Introducing a Brand New Way to Finance Equipment Purchases: The Equipment Financing Agreement
- Finance 100% of your costs, including equipment, installation, shipping, and taxes
- You own the equipment from the beginning – no buyout required
- No advance payments are required
- No pre-payment penalty after 12 timely payments
The Advantage+ EFA is a fixed-term loan with equal monthly payments. Unlike a lease, the borrower is the owner of the equipment. Unlike a bank loan, which is typically secured with all business assets, and often, personal assets, Advantage+ retains a security interest in just the equipment. Similar to a lease, 100% of the equipment cost, shipping, and dealer costs are included in the financing, yet an EFA doesn’t require advance payments, saving borrowers up-front cash.
Customers will still enjoy the flexibility and benefits we’ve always offered, like pre-paying without penalty, and options to add to the amount financed or alter terms midstream.
Advantage+ often works directly with equipment vendors to provide financing agreements for their end customers. Previously, with lease agreements, the vendor would have to total invoices without tax and keep track of exemptions to provide taxing authorities. With an EFA, the financing agreement is treated as a regular taxed sale on their books, making for much easier bookkeeping. EFA’s are available for equipment purchases from $3,000-$200,000.