Equipment Financing FAQ

Get answers to frequently asked questions about equipment financing.

Questions about equipment financing? We have answers.

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Equipment financing is a popular way of getting business equipment, vehicles, software, technology, etc. You borrow money from a lender to finance equipment, and you make periodic payments that include interest, fees and principal over a specific term. Equipment financing is also referred to as an equipment loan.

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Countless types of business equipment can be financed, including commercial vehicles, computers, office equipment, machinery, software, furniture, fixtures and technology.

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Absolutely. You can finance used business equipment with Balboa Capital. Used equipment can get the job done right, plus save you money in the process. For these reasons, small business owners in every industry opt for used equipment.

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You can apply for equipment financing through our secure website. Once we receive your application, it will be reviewed by our credit team during our normal business hours. One of our account managers will then contact you to discuss the next steps and answer any questions you might have.

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Most equipment financing deals are written for 24, 36, 48 or 60 months, depending on the type of equipment and its cost. Financing terms are typically shorter for low-cost equipment or equipment that depreciates quickly. 

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This is one of the most common questions that small business owners ask, and for good reason. Like you, they want the lowest possible rate. The rate you get will depend on several factors, including your credit profile and annual revenue, the amount of funding you need, and the term length you want.

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When we say fast funding, we mean it. Over 96 percent of our approved equipment financing deals are funded on the same day during our normal office hours, so long as we have all of the necessary signed paperwork. 

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One key benefit of choosing Balboa Capital for equipment financing is that you can finance equipment from most vendors in the United States. Our company works with thousands of equipment vendors in just about every industry, so we know how to accelerate the process and save you time. Once you have picked a vendor, just select the equipment you want and let us know how much it costs, and we will do the rest.

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In many cases, yes. If the equipment you finance qualifies for the Section 179 tax deduction, you can deduct the monthly payments from your taxable income. Not all types of equipment are eligible, and there are certain IRS requirements that need to be followed. So, make sure to consult with your tax professional prior to making an equipment purchase.

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Good question! Balboa Capital is a top-rated business lender that offers equipment financing. We offer you a number of benefits, including easy approval requirements, competitive rates and fast turnaround times.