Call Us & Get Prequalified For Your Loan
First Capital Business Finance
First Capital
Purchasing used equipment is a great way to save money, especially if you have the option to finance the equipment. Although the equipment is not new, that doesn’t matter; it doesn’t stop you from finishing the job and being efficient. Having the ability to purchase and own new equipment might not be an option for all business owners. The price for new equipment can be more than double the cost of used equipment. Even if you were to finance the new equipment, the monthly payment on the equipment would also increase, which will eat into your margins. This is all assuming you would qualify for the financing through the vendor. Most vendors will offer in-house financing programs, and the majority of these programs will require better credit from their applicants.
Programs With No Age Limits
Programs With No Mileage Limits
Programs With No Hour Limits
Programs for Start Up Businesses
Programs for Challenging Credit
Depending on your industry and the type of equipment, buying used might not always be the best solution. Sometimes spending the extra capital is worth the return on investment, especially if it keeps you operating and being efficient. Imagine if you were spending 2 hours a week, fixing or repairing the used equipment you purchased? Let’s pretend the job you were doing, was yielding you $200 per hour, and it was a 2-month project. If your machine was down for 2 hours a week, for the 8 weeks that adds up!
As you can see, just in 2 months your loss in revenue would have reduced your bottom line by $3,200. Maybe if you had newer, or maybe more reliable equipment you wouldn’t have had these issues to begin with. If you choose to go with used equipment, make sure you’re doing your due diligence before making the commitment.
Same Day Loan Approval
Getting the loan you need is simple. Contact us & you can get prequalified for your loan on the same day!
Step 1
Reach out to us via phone or the contact form on this website.
Step 2
We'll contact you to get the information we need to process your loan.
Step 3
You'll receive a decision on your loan shortly (typically the same day).
Now, this also doesn’t mean new equipment is better than used. It simply depends on your business and the type of equipment you’re looking to purchase. For example, buying used technology doesn’t always make sense, especially with the rate of progress in technology we’ve been having the past decade. I don’t think buying used computer equipment would be a good idea, especially if the equipment is a huge part of your business. But maybe if you’re looking to replace a few computers for some data entry workstations, that might be ok and a great way to save on some costs. Your business doesn’t need the newest and nicest equipment in order to improve and complete the work that you do.
The majority of the time, you just need the equipment to start up your business. There’s no need to get the most expensive or the newest thing out there. In many cases, used equipment is an excellent and smart way to start out. The best advantage to this option is that the costs are lower and more affordable when it comes to used equipment financing.
As previously mentioned, having and utilizing brand new equipment doesn’t matter in the grand scheme of things. Having a brand new, sparkling clean set of equipment does not mean that the business utilizing it is better in any way. All that matters is that you get the job done well and efficiently without significant setbacks or problems. Used equipment offers you the same usability at a fraction of the price of brand new equipment. In addition, used equipment is often refurbished by the previous owners, which means that you’re not using something on its last legs.
Whether you run a big or small business, we can work with you to get your business the financing you need. We know the struggles of getting equipment for your business. It is not always easy. We are familiar with the hurdles business owners must face as well as the struggles involved. So, if you’re in need of upgrading your older equipment, then financing for used equipment is a good way to start out. Or, if you’re just starting out your small business, used equipment is a great way to start up your business.
Testimonials
What Our Customers Say
If you’re ready to start on your journey towards securing used equipment for your business, contact First Capital Business Financing today! We can help you and your business to get what you need to succeed in today’s market, whatever your field. Call us today at 888-565-6692 to talk about your financial needs and desires. You can also apply online to get a same-day loan approval. Have any questions or concerns? Talk to Darlene in our online chat feature, which can be found at the bottom right of your screen! Let us help you by getting you the money you need to help your business!
What are the eligibility criteria for used equipment financing?
Can I get financing for equipment that is not in pristine condition?
Do I need to make a down payment for used equipment financing?
What documents are required to apply for used equipment financing?
How long does the approval process take for used equipment financing?
What interest rates can I expect for used equipment financing?
Can I finance equipment from any vendor or dealer?
What happens if the equipment breaks down or becomes obsolete during the financing period?
Are there tax benefits associated with used equipment financing?
What happens at the end of the financing term?
At First Capital Business Finance, we understand that securing financing for used equipment with bad credit can be challenging. That’s why we’re here to offer you a hassle-free solution tailored to your specific needs.
Here’s why you should choose First Capital Business Finance for your used equipment financing:
Specialized Expertise: We specialize in helping businesses like yours secure financing, even if you have bad credit. Our team has the knowledge and experience to navigate the complexities of the financing process and find the best solution for you.
Flexible Options: We offer flexible financing options to accommodate your unique situation. Whether you’re looking for a lease or a loan, we have programs designed to meet your needs and budget constraints.
Quick Approval Process: We understand that time is of the essence when it comes to securing financing. That’s why we’ve streamlined our approval process to ensure you get the funds you need as quickly as possible. With our efficient process, you can expect quick approvals and fast funding.
No Upfront Costs: Unlike some other financing options, our programs typically have no upfront costs. We believe in transparency and making the financing process as straightforward as possible for our clients.
Personalized Service: At First Capital Business Finance, we pride ourselves on providing personalized service to every client. Our team will work closely with you to understand your needs and develop a financing solution that works best for your business.
Don’t let bad credit stand in the way of securing financing for your used equipment.
Contact First Capital Business Finance today and let us help you take your business to the next level!
First Capital Business Finance is committed to helping you meet your cash flow needs to grow your business. We serve small and middle market businesses and large corporations with range of loan and financing options for bad credit
Copyright © 2024 First Capital Business Finance, All Rights Reserved
Same Day Loan Approval