Capital Quickly

How To Choose An Equipment Financing Company

Choosing an Equipment Financing company requires a little bit of research to ensure that you get the best options for your business.

When in the market for equipment financing, it is imperative to shop around to ensure your lender offers you the best terms possible. In your research, you will discover many financing companies to choose from. From upstart lenders to large, well-established firms that have been in business for years, we at Capital Quickly have broken down a few of the vital questions to ask to better identify the equipment financing lender you should work with.

1. Scan Customer Reviews

Lenders of all sizes usually boast about their experience, the number of businesses funded, and how much they’ve funded over the years. While this information can tell you a lot about the company, it does not address customer experience. With so many fake reviews out there, it is important to find reputable B2B review sites with verified reviews. Reading these reviews is by far the most surefire way to get an idea of whom you’re working with.

Capital Quickly knows the importance of customer reviews. We’ve been steadily gaining 5-star reviews on well-known business review sites like Google and Trustpilot.

2. Determine their specialization

It is not uncommon for financing companies to carve out a niche in a specific industry where they lend the most. A company specializing in your business’s industry offers insight and experience that can be beneficial for your financing needs. 

View the full range of industries Capital Quickly serves here. It may seem like many industries, but our tailored, hands-on approach has allowed us to gain critical knowledge in those industries.

3. Verify their application process

Obviously, an equipment financing loan with a competitive interest rate and the term length will be the most significant factors. However, this is just one aspect to look into. As a business owner, you should ensure that the loan and the application process align with your business’s needs. Inquire about their application process, approval requirements, how quickly they can get you funded, and term details.

4. Evaluate their customer support

It is vital to have an individual point of contact with your funding company who is reachable whenever you need them. Identify who your business’s representative is within that company. This relationship will ensure that your rep is well aware of your business’ needs and how to serve you best.

A solid working relationship with your account manager means a more streamlined process, which can be a difference-maker in getting your funding quickly and easily.

In short, choosing the right equipment financing company is an important decision in the future of your business. Make sure you’ve vetted your prospective lending company to ensure their customer service, the application process, and rates are competitive and dependable.

We also offer a comprehensive suite of financing options, including Equipment Financing. Check out our Equipment Financing program here. To find the most suitable funding for your business, call 1-888-709-7446 or email us.

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