Walk-in coolers and freezers, reach-ins, ice machines and rooftop HVAC units protect inventory and keep customers comfortable. A failure is an emergency, so many owners finance replacement rather than pay cash on short notice.
Subject to credit approval and documentation.
An EFA is common. Remodels may bundle HVAC with other equipment.
| 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.
Yes. Send the contractor’s quote with your application.
Certain nonresidential HVAC improvements can qualify. Ask your tax advisor how your project is treated.
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.