Equipment Finance is a type of finance secured by an asset. For instance, a car, truck, trailer, agricultural machinery or industrial equipment. Lenders provide different types of equipment finance loans and policies depending on the applicant’s profile and the type of equipment being financed. Let’s look at the steps involved when applying for Equipment Finance as well as more detail about the type of finance you will need and the questions you will be asked about your profile.
So what steps are involved? Let US help you navigate the process!
What do you need? Determine the asset you need to buy. Is it one of the following sub-categories or something else not listed here? If your asset doesn’t appear in these categories, please send your scenario to our office using the enquiry form and one of our consultants can guide you through the acceptable assets for various lenders.
How will the asset be used? This will determine what type of finance you need. Ask yourself: Will the asset be used for BUSINESS or PERSONAL use?
Business Use = Commercial Loan
Personal use = Consumer Loan
Now you have determined the Finance Type as Commercial or Consumer, next you can determine the Product you need.
Click the below links to find out more about each product. If you’re not sure what product you need or are entitled to, call our staff for a chat.
What type of client are you? This will determine what Policy you fit into.
Check out our client profile page to see a list of questions the applicant will be asked.
Do you qualify for a Standard or Express policy?
Click this page to find out the criteria.
We consider all our lender’s policies and rates to find the best solution for the applicant, because we work for our referrers and direct clients – not for a particular bank or lender.
Here is a list of documentation that may be required to process your loan application.
LET’S GET STARTED
To finance your way to success today