Funding

Equipment Financing 

Fast and simple from start to funding.

Equipment Financing Request

Equipment Financing Request

Please complete the fields below and a representative will reach out promptly to review your financing request. This is not an application for credit from Twelve31, Inc. Submitting this form will not affect your credit score. Twelve31 will use the information below for the purpose of prequalifying you for potential financing.

Business Entity Address
Business Entity Address
City
State/Province
Zip/Postal
Country
Please be as detailed as possible. For example, if purchasing a business please list your experience, available down payment, and what assets (i.e. real estate, equipment, etc.) are included in the purchase.

Acknowledgement

When you select “I agree” and click the “Submit” button below, you represent and warrant to Twelve31 and its successors and assigns (“Twelve31”) that you agree to the terms of the ESIGN Consent and Twelve31 Terms, Conditions and Privacy Policy and that you are authorized to enter into such agreements and to submit this loan inquiry. You acknowledge that Twelve31 may conduct a soft credit inquiry to the credit bureaus for the purpose of determining your eligibility for potential financing, which will not affect your credit score. If you pre-qualify for credit and you decide to move forward with the loan approval process, you will then authorize Twelve31 or the applicable third-party lender to submit a hard pull credit inquiry. You also understand and agree that completing this loan inquiry does not commit Twelve31 or any other lender to provide the requested financing but is a step in Twelve31’s referral process. You understand that your loan inquiry may be denied if the proposed lenders decline the opportunity to finance the requested loan. By submitting “I agree” you also authorize Twelve31 to add you to Twevle31’s marketing lists, including email marketing lists, for purposes of receiving future communications and announcements. You understand that Twelve31 is a broker and may be acting as an intermediary to facilitate the requested loan and you agree Twelve31 may refer and share your loan inquiry, data, and documents with such third-party lenders. You authorize Twelve31 and any third-party lenders to whom we may refer your loan inquiry to contact you at the telephone number and email address you provide to us. Twelve31 is not affiliated with and is not endorsing any third-party lender to whom we may refer your loan inquiry. You acknowledge and agree that you must do your own independent due diligence to determine if the proposed loan from the third-party lender is appropriate for you.

I agree with the above acknowledgement
FAQ

Equipment Financing FAQs

Getting an equipment lease or financing can help you fund a variety of business needs. This financing solution can be used for things like: 

  • Vehicles
  • Heavy machinery
  • Restaurant appliances
  • Medical equipment
  • Office furniture
  • Technology systems

Regardless of your company’s industry, exploring your equipment finance options could help the success of your business. Plus, equipment lenders usually report to business credit. The more business credit you build the greater opportunity you have in the future to receive the best rates and terms for the money you receive and increase your businesses ability to receive future loans without a personal guarantee.

The largest difference between an equipment lease and equipment loan are that an equipment lease has a fixed term, in which you pay a monthly rental feel, with no prepay benefits, and an equipment loan can be paid off at any time with any remaining interest wiped clean. 

There are multiple structures available for equipment leasing including:

  • Equipment Financing Agreement: Fixed payments are made over a set term after which you own the equipment in full.
  • Fair Market Value: Fixed payments are made over a set term after which you can return the equipment, renew the lease or purchase the equipment at fair market value. 
  • Purchase Upon Termination: Require the customer to purchase the equipment at the end of the lease term at a certain percentage of the original purchase price.

Equipment financing is a type of funding that gives you full ownership of the equipment. You’ll pay interest in addition to the principal balance, usually as a fixed monthly payment. But once your financing  term is over, you own the equipment free and clear. 
Choosing the best equipment financing option depends on the type of equipment you need, how long you expect to need it, and how frequently you plan to update those assets. 

One of the biggest advantages of equipment financing is that it helps you grow your business with new equipment while spreading out the costs over time. Additionally, you often don’t need any collateral besides the asset itself. By integrating new equipment into your business, you could increase revenue and reach with your services. 

A drawback is that funds can only be used for equipment and sometimes soft costs associated with the purchase, such as taxes or delivery fees. Other types of financing, such as a small business loan or business line of credit, have minimal restrictions on how you use the funding proceeds. 

Pros of equipment financing

  • Scale your business
  • Spread out large capital costs
  • No additional collateral needed
  • Equipment purchases may be eligible for a tax deduction

Cons of equipment financing

  • Use restricted to equipment

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