Term Loan
One lump sum, a fixed rate, and a repayment schedule you can plan against.
- Amount
- $20,000 – $1,000,000
- Cost
- From 5.5%
The six programmes
Equipment Financing
The longest term here, and the only programme secured on what it buys.
- Amount
- Up to $250,000
- Term
- 1 – 5 years
- Cost
- From 8%
- Funded in
- Not published
Equipment financing
What it is, and where it fits badly
Equipment financing pays for vehicles, machinery, kitchen gear, medical tools or technology, new or used, and spreads the cost over the working life of the thing rather than taking it out of this quarter's cash.
The equipment itself usually serves as the security, which is why this programme is often open to a business whose credit file would not carry an unsecured loan of the same size. It is also why it is the one programme on this site that the phrase 'no collateral' does not cover.
- What to ask the lender
- Ask what happens to the equipment if the business cannot pay, and whether a personal guarantee sits on top of the asset.
What it gives you
Why an owner takes this one
- New and used equipment both eligible
- The longest repayment period of the six
- Broader credit profiles served, because the asset is security
- Monthly repayment rather than daily or weekly
The application
One application. 80+ lenders. Fifteen minutes.
About fifteen minutes. One application reaches 80+ lenders, costs nothing, commits nothing, and leaves no mark on the owner's credit score.
Rather talk to somebody first? (844) 528-8696, Mon–Fri, 8am – 8pm.
The six programmes
Where it sits among the six
Business Line of Credit
A facility you draw on when you want it and pay for only when you use it.
- Amount
- Up to $1,000,000
- Cost
- From 4.5%
Short-Term Business Loan
A term loan on a short runway, for something that will pay itself back quickly.
- Amount
- $10,000 – $1,000,000
- Cost
- From 6%
Working Capital
Funding for payroll, rent, stock and the weeks that do not line up.
- Amount
- Up to $1,000,000
- Cost
- From 4.5%
Equipment Financing
The longest term here, and the only programme secured on what it buys.
- Amount
- Up to $250,000
- Cost
- From 8%
Business Cash Advance
A sum against future sales, repaid as a share of them.
- Amount
- $5,000 – $500,000
- Cost
- 10% – 35% factor
The cash advance is priced as a factor and the other five as a rate, and the two do not compare. A factor of 1.2 on $100,000 is $120,000 to repay whether it clears in six months or eighteen — settling it early does not make it cheaper. Interest falls when the balance does. Any comparison that puts a factor beside a rate is comparing two different things.