Utilizing the best tools to expand your business.
Collateral within itself
Use your equipment to secure your loan. No down payment required.
Get funds faster
Receive funds within 48 hours after submitting your application.
Financing It All
Get enough to cover the entire cost of your machinery purchase.
The right funding will help your business thrive.
You’ll need the best machinery to run your firm if you want it to be successful. Business Equipment Financing will assist you in accomplishing this while still allowing you to maintain the cash flow you require. While utilizing the machinery as collateral, you can get up to 100% of the equipment’s value.
If you don’t have the appropriate equipment, your company will stagnate. From forklifts to huge medical equipment, having the right equipment is essential to your business’s success. Don’t be put off by the high equipment costs. You may obtain up to $150,000 in finance for new or used company equipment through equipment financing and leasing. We are less expensive since we provide a Lowest Payment Guarantee and don’t demand a down payment. Our experienced Funding Specialists will work hard to secure you fast approval on almost any piece of equipment. They’ll then figure out which payment arrangement is ideal for you.
We make equipment financing easy for you
Take 5 minutes to fill out our online application.
Find the best fit for you
Compare your options to ensure you’re getting the best one.
Pick your financing
Our advisors will make sure you’re provided with offers that will only benefit you.
Requirements for Equipment Financing
Equipment financing is a type of loan that does not require a down payment. This is due to the fact that this type of financing is self-collateralizing, which means the machinery serves as its own security. You can choose between new and old equipment with equipment financing.
What you’ll Need to Become Qualified
- 2+ years in business
- $160K+ annual revenue
- 620+ credit score
Here’s How Equipment Financing Works
Periodic payments and interest fees are part of any lending plan. To help finance their agreement, some lenders want collateral. Equipment financing is advantageous because the apparatus itself can serve as collateral. You’re the owner of your equipment once you’ve paid it off completely.
You may be able to obtain additional assets for your firm or even a personal guarantee, depending on the financing. It’s critical to stick to a repayment plan; failing to do so could result in the repossession of your business and personal assets.
The Best Way to Utilize Equipment Financing
A merchant cash advance is an effective short-term lending option to keep your business running smoothly if your organization is short on finances due to a delayed invoice payment or a seasonal lull.
Upgrade your current equipment
There’s no reason you shouldn’t keep up with the latest technology and systems with your equipment financing. Investing in contemporary gear can help you enhance your company’s revenues in a variety of ways. To make money, you must spend money.
If you want to save money and time, leasing may be the best solution for you. The equipment you’ll need may only be needed for a brief period of time.
Treat Your Business to A New Opportunity
Purchasing new equipment may be the best investment you can make for your company. When we buy new machinery, we have great expectations that it will perform smoothly and efficiently to get the outcomes you desire.
Got some questions?
This kind of financing is where lenders disrupt loans to help provide you access to equipment for your business. This allows you the ability to own your equipment outright.
With this kind of financing, you have the option to use your funds to loan or lease.
After approval for an equipment loan, you’ll make periodic payments over time including interest and fees.
Collateral may be needed as a lien against your debt. After paying off the loan in full, the equipment is officially yours.
The options are endless when it comes to the equipment that you can finance.
We know that being in the business can be costly, and run you up a hefty bill.
- Printers and copy machines
- Furniture (chairs and tables for restaurants)
- Computer monitors
- Industrial equipment
We’re here to supply you with whatever your business needs.
Leasing does come with its advantages over financing. This doesn’t require any kind of down payment to retrieve the equipment upfront.
The drawback of leasing comes with potentially paying more in the long run.
With equipment financing, you can use the money to repair, purchase, or lease the equipment you need, no additional collateral necessary, and increase your sales for business.
Unfortunately, these loans are only restricted to equipment and can run you higher traditional loan rates.
Is an equipment financing loan right for me?
As a business owner, you ultimately make the final decision on whether or not equipment financing is the best decision for you.
It’s all about doing your research and having your numbers and blueprints ready on hand. We can help you narrow down your options and make the right choice for you and your business.
It’s simple! Just fill out our online application or give us a call and speak to one of our representatives who can help guide you through it.
Upon applying, review your business’s following:
- Annual/Monthly Revenue
- Length in Business
- Credit Score
We review these factors to help make our final decision. Meeting minimal requirements still gives you a likely chance
At NYTG, we prefer that your business have an overall healthy status. This includes being in business for some time, having a good monthly revenue coming in, and making payments on time where it’s due.
A healthy business is vital because it gives the overall summary of how your operations have been running. A good credit score is important but it is not the major key to making or breaking your approval rate for a line of credit.