An Equipment Finance Agreement (EFA) is a simple way to purchase business equipment with fixed monthly payments. Unlike a lease, you own the equipment once the loan is paid off. It’s a fast, flexible financing option designed to help businesses get the equipment they need without large upfront costs.
We finance most types of business equipment, including (but not limited to) manufacturing machinery, office equipment, material handling equipment, computers, vending & gaming machines, tractors, and trailers.
We offer 100% financing and include soft costs such as sales tax, shipping, and installation.
All financing is done with an “Equipment Finance Agreement”.
We finance business equipment purchases of $10,000 to $200,000.
We also lend $10,000 to $50,000 to existing customers, for working capital.
All financing is done with an “Equipment Finance Agreement”.
Advantage+ is built on long-term relationships and straight answers. Our rates may differ from what you see at a traditional bank, and there are good reasons for that. Here’s what matters:
All financing is done with an “Equipment Finance Agreement”.
- Our rates are competitive
While banks sometimes have lower rates, they also have strict requirements, longer approval times, and often won’t finance used equipment or small businesses without extensive collateral. Our rates are usually much lower than credit cards or online lenders. - Fast and flexible financing
We specialize in quick approvals, simple paperwork, and flexible terms—things banks can’t always provide, especially for smaller or newer businesses. - No hidden fees or surprises
With us, what you see is what you get. There are no escalating rates, hidden fees, or prepayment penalties if you want to pay off early. - Built for small businesses
Banks focus on large loans for established companies. We focus on helping small businesses grow, financing equipment that keeps your business running day-to-day. - You can use our payment calculator to see what your payments might look like or contact us anytime for a free quote tailored to your situation.
Use our payment calculator to see what your actual payments could be or contact us for a free quote.
Our working capital loans are usually established with a 12 to 24 month term.
All financing is done with an “Equipment Finance Agreement”.
Great question. Here’s why a security deposit is sometimes required:
- A security deposit acts as an additional layer of security for the loan, especially if the equipment’s value doesn’t fully cover the amount borrowed.
- By holding a security deposit, we can sometimes approve loans that might otherwise be declined or require higher payments, because it reduces the overall risk.
- Unlike a down payment, which goes to the vendor, your security deposit is held by us and returned to you at the end of the loan term, if your payments are made as agreed.
In short, a security deposit is there to protect both you and us, and you get it back at the end of your loan.
- A down payment is a standard part of equipment financing. Here’s why it’s important:
- Making a down payment shows you’re committed to the purchase and financially stable, which helps strengthen your approval.
- By putting money down, you reduce the amount you need to borrow, which can make your monthly payments more manageable.
- Equipment loses value over time. A down payment helps cover this natural decrease in value, protecting both you and us throughout the loan.
- We understand this question comes up often. Here’s why we sometimes ask for an additional guarantor:
- It helps get your loan approved. Having an extra guarantor, like a spouse, can strengthen your application, especially if your business is newer or has limited credit history. It shows added financial support behind your business.
- If your business ever struggles to make payments, a guarantor provides a backup to ensure the loan gets repaid. This added security is what allows us to offer fast approvals and competitive rates.
- An additional guarantor demonstrates there is someone else who believes in and supports your business, which gives us more confidence in your success.
- We know involving another person in your loan isn’t ideal, but it’s often what makes approval possible, especially for small businesses that don’t have large financial reserves.
We understand this question comes up often. Here’s why we have closing costs:
- Closing costs help cover the real expenses involved in processing your loan. Things like underwriting, credit checks, preparing documents, and setting everything up correctly for funding.
- We take time to carefully review your business and the equipment being financed to make sure everything is set up for your success. These costs help us do that thoroughly and efficiently.
- There are regulatory and legal steps needed for every loan to protect both you and us. Closing costs help cover these requirements.
- Unlike some lenders, we are upfront about our costs. There are no undisclosed or surprise fees buried in your payments, everything is clearly outlined from the start.
In short, closing costs ensure your loan is processed properly, legally, and efficiently, with full transparency every step of the way.
Document fees in a commercial equipment finance agreement are charges that cover the preparation, processing, and handling of all the paperwork needed to complete the financing.
Document fees are essentially the cost of getting all the legal paperwork in order for your financing. This includes drafting the finance agreement, reviewing terms, and making sure everything is correctly filed and processed to complete the loan. It’s a standard fee that ensures all the documents are prepared accurately and legally, so both you and Advantage+ are protected.
It’s one of the standard costs in most financing agreements, covering the administrative work involved in setting up the loan. Some finance companies choose not to disclose them, but may instead roll them into a slightly higher overall interest rate.
To apply for a business equipment loan, you will need to fill out the online application. We will ask for information about both the borrowing business as well as the principal(s)/owner(s) of the business.
Once approved, we will require proof of identification (photo of Driver’s License), and contact information for each personal guarantor on the loan.
We will also need an invoice for the equipment being purchased.
The loan documents will be sent electronically and can be digitally signed from a smart phone or computer.
All financing is done with an “Equipment Finance Agreement”.
- In this case, POA stands for Power of Attorney, but it’s different from a medical POA.
- This POA gives us permission to handle certain paperwork related to your financed equipment, such as titling or releasing liens, on your behalf. It does not give us any control over your personal, financial, or medical decisions.
- It allows us to manage the paperwork efficiently and ensures everything is processed smoothly and correctly. For example, if we need to update a title or release our lien at the end of your loan, this POA lets us do so quickly without needing to come back to you for signatures later.
- By signing, you’re simply allowing us to handle administrative items related to your loan collateral. It helps speed up the process and ensures everything is legally filed as required.
In short, this POA is just for equipment paperwork, nothing like a medical POA, and it does not give us access to your personal affairs.
- Protects your equipment
Insurance keeps your equipment covered if something unexpected happens, like theft, damage, or loss, so you aren’t left with a bill and no equipment to use. - Protects your business
If your equipment is damaged or lost, insurance helps you replace or repair it quickly, keeping your business running without major disruptions. - Protects the loan
Since the equipment is part of what secures your loan, insurance ensures that if something happens, there is coverage to help pay off the remaining balance. - Part of the agreement
All equipment financing agreements require insurance as a condition of the loan. It’s there to protect both you and us throughout the life of your financing.
In short, insurance gives everyone peace of mind, knowing that your business investment is protected no matter what comes your way.
We work at the speed of our customers. We can complete our approval process within the day of receiving an application, and we can fund the loan the same day we recieve the signed loan agreement.
Real Time Payments and Wire transfers are expedited, with a processing period of 1-2 hours. Transactions involving Automated Clearing House (ACH) take 24-48 hours.
Your first payment is due approximately one month after your loan closes. The actual due date varies, based on the date that your loan is funded.
Yes. If your company sells new or used business equipment valued between $10,000 and $200,000, we will personalize an equipment financing vendor program for you.
Section 179 is a powerful tax-saving tool that every business should consider. It allows you to deduct the full purchase price of qualifying equipment, like vehicles, machinery, and even office furniture, directly from your taxable income.
See our Section 179 page for more information.
And we are eager to speak with you! Just call us at (800) 949-7040
Office Hours are:
8 a.m. – 5 p.m. Central Time, Monday through Thursday
8 a.m. – 4 p.m. Central Time, Friday
One of our finance specialists will happily answer any questions you may have.
You may also email your questions here.
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