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Most businesses can qualify for equipment financing loans.
Equipment financing can be a great option if your credit rating is less than perfect, too, since the equipment acts as collateral. At Big Tex Capital we’ll help your business get the tools they need to get the job done.
What is Equipment Financing?
Equipment financing helps you finance up to 100% of the new or used equipment you need for your business. Applying for an equipment loan is typically a fast and easy way to finance the purchase of most types of equipment—computers, machinery, vehicles, or whatever else you need.
Up to 100% of Equipment Value
Big or small, basic or complicated whatever you need, we’ll help you cover the costs. At BigTex, construction equipment is totally financeable.
Loan Term is the expected life of equipment
No down payment or collateral? No problem. One of the big benefits of equipment financing is that your equipment can also act as your collateral.
Interest Rates between 8%-30%
The tradeoff is worth it for businesses that can’t afford a large, upfront expense or don’t want to deplete their cash with such a huge one-off purchase.
Get Your Cash as fast as 2 Days
Big Tex Capital will see that your equipment get purchased within two days so that you can start or continue your project as planned.
Who Qualifies for Equipment Financing?
Equipment financing can be a great option if your credit rating is less than perfect, too, since the equipment acts as collateral. In fact, BigTex’s lenders are just as concerned with what’s securing their loan as with your borrowing history. So, if you’re planning on investing in a high-value (and value-retaining) piece of equipment with your small business equipment loan, then equipment lenders might be willing to work with you, even if your finances aren’t pristine.
How to Apply for Equipment Financing?
A business equipment loan application can be a simple process, depending on the equipment lender you’re working with. You’ll likely need to provide your credit score and prove the financial health of your business with tax returns and bank statements. On top of this, equipment lenders will typically ask for information about the equipment you’re purchasing with the financing. That’s why most equipment financing applications will require an equipment quote, or equivalent documentation of the equipment cost.
How Do Equipment Financing Work?
Sometimes you just need that new piece of equipment or machinery to rev up your business growth and start bringing in more revenue. When your business needs a certain piece of equipment to get started or reach the next level, a small business equipment loan could be the right move for you, especially when you don’t have cash on hand to purchase the piece of equipment upfront.
What Will Equipment Financing Cost You?
With equipment financing, the thing to keep in mind is that it stops you from needing to pay the entire cost of that equipment upfront. Instead, you’ll pay it off in regular installments, just like any other term loan. You’ll be paying more total money with an equipment loan than you’d pay if you purchased the equipment outright without financing.
Big Tex Makes It Easier!
We know how much time it takes to run a business, so at Big Tex Capital we help you get a business loan in less time than our competitors. The team at Big Tex Capital will help you with the following:
SIMPLE APPLICATION STEPS
Big Tex Capital has designed and developed an all in one online Application that you can complete in just minutes. Sign and upload with your finger!
ACCESS TO MULTIPLE LENDERS
Big Tex Capital has partnered up with over 100 lenders to try to find your business the best possible loan and the most competitive rate.