Equipment Loan

An equipment loan is planned to assist businesses in getting the machinery, tools, or technology they want to run and produce. At Prime Financial Corp, we deal with personalised equipment loans with reasonable interest rates and flexible repayment terms, letting you finance vital equipment without draining your cash flow. Whether improving current machinery or buying new equipment, our professional consultants will work with you to make a financing plan that suits your business’s requirements. With our support, you can confirm that your business has the tools it wants to stay economical and effective in today’s busy market.

What kinds of equipment can be financed with an equipment loan?

An equipment loan can finance many kinds of machinery, tools, and technology, including construction equipment, medical devices, office equipment, and manufacturing machinery. The loan can cover both new and used equipment.

What is the usual repayment term for an equipment loan?

Repayment terms for equipment loans generally range from 1 to 7 years, depending on the price of the equipment and the lender's rules. Shorter terms may be available for lower-cost equipment, while longer terms are frequently available for high-value machinery.

How is the interest rate determined for an equipment loan?

Interest rates for equipment loans are subjective and based on dynamics such as your credit score, the category and worth of the equipment, the loan amount, and the term length. Creditors may offer fixed or flexible rates based on these dynamics.

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