In every business, the right equipment is essential for keeping operations running smoothly and professionally. Whether you’re a start-up or established business, eventually you’ll need to purchase new tools or repair and update your current equipment. Buying and repairing equipment is a big expense and the need can arise unexpectedly. If you don’t have cash set aside, you may find there aren’t funds on hand to cover the costs. Equipment financing is available to help you make the necessary equipment purchases and repairs to keep your business running or help you meet increased customer demand.
What qualifies as business equipment?
Equipment loans can be used to purchase a wide variety of tools depending of the type of business you operate. With equipment financing you can preserve your working capital while still investing in updated technology or expanding your equipment inventory. If the item is essential to creating revenue for your business, equipment financing can be used to purchase it new or used or pay for repairs. We’ve provided some examples of equipment the qualifies for financing.
- Commercial Vehicles
- Office Furniture
- Computer Equipment and Software
- Telephone Systems
- Construction Equipment
- Manufacturing Equipment
- Laboratory Equipment
- Restaurant & Catering Equipment
- Medical & Dental Equipment
- And more . . .
Why choose PB&T for your business equipment financing?
At PB&T Bank, we focus on local companies and are dedicated to meeting the needs of businesses in Colorado. Every business is different, and so are your business needs. We offer specialized loans tailored to the needs of our community and the businesses we serve. We know the importance of the right equipment to the success of a business. When it’s time to purchase new or used business equipment, contact a local PB&T lender or visit one of our nearby branches today.
How to Apply for Equipment Financing?
Work with your lender to determine the loan amount and terms that will work for you. Our local lenders provide quick decisions.
Provide information to see if you qualify:
- Financial history of your business
- Personal identification
- Documentation proving your relationship to the business
- Invoice for the equipment you’d like to finance
- Business tax returns from the past 3 years
- Year-to-date business balance sheet