Equipment Loan Calculator
Learn More About Equipment Loans & Payment Factors Using our Equipment Loan Calculator
Equipment Loan Calculator - Equipment financing and leasing is the process of acquiring business equipment by small business owners using funds that have been provided by a financial institution. With this financing option, the equipment being financed is the collateral put up to receive the funds. Approval of equipment financing and leasing is quite easy meaning you can finance anything from doctor's office machinery to oil rigs using our equipment loan calculator.
Equipment Financing and Leasing Amount
Equipment financing and leasing is offered to small business owners in amounts up to $6,000,000. Borrowing amount relies greatly on the type of equipment being finances, the overall assessed value of the equipment being financed, and if the piece of equipment is new or had been previously used. The amounts being lent vary from industry to industry and AMP Advance provides funds to all industries and we specialize in industry-specific loans in order to be able to provide equipment financing and leasing options to all small business owners.
Equipment loan and leasing terms are generally twelve to seventy-two months in length. However, if the return on the investment is large many businesses pay off their equipment loan early, earning them a large discount on the cost of the funds. Term lengths are not one size fit all, all equipment loan and equipment financing options are tailor fit to each client differently.
Equipment loan interest rates are generally two to twenty percent. The observed variances in set interest rates is largely due to catering to all small business' needs. From tractors to MRI machines, we see it all and have to determine our rates guided by a small business owner's credit score and length of time in business. Complete our application and we will give you a good idea of terms and rates within 24 hours.