Almost every business has the need for financing equipment at some point in its life cycle. The types of equipment to be financed are as varied as the businesses that acquire the equipment. Typically, equipment loans are secured solely or in part by the fixed assets being acquired and structured as a term loan repaid from the customer's cash flow.
Equipment acquisition loans are typically set as individual term notes, uncommitted lines of credit (guidance lines of credit) or committed lines of credit (client is provided a commitment letter and the funds are available during the funding period).
CNF Exchange: The Better Equipment Loan Alternative
One way you can attempt to secure equipment loans is to visit local banks in your area. A more practical and effective alternative is to register for free with CNF Exchange.
We’re an online community of nationwide lenders and borrowers designed for the sole purpose of finding the perfect match between the two. Lenders can anonymously and discreetly examine a variety of borrower requests. As a borrower, you’ll benefit from having several lenders vying for your business.
Borrowers also receive plenty of additional advantages unavailable through the traditional lending process:
- Assistance from a dedicated senior analyst to help them prepare their loan request
- Accurate business plan and financial projection preparation with the aid of our automated projection template
- Free site registration and access
- Unlimited phone and chat support whenever you need it
- Press Room where you can promote your successes and network with other members
- Rewards Program to gain free advertising
- Secure document uploading and sharing feature