TD offers several short-term loans, lines of credit, SBA loans and equipment financing to small businesses located in the East Coast. They have stringent borrower qualifications but their interest rates are low. Be aware that your existing business relationship with TD will be one of the bigger determining factors.
Pros Suited for small businesses Suited for mid-sized businesses Cons Fair public reputation High interest rates Overview Balboa is a California-based alternative business funder offering both short-term working capital and equipment financing. This review focuses on Balboa’s equipment financing products. Though Balboa is both well-established and flush with cash, the company seems plagued by an […]
Pros Moderate interest rates Relaxed credit score qualifications Cons Opaque terms and fees Overview National Funding is a California-based company that provides alternative funding to small businesses, particularly those with poor credit. Though the funder provides short-term loans and merchant cash advances as well, this review will focus on their equipment financing products. National Funding’s […]
Pros Transparent terms and fees Good public reputation Cons (Potentially) high interest rates Overview eLease is a Florida-based online funder. Though its primary focus is equipment financing, the lender began offering working capital after the 2008 financial crisis. eLease’s equipment financing options include both leases and loan-like equipment financing agreements (EFA), the latter of which […]
AgDirect is an Omaha, NE based equipment financing program offered by a network of specialized lenders called the Farm Credit System (FCS). AgDirect is a convenient way to access the benefits of the Farm Credit System quickly and easily, and should probably be somewhere near the top of an agribusiness’s options.
Pros Suited for large businesses Cons Opaque terms and fees Fair public reputation Overview Wells Fargo is an international bank and financial services holding company based in San Francisco; is one of the largest banks in the world. It is also currently the country’s largest equipment financer. If you can meet Wells Fargo’s borrowing prerequisites, […]
Chase Equipment Financing is a financial service offered by Chase Bank to mid-sized and large corporations through its business and commercial divisions respectively. It is ideal for large businesses. Be cautious about their scandal-ridden behavior and persistent customer service issues.
Without weight machines, treadmills, exercise bikes, and barbells, your gym or fitness center is just a big, open room with a bunch of rubber mats. While there’s nothing wrong with calisthenics, you’ll probably want to lure in your fitness fanatics with some exercise equipment. That leaves you with the question of whether to rent gym equipment, […]
Most businesses need equipment to run their operations at full capacity. What they may not have at any given time is the ability to buy all the equipment they need out of pocket. Borrowers with bad credit may worry that they’ll be locked out of the financing they need. This post takes a look at some of the challenges borrowers with bad credit may face in trying to get equipment financing — and some of the equipment financing solutions they can use to get around them.
CIT Direct Capital is an online funder offering working capital, equipment financing, and franchise financing to small businesses. They prefer to work with entities that have been in business for at least two years. Even though their rates are reasonable, they have stringent borrower qualifications. Be aware of the high number of complaints about the company filed with the BBB.