Equipment Financing

Equipment loans help you purchase equipment with competitive rates if you have good credit and good finances. The equipment serves as collateral and the term is usually calculated off of the expected life span of the purchased equipment. 

Pros:

  • You pay off and own the equipment

  • If you have good credit and strong finances you can get competitive rates

Cons:

  • A down payment may be required

Best for:

  • Businesses in need of equipment with competitive financing rates

 

Short-Term Loans

Short-term loans allow for very fast funding so you get a lump sum of cash with a predetermined payment term. Payment is usually made daily, weekly or bi-weekly. The short term loan is best for business with high and consistent sales that are in need of quick unsecured cash to use however you need.

Pros:

  • Fast Capital in as little as 24 hours

  • Unsecured

  • Easy approval process

  • Little documentation needed

Cons:

  • Cost of borrow ing can be more

Best for:

  • Businesses that have high and consistent sales and bank deposits

  • Businesses that need financing right away