Equipment financing is the use of a loan or lease to make equipment purchases or borrow hard assets like machinery for your business. Rather than paying for the assets in full upfront, equipment financing works by allowing you to receive the equipment you need now while allowing you to pay for the asset over its lifetime. Because of this, equipment financing is perfect for purchasing many types of equipment. Some examples include healthcare equipment, construction equipment and vehicles, kitchen equipment, and other large hard asset purchases that allow you to increase production and grow your business.
At Fast Commercial Capital, we take pride in the number of small businesses we’ve provided financing to, across a wide range of different industries. To get access to our loans and working capital, you have to meet the following minimum criteria:
- You need to have been in business for six months or more
- FICO score must be at least 500 or above
- Bank statements must show an average of $15,000/month in deposits for a three-month average and the most recent month
Over 90% of our applicants pre-qualify for funding, but meeting these criteria are not a guarantee of an offer of business funding. If you’re thinking you might not qualify, or if you have questions about the other financing products we offer, contact our Customer Success Team.
Let Fast Commercial Capital help you today.