No matter what industry you’re in, you’ll probably need to purchase equipment pretty regularly. But new equipment costs money, and it can be impossible for many small businesses to afford upfront purchases of equipment just when they need it. It’s a classic case of needing money to make money.
Luckily, equipment financing is here to help. The business loan application process for equipment financing is actually easier than the one for traditional loans, but let’s walk through what requirements you can expect.