How Does Equipment Financing Work?

The equipment is the collateral. That's the whole idea. An equipment loan or lease is secured by the truck, machine, or system you're buying, so lenders lean less on real estate or a long track record than a bank would.

Equipment financing fits a business that needs a specific asset to take on more work: a contractor adding an excavator, a clinic adding an imaging machine, a shop replacing a CNC mill. New and used equipment can both qualify, though lenders look harder at the age and resale value of used gear.

What the lender checks: your credit, how long you've operated, the vendor quote or invoice, and whether the asset holds its value on resale.

Before you apply, gather the vendor quote, your recent bank statements, and your most recent tax return.

SixtyFour West places your deal with lenders whose rules it fits.

Apply with SixtyFour West