Equipment financing is the best option to invest in business-related equipment’s . It provides businesses with the necessary funds to buy equipment for business operations, such as computers, machinery, furniture, commercial vehicles, and more. An equipment loan is a type of asset-based financing in which the equipment serves as security for the loan. In addition, once the loan is paid in full, you’ll own the equipment free and clear . Taking out an equipment loan, you will need to make periodic payments (principal and interest) over a certain period of time.
Best for:

• Replacing older or out-of-date equipment
• Adding new equipment
• Businesses that don’t have time for a
  traditional, document-heavy loan