Empower Your Business with the Right Tools, with Equipment Loans from Loanie.

A business asset or equipment loan is financing specifically designed to help businesses purchase income-generating assets like machinery, vehicles, or technology. The loan is often secured by the asset itself, making it easier to access funds while spreading the cost over time with manageable repayments.

Equipment loans can be used for a wide range of assets, including manufacturing machinery, vehicles, computers, medical equipment, construction tools, and office furniture. As long as the asset contributes to business operations or revenue generation, it is typically eligible for financing.

Yes, many lenders allow financing for second-hand or used equipment, as long as it meets certain criteria, such as age, condition, and valuation. This can be a cost-effective option for businesses looking to save money while acquiring necessary tools or machinery.

There are many lenders that does not require financials, as long as you meet their criteria. In addition, you’ll typically need identification and details about the asset being purchased (e.g., invoice or quote).

Depending on the lender, additional documents like bank statements or a business plan may be required to demonstrate your repayment capacity.

Yes, startups can apply, but lenders may require more extensive documentation, such as a detailed business plan, cash flow projections, and proof of revenue. A strong case showing how the asset will generate income or improve operations can increase approval chances.

Defaulting may result in the lender repossessing the financed asset, as it serves as collateral. This can disrupt your business operations. Defaults also negatively impact your credit score. Communicate with us immediately if repayment difficulties arise to explore possible solutions.

If require, don’t hesitate to ask us about consolidating or re-financing your asset loan.

Loanie specializes in helping businesses with various credit backgrounds. Even if you’ve faced credit challenges, we can explore options to help your business thrive.

Equipment loans spread the cost of high-value assets over time, reducing the need for large upfront payments. This approach keeps cash flow steady, enabling you to cover other expenses like payroll or inventory while still acquiring the tools needed for growth.