Equipment Financing

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Overview

Adding new equipment to your fleet can increase your productivity, and even increase available credit limits if used as collateral.

Sometimes one piece of equipment can make the difference between making money and losing the deal.

Purchase New Equipment

Equipment financing can be good way for a business to purchase new equipment and supplies without the immediate impact to CAP x. Ultegra Business’s equipment financing program allows the buyer to take out a loan valued at up to 100% of the assed value of the equipment that is being purchased by using the asset itself as collateral. The equipment is then payed off with structured payments spread over the functional lifetime of the asset. Equipment financing is commonly used to purchase computers, vehicles, heavy-machinery and other high value items.

Use it as Collateral

Using company owned equipment can be a smart way to increase your credit limits and can even be used to secure new financing – known as an equipment collateralized term loan. Since the equipment already has a specific assessed value, using it as collateral can be a very fast way to get a loan to grow your company.

Getting Started

Similar to a traditional automobile loan, equipment financing is usually determined based on a number of factors: the credit worthiness of the business, the appraised value of the equipment, the expected depreciation it will incur, and the expected increase in revenue it will contribute to your business. Once the qualification criteria are met, the applicant is given a check to purchase the equipment directly from the seller. Interest rates on equipment loans vary widely, but the APR is fixed once the loan is issued in order to keep the monthly payments consistent. Some dealers will offer direct financing, but often at higher rates than direct lenders.

  • No time-in-business requirement
  • $75,000+ in gross annual revenue
  • A majority owner with a 500+ personal credit score

  • 6.99% – 29.9% APR
  • Financing amount is based on the equipment's assessed value
  • Fixed monthly payments
  • Electronic payments accepted
  • Automatic deduction is available on most plans
  • There are no additional fees charged for an Equipment Loan