Equipment Financing Business Plan

Secure the Equipment You Need to Grow Your Business

Looking to finance essential equipment for your business? Mikel Consulting provides custom business plans designed to support your equipment financing application, ensuring you get the funds necessary to acquire or lease equipment. Whether you're a startup or an established business, we’ll help you secure the financing needed to grow and scale.

Mikel Consulting's Record of Success

  • 4,000+

    Business Plans

  • $0.9B+

    Bank Loans Secured

  • 97%

    Success Rate

  • 100+

    Trusted Partners

  • 90+

    Client Countries

What is Equipment Financing?

Equipment financing provides businesses with the funds necessary to purchase or lease essential machinery, vehicles, or other equipment. This type of loan allows businesses to acquire assets without depleting cash reserves, often using the equipment itself as collateral.

What Are Equipment Financing Business Loans?

Equipment financing loans are designed specifically for purchasing or leasing equipment. These loans typically use the equipment as collateral, making it easier for businesses to secure funding. Terms and rates vary depending on the lender and the type of equipment being financed.

Who is Equipment Financing Business Loans For?

Equipment financing is ideal for businesses across all industries that need capital to purchase machinery, vehicles, or technology without large upfront payments. This is especially useful for startups or growing businesses that require equipment to expand operations.

Why Choose Mikel Consulting?

  • PROVEN EXPERTISE

    Experience: Prepared 4,000+ customized business plans since inception.

    Success Rate: 97% success rate for 3,000+ valued clients worldwide.

    Trustworthy Team: Dedicated professionals with 24 years of industry experience.

  • TIME SAVINGS

    Efficient Process: Prompt delivery of first drafts within 7-10 business days.

    Focus on Growth: Save weeks of work to concentrate 100% on growing your business.

    Industry Research: Powered by direct research and hundreds of top industry resources.

  • HIGHLY CUSTOMIZED

    Custom Solutions: 1-on-1 consultations to understand your business, industry, and goals.

    Reflect Your Vision: Create a custom-tailored business plan to best represent your vision.

    Maximize Success: Designed to attract funding, increase potential for success, and stand out from the competition.

Equipment Financing Impact

75%

Businesses report improved productivity after securing financing.

Up to 55%

Equipment acquisition that is financed in the United States.

$100 billion

Total market value of equipment financing in the U.S. annually.

Equipment Financing Program Details

  • Loan Amounts

    • Loan amounts depend on the value of the equipment and can cover up to 100% of the purchase price.

    • Loan sizes vary from a few thousand dollars for smaller equipment to millions for heavy machinery or technology systems.

  • Usage of Funds

    • Equipment financing can be used to purchase or lease equipment such as vehicles, machinery, computers, office equipment, and more.

  • Interest Rates

    • Interest rates are typically competitive, with rates varying based on the creditworthiness of the business and the type of equipment being financed. Rates can range from 4% to 12%.

  • Fees

    • Some equipment financing loans include origination or processing fees, usually around 1-3% of the loan amount.

  • Security

    • The equipment being purchased is often used as collateral for the loan, reducing the lender’s risk.

  • Loan Approval Process

    • The loan approval process is generally faster than traditional loans, with many approvals happening within a few days to a week. Required documentation typically includes a business plan, financial statements, and information on the equipment being purchased.

  • Eligibility

    • Businesses of all sizes, from startups to established companies, can qualify for equipment financing. Credit history, cash flow, and the value of the equipment are key factors in determining eligibility.

Which Banks Offer USDA Business & Industry Loans?

The banks that offer USDA Business & Industry (B&I) loans work in partnership with the USDA to support rural businesses across the U.S. These include major financial institutions, such as Bank of America, Wells Fargo, Chase Bank (JPMorgan Chase), U.S. Bank, PNC Bank, and Regions Bank. You may already have a business or personal account with a USDA-affiliated lender, making the process of securing B&I loan funding even more accessible with Mikel Consulting

Bank Loan Business Plan Examples

Transforming Your Vision into Reality

Explore how our strategic business plans and expert guidance have propelled businesses to new heights.

Chic Nail Salon

Secured a $128,475 bank loan for operational launch.

Labs Diamond

Secured $10M loan for working capital to place inventory at retailers.

Sempre Uno

Secured a $1M bank loan for operations and enhancement.

Frequently Asked Questions

  • Equipment financing allows businesses to secure loans or leases for essential equipment without paying the full price upfront. The equipment itself serves as collateral, making it easier for businesses to obtain funding while spreading payments over time.

  • Equipment financing can be used to purchase or lease business-critical assets such as machinery, vehicles, computers, office furniture, and manufacturing equipment. This enables businesses to keep up with industry demands without depleting cash reserves.

  • Qualifying for equipment financing depends on the lender’s requirements, but generally, businesses need to have a solid credit history, provide financial statements, and offer the equipment as collateral. Startups may also qualify depending on the strength of their business plan and financial projections.

  • Interest rates for equipment financing vary, typically ranging from 4% to 12%. Factors such as your credit score, business history, and the type of equipment being financed will influence the interest rate.

  • Approval times for equipment financing are generally fast compared to traditional loans. Many businesses receive approval within a few days to a week, depending on the lender and the completeness of the application.

  • Mikel Consulting provides detailed business plans that are specifically designed to support your equipment financing application. We ensure that all aspects of your business are clearly presented, from financial forecasts to market analysis, making it easier to get approved and secure the equipment your business needs.

  • Speak With An Advisor

    We can’t wait to get you funded!

    Contact Us

  • Learn About Our Partner Program

    Partners enjoy added benefits including favourable pricing!

    Learn More

We have the expertise to unlock opportunities for your business growth, funding, and immigration success through our tailored business plans and strategic guidance.

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