That’s entirely up to you, as each option offers unique advantages. Equipment financing, also called an equipment loan, is used to purchase equipment, while equipment leasing enables you to use/rent equipment without ownership. Both options don’t require a big upfront expense, and the monthly payments are designed to work with your budget. An equipment line of credit is another solution we offer; it’s a flexible way to access capital for equipment purchases or repairs using a pre-approved credit line.
Our equipment funding application is quick and easy and takes around 10 minutes to complete. Once you submit your application, our team will review it, and we will contact you with a credit decision. We can provide credit decisions in one hour or less during our regular hours.
No, there’s no need to put down your business or personal assets as collateral when you apply for equipment funding up to specific amounts.
This is one of the most common questions that business owners ask, and there is no one-size-fits-all answer. Specifically, the interest rate will be based on your business’s creditworthiness, annual revenue, and time in business, among other criteria.
Funding is provided quickly once your application is approved and you accept and sign the loan agreement. Same-day funding for specific amounts is available during our regular hours.
Our team has extensive experience working with equipment vendors in countless industries nationwide, and we can assist in facilitating your transaction to ensure your vendor delivers the equipment in a timely manner.
Not a problem! We can structure and deliver funding for multiple pieces of business equipment. Just let us know what you are interested in procuring, and we will do our best to make it happen.
Patriot Equipment Lending might be an option if you’re struggling with less-than-perfect business credit or lack the annual revenue requirements of traditional banks and lenders. We have less stringent borrowing requirements, which may increase your chance of having your application approved.
Great question! There are many reasons to choose us for your business’ equipment funding needs. These include our quick and easy application process, competitive rates, flexible repayment options, fast turnaround times, and personalized customer service.