 weeks completion time. Closing is easier and less documentation is required. Complete the secure docusign application now.
Or call us at Tel: 1-919-771-4177, or Question? Tell us what do you want to do?
Since less paperwork and financials are required, less information is analyzed that could cause a decline. The more documentation that is required, the more likely something will trigger a decline.
The above factors should be considered when deciding which financing to apply for.
