Business Term Loan
A lump sum, repaid on a fixed schedule
- Amount
- $20,000 to $1,000,000
- Cost
- Starting at 5.5%
Enclosure 7
Equipment Financing
Secured on the thing it buys, over one to five years
- Amount
- Up to $250,000
- Term
- 1 – 5 years
- Cost
- As low as 8%
- Funded in
- Not published for this programme
Enclosure 7 · Re
What a equipment financing is for
Equipment financing covers the purchase or lease of what a business runs on — vehicles, machinery, refrigeration, ovens, technology, medical devices — and spreads the cost across the working life of the thing rather than taking it out of one quarter's cash.
The equipment itself normally secures the loan. That is why this programme runs the longest of the six, to five years, and why it is often open to a business whose file would not carry an unsecured loan of the same size. It is also the one place on this site where nothing being pledged has never been true.
It carries the smallest ceiling on the schedule, at $250,000, and the only cost that is quoted as a floor above 6%. This office publishes no time frame for it at all, which is the one gap in an otherwise complete set, and asking for one before applying is reasonable.
— The funding desk
Worth asking
One question to put to any lender
Ask who holds title during the term, and what happens to the agreement if the equipment is sold or replaced before it ends.
Enclosure 11
The application
At no cost and no obligation. Fifteen minutes, six screens, and one application that reaches every lender on the network and qualifies the business for all six programmes in this schedule.
Rather talk to somebody first? (800) 540-2119.
Enclosure 3 to 8
Where it sits among the six
Business Line of Credit
A limit to draw against, and nothing owed until you do
- Amount
- Up to $1,000,000
- Cost
- Starting at 4.5%
Short-Term Business Loan
The same shape as a term loan, over four to twenty-four months
- Amount
- $10,000 to $1,000,000
- Cost
- Beginning at 6%
Working Capital Loans
For the running of the business, not for a purchase
- Amount
- Up to $1,000,000
- Cost
- Starting at 4%
Equipment Financing
Secured on the thing it buys, over one to five years
- Amount
- Up to $250,000
- Cost
- As low as 8%
Merchant Cash Advance
An advance on future sales, collected out of them
- Amount
- $5,000 to $500,000
- Cost
- Factor rate 10% – 35%