Equipment Financing in Los Angeles
Providing your business leverage for growth and expansion
Business Finance for your machinery
Restaurant in need of a new refrigerator? How about a factory that requires modern machinery? As a business owner, you’re bound to run into equipment that needs upgrading. If you’re just starting out, it’s unlikely you have the budget to fund such an expense. These costs can often be sizable depending on the industry, but that’s where equipment loans in LA come in.
JSV Capital can provide you with the fast working capital needed to grow your business. We work to help companies across all circumstances fulfill their equipment needs. No matter if it’s for your office, retail location or factory, we’ll find the ideal solution that will help keep your business running smoothly.
What Is Equipment Financing?
In simple terms, equipment financing refers to a loan or lease obtained by a business owner in order to purchase equipment. The variety of equipment this financing option covers includes a wide range from office furniture to restaurant machinery, company vehicles and more. This type of funding includes the cost of renting or purchasing the equipment, collateral and comes with term lengths that reflect the lifespan of the equipment.
How Equipment Financing Works
There are two options for equipment financing—leasing equipment or obtaining a loan. These financing options share similarities but JSV Capital will help you figure out which option is best for your business. This can depend on certain eligibility factors such as your credit score or how long you intend to use the equipment.
When leasing equipment, the lender buys the equipment and then leases or rents it back to you. The cost of rent is usually set at a flat rate and comes with fixed terms. The rates can vary depending on the lender and your credit rating. At the end of the lease, you may be eligible to purchase the equipment at market value.
An equipment loan only provides the amount of funding that’s needed to purchase the equipment. This ensures that business owners are only paying for the equipment while it is in use. Upon repayment of the loan, you will be the owner of this equipment. It is then up to you if you’d like to sell it back to the lender for another upgrade or for quick capital.
Common Uses For Equipment Financing
Although true to its name, business owners still have questions and concerns regarding what equipment financing can and can’t be used for. If you’ve been considering this type of financing for your business but are uncertain as to whether or not it will meet your companies needs, here are the most common uses across all industries:
Commercial Fleet Leasing
When it comes to financing vehicles for business purposes, this can include everything from a commercial truck to a semi-truck, van or passenger vehicle. The options for leasing can include new or used vehicles but will ultimately provide utility and a better user experience.
Restaurant Equipment Financing
What’s it going to take for your restaurant to reach its fullest potential? For starters, making sure that your only spending money on things you actually need. Financing new or used commercial kitchen equipment ensures the safety of your customers as well as the long-term success of your business.
Office Equipment Financing
Updated office equipment can not only improve the productivity of your employees, but it can also give your business a competitive edge. Upgrading to the latest technologies can include purchasing new computer systems, phones or even furniture. Whatever it takes to make the workplace a more comfortable environment for all.
Construction Machinery Loans
When owning a construction company, you need to have the right equipment for the job. Many of these tools are large in size and come with a hefty price tag. If you need to upgrade or replace your equipment with current models, JSV Capital fulfills your needs with a financing solution tailored to your business.
Medical Equipment Financing
In the fast-paced medical industry, equipment financing is essential to giving your practice a leg up on the competition. Investing in new, modern equipment allows you to offer the latest treatment and testing options. In turn, this can help bring in new customers while retaining old ones. This could also result in increased cash flow without eliminating your reserves.
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What Do I Need to Qualify for a Loan?
How to Apply
What Do I Need To Apply For Equipment Financing?
Qualifying for equipment financing is not as difficult as qualifying for other types of financing. To apply, a lender may require that you’ve been in business for at least a year. In addition, you’ll typically need to have a credit score of 550 or higher and at least $180,000 of annual income. The collateral comes from the equipment itself and lenders are usually willing to provide up to 100% of the equipment’s value. Therefore, you don’t have to secure the funds using your own means.
How Much Cash Can I Get?
If you’re wondering how much funding you can expect to receive with equipment financing, the amount will depend on a number of factors. One is how much money your business is currently taking in. Therefore, the range will vary. To learn more, speak with our specialists at JSV Capital about your financial needs.
Get Your Equipment Loan Today
JSV Capital is an equipment financing company that believes in putting our customers first. That’s why we offer a seamless and quick application process for loans. If you’re getting a commercial machinery loan to finance your business equipment, you can get up to 100% of the value. We don’t make our customers jump through hoops for approval. You can get assistance from our experienced loan experts without any obligation to get started.
Inquire about our Business Loan programs.
We are one of the most trusted sources for merchant cash advances. Unlike most lending companies, JSV Capital provides access to quick and affordable small business funding options for all types of businesses.
Like you, JSV Capital is a small business, and we take pride in helping our neighbors secure the financing they need to grow and achieve success. Contact a reputable loan consultant at JSV Capital about how we can help you and your business get funding today.
Apply for Commercial Equipment & Machinery Business Financing
No cost to apply. Applying will not impact your credit score.