Equipment Loans

7.99%

Starting rate of interest

About Equipment Loans

AMP Advance’s equipment loans for businesses can assist in upgrading equipment that will increase sales, and be a source of growth. Our Equipment loans offer small business owners a swift, cost efficient and effective means to finance any equipment needed for your small business operations

Benefits

Drawbacks

Quick Facts and Requirements

Find out about our Equipment Financing options today

Loan Amount

$5,000 to $5,000,000

Loan Term

Up to 10 Years

Interest Rate

Starting at 7.99% APR

Time to Funds

Up to 5 days

Payment Frequency

Weekly or Monthly

Equipment Loan FAQs

Many small business owners hear about equipment financing and think of big excavators and tractors. Yes, construction equipment is totally financeable – but so is a bunch of other stuff. With equipment financing, the loan amount you qualify for depends on the value of the equipment you are purchasing. The equipment also serves as collateral for the loan, so the lender can seize it if you fail to repay the loan. Big or small, from kitchen equipment to sophisticated computer servers we can provide small business owners a fast and effective means to finance any type of equipment that you may need for your small business.

At AMP, we want to make sure that getting your loan is as swift and painless as possible. To get your loan approved more quickly, we recommend having the following information readily available: tax returns, business checking account with most recent 4 months of statements and a dealer invoice / quote of the equipment you will be purchasing.  We have seen the best results for applicants with at least a 650 FICO score, and an established business of at least 1 year. However, if you don’t fit within these criteria and need an equipment loan for bad credit, don’t worry we can still accommodate you, contact us today and we can help you qualify!

Many different types of businesses apply for equipment loans. Whether you’re a startup company in need of a 3D printer or an established radiology clinic in need of a new MRI, equipment funding is a great option to get the equipment you need without tying up all of your capital. The options of what you can use equipment financing for are virtually endless, you can even use equipment loans for your small business to finance furniture and increase the appeal of your new company’s headquarters to clients. Equipment financing allows businesses–both small and large–to free up cash and get money making equipment quickly.

Equipment loan rates are determined using several different factors. No two businesses are exactly alike, so we use your credit profile, revenue, down payment, and equipment purchase value to help us assess your company and determine your loan rate. At AMP Advance, we offer rates as low as 7.99% APR on one to ten year repayment plans. While you are paying interest on your loan, there are also returns on your investment when you use an equipment loan. These benefits include things such as tax savings and increased revenue due to your upgraded or new equipment. To get an estimate on what your equipment financing rate and monthly payment might be, use our free equipment loan calculator.

The benefits of using an equipment loan to finance your equipment needs can be monumental. Whether you’re a large scale corporation or a small mom-and-pop business, an equipment loan can help to build your company’s revenue faster by quickly getting you the equipment that you need to succeed. On top of your ability to make more money, you’ll also receive great tax benefits and have leaseback options. In addition, you you could qualify for our no money down option to receive an equipment loan through AMP Advance, so you can use that capital to build your business elsewhere. 

Ready to grow your business?