Can I Finance New and Used Equipment With the Same Lender?

Can I finance new and used equipment with the same lender? :

Yes, you can finance both new and used equipment with the same lender. Many lenders offer flexible financing options that cater to both types of equipment. For example, Crest Capital provides funding for both new and used equipment, offering loans up to $500,000 with repayment terms ranging from 24 to 72 months. It’s important to check with the lender for specific terms and conditions related to financing used equipment, as they may differ from those for new equipment. Always ensure that the financing terms align with your business needs and financial situation.

Can I finance my entire purchase with a bank loan? :

Yes, it is possible to finance your entire purchase with a bank loan. This is often referred to as a “whole loan” in the financial industry. Whole loans are single loans that cover the entire amount of a purchase, and they can be used for various purposes, including business acquisitions and equipment purchases. Lenders may offer whole loans that are kept in their portfolios or sold on the secondary market to investors.

When considering financing an entire purchase, it’s important to understand the terms and conditions of the loan, such as the interest rate, repayment period, and any additional fees. It’s also crucial to ensure that the loan aligns with your financial strategy and the specific needs of your business.

For more detailed information on financing options and to find the best solution for your situation, you may want to consult with a financial advisor or explore resources that provide insights into business acquisition financing and purchase order funding.

Categories: bank loan, Equipment, finance, Lender