An equipment line of credit is a lump sum of funding you can draw from whenever you need to purchase equipment or cover the cost of equipment maintenance and repairs.

Equipment financing, also called an equipment loan, is a lump sum of funding you can use to purchase equipment. You repay what you borrow, plus interest, over a set period. You will own the equipment once you have made all the payments during the term.

Equipment leasing is a financial arrangement in which you acquire the right to use (rent) equipment without buying it outright. There are several lease terms to choose from, and you will make regular lease payments, plus interest, throughout the term. Lastly, several end-of-lease term options are available, and your Loyal Equipment Finance account manager will discuss them with you.

The amount your business may qualify for will depend on several factors, including your credit score, time in business, and annual sales revenue. If you are eligible for funding, your borrowing limit will be determined after you submit a business funding application.

No. As a private lender, Loyal Equipment Finance offers more flexible borrowing requirements than traditional banks and lenders, so we can often approve applicants with less-than-stellar credit.

We structure equipment credit lines up to $10 million and application-only equipment financing and equipment leasing up to $500,000.

Loyal Equipment Finance makes applying for business funding simple and hassle-free. You’ll need basic business and personal information to apply, along with the bank statements from the past three months. We need the equipment quote or invoice if you want to apply for equipment financing or equipment leasing.

One of the main advantages of choosing Loyal Equipment Finance for equipment funding is our quick turnaround times. We can fund approved deals in specified amounts on the same day the application is submitted, as long as we have the required signed documentation and it falls within our regular business hours.

We require that your business be under current ownership and operating for at least two years.