Commercial Equipment Financing
Mortgage Brokers in Abbotsford, British Columbia
Equipment finance is a loan or lease used to acquire business equipment. Equipment includes restaurant ovens, medical equipment, or company vehicles. When you go for an equipment loan, you’ll have to make regular payments, including interest and principal, over a fixed term. You have two primary equipment financing options: obtaining a loan to purchase or leasing equipment.
Whether buying or leasing is a way to go usually relies on the type of equipment financed and the borrower’s capacity to get a loan at fair terms. Equipment finance will be excellent for those businesses that are finding it difficult to obtain finance because the equipment is utilized as security. If you fail to repay a loan, the equipment can be taken away by the financial institution or leasing company as the ownership rests in their hands.
Some of the benefits of equipment finance:
- Mostly the financial institutions will give pre-approval in equipment finance so that it will be a simple process for the borrowers.
- It can allow you to get the necessary equipment for your business to grow.
- Flexible loan options are given to customers to pay the amount as per their budget and convenience.
- Interest rates proposed are competitive and shall depend on the repayment record and creditworthiness of the borrower.
How can we help?
Anchor Mortgages Canada LTD Equipment Finance Division delivers comprehensive financial solutions for equipment financing and leasing. With years of experience in the financing industry, we have the understanding and expertise that allow us to suggest solutions and structures tailored to clients’ company’s unique situations, needs, equipment types and objectives. If you want to learn more about equipment finance, contact us today and ask to speak with one of our experts.