Equipment financing is the use of a funding or lease to purchase or borrow hard assets for your business. This type of financing might be used to purchase or borrow any physical asset, such as a restaurant oven or a company car. There is an enormous number of variations on equipment financing that cater to specific types of businesses and equipment.
The most important thing to understand about equipment financing, broadly speaking, is that it’s for financing a physical asset. Why does this matter? Unlike with, say, a working capital funding, the asset you’re purchasing serves as a kind of collateral. If you default on your funding or lease, the funder can repossess the asset. Because of this, equipment financing tends to be a more cost-effective and lower-risk way to acquire equipment than other forms of financing.
At SharpShooter Funding® Equipment Finance, our goal is to make your company’s next acquisition of capital equipment as simple as possible. We offer insight about your financing options and can provide meaningful guidance on how to develop an equipment acquisition strategy that is best suited to your company’s goals. Deploying new equipment and technology in your business or your customer’s business may quickly improve productivity, create competitive advantage, and jumpstart business growth.
Business owners commonly get equipment financing in these situations:
1. You need expensive equipment but can’t afford to (or don’t want to) purchase that equipment upfront
2. You need to replace your equipment frequently because it has a short lifespan, or you always need the latest in technology
You need some combination of 1 and 2
Is equipment financing right for your business? If your business is in a situation similar to any of the ones above, the answer might be yes. However, there are a couple of different ways you can get financing, and it’s important to know the difference.
Rest easy knowing you are working with financing and industry specialists who understand the Canadian business environment and can consult with you on your company’s equipment needs or your customer’s equipment needs. We help companies (end-users, equipment dealers, equipment manufacturers) finance equipment in these and other core Canadian industries:
Other asset categories may apply. Talk with your Equipment Finance specialist to learn more.
Our long-standing presence in Canada, and the relationships we’ve developed reflect a dedication to excellent customer service. We offer:
Our vendor finance specialists offer a full range of programs designed to help equipment manufacturers and distributors increase sales and maximize their customers’ experience.
We create customized programs based on your customer’s profile and the unique needs of your industry. Services we offer include: