Treadmills, ellipticals, bikes, rowers and stair climbers are the first thing members see. Connected cardio with screens and software keeps a floor current, but it ages faster than strength equipment.
Subject to credit approval and documentation.
A fair-market-value lease suits gyms that refresh cardio on a cycle; an EFA suits owners who keep equipment longer.
| Equipment finance agreement (EFA) | You own it from day one. Fixed payments; usually eligible for Section 179. |
|---|---|
| $1-buyout lease | Lease payments, then you buy it for $1. Treated much like an EFA for tax. |
| Fair-market-value (FMV) lease | Lower payments. Return, renew or buy at market value at the end. |
Time in business, business and owner credit, revenue, and the equipment’s details: make, model, year, serial number and condition. Requests above $1M also need financial statements.
Equipment bought with an EFA or $1-buyout lease and placed in service by December 31 may qualify for a first-year deduction. Estimate your tax savings.
Need cash for delivery, training, materials or the ramp-up? Add working capital to the same application.
If you plan to replace it within a few years, a lease can keep the floor current at a lower payment. If you will keep it longer, owning usually costs less.
Often, yes. We look at owner experience, pre-sales or membership, and credit.
LenderCloud finances equipment from $10,000 to $10 million. Requests up to $1 million can usually be decided on the application alone; larger requests need financial statements. All financing is subject to credit approval.