Equipment financing that matches how you use the equipment
Equipment financing lets your business buy or lease the machinery, vehicles and technology it needs while paying over time. Because the equipment itself usually serves as collateral, approvals are often easier and rates lower than unsecured financing, and you keep your cash for payroll, inventory and growth.
Through our network, Miami and South Florida businesses can finance transactions from about $5,000 to $100 million and beyond, with terms up to ten years. Advance rates are tailored to the type of equipment and the strength of the borrower, and terms can be matched to the useful life of the asset.
Equipment finance products
- New and used equipment loans and leases from dealers or private sellers
- Equipment refinancing to lower payments or pull out equity
- Sale-leaseback transactions that turn owned equipment into cash
- Senior term debt for larger equipment-heavy companies
- Lease lines of credit for ongoing equipment purchases
- Cash flow loan structures and asset-based revolving lines
Equipment we commonly see financed in South Florida
Box trucks, tractor-trailers and reefers for logistics companies around Doral and the ports. Excavators, skid steers, lifts and cranes for contractors. Commercial kitchens and refrigeration for restaurants. Dental chairs, imaging and lab equipment for medical practices. CNC machines and packaging lines for manufacturers. Marine equipment for Fort Lauderdale area marine businesses. Salon, gym, printing and IT equipment for service companies.
Industries served
Lenders in our network finance small businesses and middle market companies in aerospace and defense, automotive, construction, distribution, food and beverage, agriculture, general manufacturing, healthcare and medical, marine, machine tools, materials handling, media and entertainment, metals, mining, packaging, plastics, printing, supermarkets and convenience stores, textiles, trade and service, trucking and logistics, and utilities.
Benefits of financing equipment
- Preserve working capital. Take delivery quickly while keeping cash for operations.
- Leverage equity. Use equipment you already own, or the equipment you are buying, as collateral.
- Improve cash flow. Certain lease structures lower your upfront cost and monthly payment.
- Reduce obsolescence risk. Leasing makes it easier to upgrade technology on a schedule.
- Flexible structures. Choose fixed or floating rates and terms that fit your business cycle.
- Possible tax benefits. Equipment financing can have accounting and tax advantages. Ask your accountant how they apply to you.
Loan or lease?
| Equipment loan | Equipment lease | |
|---|---|---|
| Ownership | You own it from day one | Lender owns it, with purchase options at the end |
| Upfront cost | Down payment often required | Often lower or no down payment |
| Best for | Long life assets you will keep | Tech or assets you upgrade often |
| End of term | Equipment is paid off | Buy, renew, return or upgrade |
What you need to apply
For most equipment requests, start with our short application and an equipment quote or invoice. Smaller deals can often be approved on the application and bank statements alone. Larger transactions may also need business tax returns, financial statements and details on the equipment and vendor.