Memphis Equipment Financing
If you need equipment financing in Memphis, you've come to the right place. At Equipment Financing Solutions, we understand businesses need access to quality equipment to succeed. We offer various financing options to help you get the necessary equipment.
We offer both leasing and loans for all types of equipment, including:
- Agricultural Equipment
- Commercial Equipment
- Construction Equipment
- Industrial Equipment
No matter what type of equipment you need, we can help you get the financing you need to get it. We work with various lenders to get you the best rates possible. We also offer flexible repayment terms to fit your budget.
If you're ready to get started, contact us today. We'll help you get the necessary equipment to take your business to the next level. Equipment financing is our specialty; we're here to help you succeed.
What is Equipment Financing?
Equipment financing is a type of lending that allows businesses to purchase equipment and pay for it over time. This can be a useful option for businesses that need to update their equipment but may not have the upfront cash to do so. Equipment financing can also help businesses keep their monthly expenses low by spreading the cost of the equipment over time.
Equipment financing is a good option for businesses that don't have the upfront cash to purchase the equipment outright. It can also finance the purchase of new or used equipment. Equipment financing typically has a lower interest rate than a traditional business loan, making it a more affordable option for businesses. Equipment loans are typically repaid for 2-5 years, depending on the loan's terms.
Equipment financing can be used to purchase a wide variety of equipment, including:
- Manufacturing equipment
- Office furniture
- Computers and software
Terms of Heavy Equipment Financing:
What is a down payment? Down payments are the cash payments or trade-ins an individual has to make on top of the purchase price of the equipment. These can come from selling something unnecessary, liquidating stocks and bonds, or selling assets such as life insurance or investment portfolios. They are paid directly to the heavy equipment lender for the privilege of getting financing for their new piece of heavy equipment.
Trade-Ins: Some heavy equipment lenders accept trade-ins on the heavy equipment, but most will not. Equipment previously owned and operated is not a great option for those looking to qualify for financing, but sometimes it is the only way for people to buy heavy machinery. The trade-in value should be compared to the amount owed on the old piece of heavy machinery to help determine if it's worth trading in and how much money will be needed to finish the transaction when selling the old equipment.
Interest Rates: Like most other lending institutions, heavy equipment lenders offer a variety of interest rates to their customers. Knowing the interest rate, you will be charged before starting the application process is important. Some heavy equipment lenders charge a flat rate that doesn't change over the loan's lifetime, while others charge yearly or monthly rates that are susceptible to change along with changes in the prime lending rate. Ask the lender for a specific rate before starting a loan application, as most will not quote rates over the phone or email.
Down Payment: Unlike other lending institutions, heavy equipment lenders require a large down payment from those looking to finance their equipment. The amount of down payment required varies with each lender and is taken directly out of the total price of the equipment. Depending on how much money you have available and if you have enough capital to cover this amount, deciding whether or not to apply for heavy equipment financing may be an important decision.
Repayment Terms: Depending on the lending institution and the options available, you may be able to finance a loan through monthly payments instead of a lump sum. The negotiated rate offered will go up if payments start on time and will decrease if payments are late. Many lenders offer low-interest rates to those who can make installments instead of taking out a lump sum. It's important to confirm whether or not an installment plan is available with the heavy equipment lender before deciding whether they are right for your needs.
Businesses utilize equipment financing to purchase business-related equipment. Obtaining these assets can be through equipment leasing or equipment financing, which doesn’t require businesses to pay out of pocket large amounts of cash. Ultimately freeing up working capital within the business.
Benefits Of Equipment Financing
Low or NO down payment
Tax benefits (section179)
No Minimum FICO
No Minimum Time in Business
No Minimum Revenue
Amount Of Loan
Loan Amounts: $10,000 – $5 Million
Terms: 1-5 Year Terms
Funding: 1-5 Days
Our Financial Solutions
Find the right loan for your needs
Memphis Manufacturing Finance
Our Memphis Manufacturing Finance offers manufacturers access to a wide range of credit products and services to help them finance their manufacturing activities. We offer financing options, including working capital loans, line of credit products, and term loans. Our team of experienced financiers can help you find the right financing solution for your business.
Memphis Trucking Finance
Truck financing can be a great option for those who need a Vehicle loan, but they should be cautious of companies that do not have high credit ratings. Our Company has a good credit rating and is one of the most reputable truck finance companies in the area. We are confident that you will be able to get the best truck financing deal possible.
Memphis Agriculture and Firm Loan
World Finance Agriculture and Firm Loan offer customers a solution for financing their agricultural or firm projects. The loans are available in various terms and are backed by the USDA. The loans can be used for various purposes, such as purchasing land or equipment, starting a business, or expanding an existing business. The loans offer customers low-interest rates and flexible terms that allow them to get the money they need quickly and easily.
Memphis Car Loan
Our Memphis Car Loan Finance can help you get the best car loan deal possible. The World Finance team near me has years of experience in the car loan industry, and we know how to find the best car loan for you. We make the process easy and hassle-free so that you can get your car as soon as possible. Our services are reliable and affordable to get the best car loan for your needs.
Memphis Bridge Loans
Our Bridge Loans Services are the perfect solution for people who need a short-term loan but don't have the time or money to apply for a traditional loan. Our service is fast and easy and doesn't require any paperwork or credit checks. We also offer competitive interest rates and flexible payment options, so you can get the money you need as quickly as possible.
Memphis Construction Loan
We understand that timing is key to getting the money you need for your construction project. That's why we offer our Construction Loans services - you can get the funding you need as quickly as possible. Our loans are available in various terms, and our team of experts will work with you to find the best option for your needs. With our help, you'll get the money you need to start your project - and keep moving forward on schedule.
Memphis Short Term Loan
Our short-term loan services give customers quick and easy access to money they need to tide them over during tough times. World Finance offers various loans tailored to meet our customer's needs, including payday, personal, and car loans. Our products are designed to give our customers the flexibility they need while keeping their finances safe and secure.
Memphis Long Term Loan
Our long-term loan services offer customers a convenient and affordable way to borrow money over time. Businesses get the money they need to cover short-term or longer-term commitments. World Finance offers a variety of loan options, including fast approvals and flexible terms that make it easy to get the money you need. Our customer service team is available 24/7 to help you get the best loan for your needs.
Why Choose Our Equipment Financial Services Company?
If you're in the market for equipment financing, you may be wondering why you should choose our company. Here are four reasons that we believe set us apart from the competition:
1. We have a long track record of success. Our company has provided equipment financing solutions to businesses for over 10+ years. This experience gives us a deep understanding of businesses' challenges when acquiring equipment.
2. We offer competitive rates and terms. We understand that every business is different, so we offer a range of financing options to meet your specific needs. We also work hard to get you the best possible rates and terms on your loan.
3. We have a team of experts to help you. Our Equipment Financing Specialists are here to help you through every step, from finding the right financing solution to completing the paperwork.
4. We're a one-stop shop. In addition to equipment financing, we offer various other financial services to businesses, including working capital loans and lines of credit. This means we can be your one-stop shop for all your business financing needs.
We believe you've found it in us if you're looking for a reliable, experienced, and customer-focused equipment financing company. Contact us today to learn more about our equipment financing solutions and how we can help you grow your business.
Our 3 Step Process:
Fill out our Quick Apply application.
2. We review your application
We review your goals and present you with programs matching your needs, getting an offer in 24 hours.
3. Receive funding
Choose the program that fits you best and receive funding within 48 hours.