APPLY NOW
Inside or Outside of The Office – Any Equipment You Need
Whether your need a new tractor for your farm or a slew of laptops for your office, equipment financing may be right for you. Learn more in our Ultimate Guide to Equipment Financing in 2020.
Why Consider Equipment Financing?
Getting the equipment you need to remain competitive doesn’t have to be a nightmare. With a simple application process, competitive rates and monthly payment schedules and terms that extend through the life of the equipment, keeping your business moving forward has never been easier.
Financial Health:
Improve your business credit score with on-time payments.
Upgrade your equipment without disrupting cash flow.
Easy Qualification
Businesses can qualify with a 600+ FICO score for financing amounts under $150,000.
For financing amounts over $150,000, businesses over 2 years in operation can qualify with a 675 FICO.
Startup Friendly
With 600+ credit score, startups can finance up to $45,000 toward needed equipment.
No business history paperwork required, all you need is an application and an invoice.
Additional Perks
Simple application and qualification process with quick access to funds.
Equipment financed or leased may qualify for the Section 179 Tax Deduction.
Equipment Financing – What You Need to Know
Every business needs high quality, modern equipment – without it, you wouldn’t be able to operate, let alone make a profit. But the huge cost of equipment and the prospect of dipping into your available capital has you feeling uneasy. With Kapitus Equipment Financing, there’s no need to put up with outdated and malfunctioning equipment. You can get financing up to the full cost of the equipment to cover equipment expenses – with no down payment requirement and flexible monthly payments – at the lowest rates in the industry. Whether you’re a construction company, a landscaper, a restaurant owner, or you work in the B2B services space, keeping your business running has never been easier with Kapitus equipment financing.
Do I Qualify for Equipment Financing?
Qualifying for Kapitus Equipment Financing is easier than you think! Depending on the cost of the equipment you are looking to finance, all you have to do is meet time in business and FICO requirements (perfect credit not required!)
START UP BUSINESSES
UP TO $45,000
- No time in business requirement
- Must be incorporated
- 600+ Fico Score
- Little to no down payment
ESTABLISHED BUSINESSES
LESS THAN $150,000
- 2+ Years in Business
- 600+ Fico Score
- Little to no down payment
ESTABLISHED BUSINESSES
MORE THAN $150,000
- 2+ Years in Business
- 675+ Fico Score
- Little to no down payment
How to Apply
Applying for equipment financing from Kapitus is easy; and should only take you about 5-10 minutes total. Simply fill out our online application, upload your vendor invoice at the end of the application…and you’re all set! Once your package has been submitted, a Kapitus equipment finance specialist will be in touch with a decision or, when necessary, to learn more about your business. Upon approval, your finance specialist will work with you to establish a payment amount and plan that works best for your business.
Take Advantage of our App-Only program for financing under $150,000!
If your equipment cost and expenses are under $150,000, the only paperwork required is the completed application and the invoice from your equipment vendor. That’s it – no additional paperwork will be needed to qualify!
Equipment Financing – Simplified
1. Select the equipment you want to purchase for your business
2. Get Equipment Financing with Kapitus
3. Kapitus pays your vendor for the equipment
4. Select the equipment you want to purchase for your business
5. You take delivery of equipment from your vendor
6. You make payments to Kapitus
Who Should Use Equipment Financing?
Equipment financing can be used in virtually any industry, however there are some industries that utilize this more often than others. Here are the industries that most frequently use Kapitus equipment financing:
- Agriculture
- Auto Repair
- Beauty & Wellness
- Business Services
- Chiropractic
- Cleaning Services
- Construction/Contractor
- Daycare
- Dental Practice
- Electrical
- Food Trucks
- Gardening & Landscaping
- Gym & Fitness
- Healthcare/Medical
- MHVAC
- Plumbing
- Real Estate
- Restaurant
- Retail
- Trucking
What Types of Equipment Can I Finance?
Top 3 Reasons to Choose Kapitus
We don’t need your autobiography
Our app-only program is simple and requires minimal information – meaning no tax returns, no business plans, no debt equity ratios, no residential history. We’re financing your business equipment, not your personal life.
…Or your limbs
Qualification doesn’t require cross collateral. The equipment you are looking to purchase is the only collateral needed for approval. So, rest assured that you can keep your house, your truck, and your arms and legs for yourself!
No Financial Smoke & Mirrors
With Kapitus equipment financing, what you see is what you get. There are no hidden fees. Our fixed term rates mean you will see no rate adjustments (even if prime lending rates go up!); and there is no need to re-qualify for financing on an annual basis.
FAQ
A: Simply put, Kapitus Equipment Financing is a loan that you use to purchase business-related equipment. It allows business owners to purchase the equipment they require to keep their business running and successful without the need to pull from existing working capital.
A: Equipment financing is, actually, a type of business loan. Similar to the traditional business loans that you are used to seeing, Kapitus Equipment Financing has monthly payments that include interest and principal over a fixed term. With equipment financing, however, the full equipment cost is paid directly to the vendor/seller upfront.
A: While both equipment financing and equipment leasing can be used to acquire new equipment for your business, they do have some very distinct differences. The main difference between these two options is the ownership of the equipment. When you use equipment financing, you are purchasing the equipment from a vendor and you are, therefore, the owner of the equipment. With equipment leasing, however, you do not own the equipment outright. Instead, you are renting equipment through a leasing company for an agreed upon amount of time, with the option to purchase at the end of your lease agreement.
A: Equipment Financing is a collateralized loan that allows you to purchase equipment for business use. There are many benefits to equipment financing, including:
- Preserve existing working
- Tax advantages through the Section 179 Tax Deduction*
- Improve your credit score with timely payments
An equipment lease is, essentially, a rental agreement between an equipment vendor and a business, where you rent equipment from a vendor for a monthly payment. You do not own the equipment during the lease term (think along the lines of leasing a car for personal use – it’s just like that!). There are many benefits to equipment leasing, including:
- Preserve existing cash flow
- Permits regular upgrades to your equipment
- Tax advantages through the Section 179 Tax Deduction*
* Always consult your tax advisor as to any tax advantages that may be available with equipment financing and leasing, as the tax code may change each year (or even mid-year) without notice.
A: Kapitus equipment financing is not just for heavy machinery. In fact, you can finance almost any type of equipment, vehicle or software you need to run your business. Here are just some of the business equipment needs that you can get covered:
- X-Ray Machines, Autoclaves, CAD/CAM Technology, Dental Treatment Units and more
- Bull Dozers, wheel loaders, telehandlers, aerial platforms, trenchers, pavers and more
- Solar Panels and HVAC Units
- Commercial mowers, front-end tractors, loaders, back hoes, excavators and more
- Forklifts, workbenches, flow racks, case sealers, conveyor belts and more
- Office furniture
- Trailers, delivery vans, company cars, food trucks, Commercial ovens, freezers, refrigerators, grills, food processors and more
A: Section 179* of the tax code allows small businesses to deduct the full amount of the purchase price (up to certain limits) of general business equipment. This deduction allows you to substantially lower the amount that you pay for business equipment. You can see additional benefits when your new equipment is leased or financed using Section 179 qualified financing.
To be eligible for this deduction, you must have purchased/ leased/financed your equipment and have it placed into service during the year in which you plan to take the deduction.This use-it-or-lose-it write-off is a great incentive for businesses to purchase, finance or lease the business equipment they need. However, ever-changing federal and state tax laws and tax and stimulus acts can always affect Section 179, so it is critical to speak with your accountant PRIOR to a purchase to determine whether or not your equipment meets eligibility requirements for these tax benefits.
* Always consult your tax advisor as to any tax advantages that may be available with equipment financing and leasing, as the tax code may change each year (or even mid-year) without notice.
Resources – Understanding Equipment Finances
Loans for Dentists: When a Credit Card Won’t Cut It
If you’re one of the nearly 200,000 dentists in the U.S., building and maintaining a thriving practice is certainly a key goal.
Decrease Medical Practice Overhead In These 7 Areas
As an independent practitioner, you focus on providing high quality healthcare to your patients. But, you’re also a business owner with a wide range of expenses.
7 Mistakes New Small Businesses Make
A great idea is only one part of what makes a business successful. From not researching your market to not vetting or training your employees, there are plenty of pitfalls small business owners can make that could be easily avoided …
The Ins and Outs of Equipment Leasing
Suppose you need expensive equipment to run or grow your business. If you pay cash for it, your employees’ paychecks would bounce.
How to build business credit, and why it’s so important!
A strong credit score can make all the difference on whether your business qualifies for financing.
