Frequently Asked Questions
At MoneyCapital Equipment Finance, we understand the equipment loan process can be confusing and overwhelming. That’s why our experts are here for you every step of the way to answer any questions you may have about your customized loan solution.
- What is equipment financing?
- Equipment Financing from MoneyCapital is a loan you use to purchase business-related equipment. It allows business owners to purchase the necessary equipment to keep their business running and successful without pulling from existing working capital.
- Is equipment financing the same as a business loan?
- Equipment financing is a type of business loan specifically for buying new or used machinery for your business.
- How much can I get approved for?
- We offer application-only financing up to $500,000.00. However, each business’s finances are different. You can use our online loan calculator to see how much you could qualify for.
- What are the finance terms available?
- We offer finance terms ranging from 24 to 84 months.
- What is a blanket lien?
- A blanket lien is a lien that covers all assets of a borrower, both present and future. At MoneyCapital Equipment Finance, we do not require blanket liens. Our UCC filings are equipment-specific.
- What are step payments?
- Step payments start low and gradually increase over time. This is one loan option available to our clients due to the potential new equipment has to scale a business.
- Is financing available for new businesses?
- Yes, we offer financing for new businesses with a 20% down payment of up to $150,000.00.
- Can I qualify for the Section 179 tax deduction with this type of loan?
- You may be able to qualify for a tax deduction of your equipment purchase through MoneyCapital. However, with ever-changing tax laws and regulations, it is best to consult your tax advisor, as there are several eligibility requirements.