Asset Based Loans (Equipment & Vehicles)

Why Use an Asset Based Loan?

Approval Amount: Up to 50% of Equipment/Vehicle Value

Repayment Structure: Monthly

Term Length: 24-60 months

Interest Rates: 8%-35%

Time to Funding: 5-7 Days



Pros: 

  • Equipment Serves as Collateral
  • Gives You Access to Cash Without a Lien on Your Business or Higher Cash Advance Rates and Short Terms.

Cons: 

  • Interest Rates Depend on Credit and Time in Business
  • Equipment Appraisal Can Take a Few Days 
  •  Equipment Appraisal is at Wholesale or Fair Market Value

Asset Based Loans can be very useful in getting quick access to capital by using your business' equipment or vehicles as collateral. These loans typically have monthly payments and longer term options

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