Equipment Financing Agreements, Explained

In need of financing for new business equipment? For most business owners, a traditional bank may be the first place you think of when it comes to seeking out financing for these purchases—but it isn’t necessarily the best option.

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What Is an EFA Loan and Is It Right for My Business?

When your company requires specialized equipment, the up-front costs of launching a business can be cost prohibitive. This equipment doesn’t come cheap, but without revenue coming into your business, the task of affording this equipment is a barrier to entry for many small businesses.

Equipment financing agreements (EFAs) solve these challenges by providing the funding necessary to acquire essential equipment and spread out its cost over time. If you’re in need of specialized equipment but don’t have the liquidity to afford this purchase outright, an EFA loan might be the perfect financial tool for your business.

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