Fidelity Capital is pleased to provide a wide variety of equipment financing services to clients in all sorts of industries. For smaller companies especially, these services can be of great use for helping to promote business growth. However, smaller and newer companies are also less likely to have experience in financing equipment, which means they tend to have a number of good questions about equipment financing.
Here are some of the most commonly asked questions we receive about equipment financing, and a bit of helpful information in response to each:
Q: Who finances their equipment?
Approximately 85 percent of all businesses either finance or lease their equipment. These businesses range from Fortune 500 companies to mom-and-pop corner stores in small towns. Just about every company can benefit from equipment financing somehow.
Q: Why do companies choose to finance equipment?
Most of the time, it’s because it makes the most financial sense. For one, financing equipment allows businesses to save a good chunk of their cash flow for other important business expenses. For example, it can be hard to engage in effective marketing when you have to sacrifice your cash flow for paying for equipment.
Q: What type of equipment can I finance?
The growth of the financial industry has allowed us to expand finance implementation. We currently offer financing services for dental and medical equipment, construction equipment, transportation equipment, cloud computing equipment, manufacturing equipment, technology equipment, software and much more. Ask our team about whether we can assist you with the specific pieces of equipment you need for your company.
Q: How much can I finance without financials?
Currently we are seeing application-only approval up to $500,000. This gives us plenty to work with for most of our clients.
If you have any additional questions about equipment financing, we encourage you to contact us. We are happy to work with you to figure out the best strategies for getting the equipment your company needs at a reasonable price.