Term Loan
A lump sum at a fixed rate, repaid on a schedule you can plan around.
- Amount
- $20,000 – $1,000,000
- Cost
- From 6%
The six, in full
Equipment Financing
The longest term here, tied to the thing it buys.
- Amount
- Up to $250,000
- Term
- 1 – 5 years
- Cost
- From 8%
- Funded in
- Not published
Equipment financing
What it is
Equipment financing pays for what the business runs on — refrigerators, vehicles, machinery, computers — new or used, and spreads the cost over the working life of the asset rather than taking it out of this quarter's cash.
Lenders usually want a year in business, a credit score around 650 and $50,000 a year in revenue, but the asset does some of the work the credit file would otherwise have to: solid cash flow over three to six months can carry an application that would not stand unsecured.
- When it is the wrong answer
- It is tied to an asset. If you want the money for payroll, stock or a gap in the invoicing, this is the wrong door — and note that the equipment normally secures the loan that buys it, which is the one place 'nothing pledged' does not apply.
What it gives you
When it is the right one
- New and used equipment both eligible
- The longest repayment period of the six
- Monthly repayment rather than daily or weekly
- Open to profiles an unsecured loan of the same size would not be
Apply
Six screens, about fifteen minutes.
About fifteen minutes, across six screens. 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) 527-3391.
The six, in full
Where it sits among the six
Short-Term Business Loan
The same instrument on a shorter runway, for something that pays itself back quickly.
- Amount
- $10,000 – $1,000,000
- Cost
- From 6%
Equipment Financing
The longest term here, tied to the thing it buys.
- Amount
- Up to $250,000
- Cost
- From 8%
Working Capital
Funding for the running of the business rather than for a purchase.
- Amount
- Up to $1,000,000
- Cost
- From 4.5%
Business Line of Credit
A facility that costs nothing until the week it earns its keep.
- Amount
- Up to $1,000,000
- Cost
- From 4.5%
Business Cash Advance
A sum against future receivables, 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. 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 reduce it. Interest falls when the balance falls. Putting a factor beside a rate compares two different things.