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EQUIPMENT FINANCING
Equipment financing helps you purchase equipment for your business and keep more cash on hand. The rate and term for these loan types are competitive. The purchased equipment serves as the collateral. Equipment financing allows you to keep more cash on hand for your business.
Pros:
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After payments complete, you have the option to own the equipment
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Monthly repay back and longer terms.
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Section 179 tax deduction
Cons: ​
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600+ personal credit scores
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May need a down payment to qualify
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High monthly sales and longer time in business preferred
Best for:
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Businesses in need of equipment with competitive financing rates and terms
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Businesses who want to purchase high-cost equipment
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Businesses keeping up-to-date with the latest equipment
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