Equipment Financing
Gear up for success: flexible financing for the equipment you need to grow your business.
Loan Amounts
No Maximum
Repayment Terms
Monthly
Interest Rates
Starting at 7.5%
Available Through
Applying for Equipment Financing
Equipment Financing 101
What is Equipment Financing?
Equipment financing allows you to get the equipment you need and ensure that your business isn’t ever held back by outdated or insufficient equipment.
Section 179 of the IRS Tax Code allows businesses to deduct part or all of the purchase amount of qualifying equipment for the year in which it was purchased or financed.
Get the tools you need without worrying about eating up your working capital or draining your savings, and with flexible rates and terms that work with your business.
Equipment Financing vs. Equipment Leasing – What is the Difference?
Business equipment financing and equipment leasing are both methods to acquire essential tools for your business, but they differ in certain aspects.
Equipment financing involves securing a loan to purchase your equipment, taking ownership of your new assets and repaying your loan over time with interest. Once the loan is paid off, you fully own the equipment you’ve financed.
Leasing allows you to use the equipment you need for a set period of time through regular monthly payments. You do not own the equipment unless you are given the option to purchase it at the end of the lease term. If you choose not to purchase, you can return the equipment once the term is over or continue to use it by extending your lease.
Benefits of Equipment Financing Through Kapitus Equipment Finance
Customized Financing Solution
Find customized commercial equipment financing rates and terms that get you the equipment you need to keep your business competitive without overextending your budget. There are no maximum financing amounts, 100% of the equipment cost can be financed and no down payments for qualified buyers. Used equipment can be financed too!
Application-only Submissions
For financing up to $500,000, qualified borrowers can enjoy a simple application-only submission process, providing you with a quick decision on your financing, saving you time while getting the equipment you need onsite quickly.
Financing for Nearly Every Industry
Businesses in nearly every industry can find a use for equipment financing. Here are just a few of the most popular types of equipment purchased with the help of equipment financing auto shop equipment, beverage and brewery equipment, salon equipment, dental and medical equipment, landscape and lawn equipment, laundromat equipment and restaurant equipment.
Tax Benefits
Section 179 of the IRS tax code allows qualified businesses to deduct part or all of the purchase amount of qualifying equipment for the year in which it was purchased or financed. By financing equipment through Kapitus, you may be eligible for this tax deduction. Consult with your accountant to determine if your equipment purchase qualifies.
Popular Types of Equipment Financed
- Agriculture
- Automotive
- Audio/Visual
- Car Washes
- Computers
- Construction
- Fitness/Gyms
- Gas Stations
- FF&E
- Landscaping/Arbor
- Machine Tools
- Manufacturing
- Material Handling
- Medical/Healthcare
- Restaurants
- Robotics
- Computers
- Soft Costs
- Testing Equipment
- Trailers
- Vehicles
- Waste/Recycling
- Agriculture
- Automotive
- Audio/Visual
- Car Washes
- Computers
- Construction
- Fitness/Gyms
- Gas Stations
- FF&E
- Landscaping/Arbor
- Machine Tools
- Manufacturing
- Material Handling
- Medical/Healthcare
- Restaurants
- Robotics
- Computers
- Soft Costs
- Testing Equipment
- Trailers
- Vehicles
- Waste/Recycling
Minimum Requirements to Qualify for Equipment Financing
Before you can secure your Equipment Financing through Kapitus Equipment Finance, we ask that you meet a few minimum requirements:
Time in Business:
2 years
Minimum Financing Amounts:
$20,000
FICO Score
660
Understanding Equipment Financing Requirements
Equipment financing for small businesses comes with a set of minimum requirements to serve as a safeguard for all parties involved. Here are some of the factors that are considered:
Personal Credit Scores
Equipment financing is a credit-based product with a high reliance on your personal credit score.
Time In Business
Having at least two years in business provides an adequate amount of time to determine your best loan option.
The Equipment
We finance equipment that is revenue generating and comes from a licensed dealer.
Of course, these are not the only criteria needed to acquire equipment financing. Additional qualifications may be required based on the health of your business, the equipment you are purchasing and the cost of that equipment.
Get Your Non-Binding
Pre-Approval Today!
Speak with a Kapitus Financing Specialist to learn more.
Equipment Financing FAQs
Can the equipment I am purchasing be used as collateral?
Yes! cross-collateral is not required for equipment financing. The equipment you are purchasing is the only collateral needed for approval.
Can a newer, “startup” business get equipment financing?
We generally require a minimum of 2 years in operational history.
Is it difficult to get equipment financing?
Securing equipment financing through Kapitus is a simple and straightforward process.
For equipment costing up to $500,000, qualified borrowers can enjoy a simple application-only submission process.
Do I need good credit to get equipment financing?
A credit score of 660 is generally required for equipment financing, however, the business behind the paper is fully considered, and credit-challenged customers can receive non-binding pre-approvals for equipment purchases.
Reach out to one of our financing specialists to inquire further.
What are the typical terms for equipment financing?
Equipment financing terms can go out as far as 72 months.
What happens at the end of an equipment financing term?
If your financing obligation is paid in full at the end of your financing terms, you fully own the equipment you purchased and nothing further is needed.
How does equipment financing repayment work?
Upon approval, your financing specialist will discuss your financing package further to decide upon the repayment terms and rates that best fit your capacity and business needs. You will be making payments to your lender, not the vendor or entity from which you purchased the equipment.
Can I finance the full cost of the equipment?
You can finance up to 100% of your equipment cost with rates starting at 7.5% and terms of up to 72 months.
You can finance both new and used equipment!
What type of equipment can be financed?
Almost any type of equipment you need to run your business can be financed – from vehicles to software. Here are some of business needs you can cover:
- X-Ray Machines, Autoclaves, CAD/CAM Technology, Dental Treatment Units and more
- Bulldozers, wheel loaders, telehandlers, aerial platforms, trenchers, pavers and more
- Solar Panels and HVAC Units
- Commercial mowers, front-end tractors, loaders, back hoes, excavators and more
- Forklifts, workbenches, flow racks, case sealers, conveyor belts and more
- Trailers, delivery vans, company cars, food trucks,
- Commercial ovens, freezers, refrigerators, grills, food processors and more
Can used equipment be financed?
Absolutely! You may need to submit a bit of extra paperwork but used equipment can be financed.
Can I pay off equipment financing early?
The ability to pay off debt early is proof of a business’s success and financial responsibility. There are no penalties for paying off your equipment debt early.
How much does equipment financing cost?
The cost of your Equipment Financing will vary on several factors, such as the amount being financed, your personal credit score, and your business’s financial health.
Equipment financing through Kapitus starts at 7.5% interest and have repayment terms of up to 72 months.
Can I lease equipment instead of buying it?
Yes! You do have the option to lease your equipment, so long as the equipment vendor allows it. To learn more about leasing equipment, contact a Kapitus financing specialist at 646-257-5406
Explore Other Financing Options
