Equipment Financing Rates

Equipment financing is essentially a term business loan used to purchase equipment.

Equipment financing rates.

Since the equipment is usually costly equipment financing allows small businesses to access higher amounts by using the equipment as collateral. Equipment loan interest rates. Lock in a low lease payment with agdirect s special lease residuals. If you bought from a dealer at a 5 rate over 5 years your payment would be 1 400 a month.

Equipment financing rates are determined based upon the size of the lease your credit score and payment history and where your business is located. Thus the borrowing amount is directly based on the equipment s price. Special pro put and fpo residuals on new and used grain carts dump carts forage wagons dump wagons tillage equipment and heads cornheads drapers platforms. Equipment loan interest rates typically range between 2 and 20.

Overall equipment financing rates typically range from 4 to 40 varying of course based on the lender your business s qualifications and the equipment you re purchasing. We finance general purpose equipment such as packing machines and office equipment heavy industrial equipment such as manufacturing lines printing presses and stationary machinery construction equipment and commercial vehicles typically greater than 2 5 tons such as heavy trucks and trailers. Special pro and put residuals on new and late model used 2015 or newer combines for a limited time only. Equipment financing average costs.

The higher your credit score the lower your interest rate will. Equipment priced less than 100 000 usually comes with a higher finance rate anywhere from 8 to 20. Take someone financing a trencher for 75 000. This being said the repayment terms on equipment financing are usually five to six years although some lenders may offer longer terms up to 10 years.