Coordinate measuring machines (CMMs), vision systems and laser scanners let shops prove quality to demanding customers and meet certification requirements. They are often the purchase that unlocks a new customer.
Subject to credit approval and documentation.
An EFA works for systems you will keep. A fair-market-value lease can suit software-heavy systems that you expect to upgrade within a few years.
| 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.
Software bought with the system can usually be included as a soft cost within the lender’s limits.
Yes. A fair-market-value lease lowers the payment, and you can return or upgrade the system at the end.
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.