Equipment Lending
Businesses are always acquiring new and used equipment to help them in the manufacture and distribution of their product or service. The choices for the owner of a business in an equipment acquisition are as follows:
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Pay cash or write a check.
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Finance equipment at the bank. ( Bank will usually only finance up to 80% of equipment cost and require other collateral as well as spouse guarantee.)
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Finance with an equipment leasing company.
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Equipment can be financed for up to five to seven years and, in some cases, up to ten years, depending on the age and the useful life of the equipment. Most new equipment can be financed for 100% of the cost, including shipping and installation. Purchase options at the end of the finance (or lease ) period can be from $1.00 to 10% of the original cost or some agreed-upon price. The payback of the loan can also include a balloon payment at the end in order to reduce the monthly payments.
Typical equipment to finance or lease:
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Audio/Visual
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Automotive test, automotive
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Bakery
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Construction
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Computers (hardware and software)
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Copiers and faxes, etc.
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Forklifts
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Golf carts
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Laboratory
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Machine tools
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Mailing
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Manufacturing
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Material Handling
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Medical
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Office furniture
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Paint booths
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Photographic
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Physical Therapy
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Printing
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Refrigeration
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Restaurant
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Shelving
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Sound Systems
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Telephone
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Titled vehicles, trailers
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Trash compactors
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Waste Management
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Welding
