Are you interested in possibly acquiring an equipment loan for your small business? Choosing the right loan can be a little nerve wracking, but at Northpoint Commercial Credit, we’re here to help answer all of your questions and give you excellent advice on your small business loan. If you’re looking for a dedicated and enthusiastic loan provider, call the officers at Northpoint Commercial Credit in Louis Park, MN and Des Moines, IA.  We’re here to help your business thrive.

What is an Equipment Loan?

An equipment loan is usually needed at some point in a business’ lifetime to upgrade, purchase, replace, or repair the equipment needed to manufacture the product. This equipment can include dental or medical equipment and machinery, office furniture, copiers, fax machines, computers, and phone systems, industry and company vehicles, restaurant ovens, cookware, tables, chairs, linens, and catering materials, industrial equipment, specialized machinery, and more. Whatever your business may be, you need to make sure your equipment is updated and in good working order so your business is running at the optimum level and efficiency. Northpoint Commercial Credit wants to help your business continue to grow and succeed and we understand that you’ll need a small business loan at some point. We’re here to assist and guide you through selecting the right small business loan for your company.

Small Business Equipment Loans

So you need a small business equipment loan to grow your business, and you’re not exactly sure how to apply for one. Northpoint Commercial Credit specializes in helping small business continue to succeed through financing and small business loans. Depending on the equipment being purchased, a down payment of around 20 percent is required and due at signing. The collateral for the loan is the item or items that you will be purchasing with the equipment loan money. Generally, you can finance about 80 percent of the total purchase price of the equipment. And with a small business loan, you’ll own the equipment from day one. We can help you understand the process and requirements here at Northpoint Commercial Credit in Louis Park and Des Moines, and assist you in making a wise decision to continue the growth of  your business!

How to Get an Equipment Loan

The most important factor for getting the best possible loan for your small business is excellent credit. If you have low or no credit, a small business loan is a great way to build your credit and help it to grow. Northpoint Commercial Credit offers unique financing and competitive rates so you can acquire your loan and expand your business quickly. We offer a 100 percent fixed rate that is available across all 50 states. Whatever type of small business loan you may be looking for, Northpoint Commercial Credit has highly-trained loan officers that can help you to choose the right type of small business loan for your company.

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Benefits of a Small Business Loan

Now that you have a small business loan, what exactly are the benefits of it? First off, you now have the capital to be able to purchase the equipment that your small business needs. Along with the new equipment, often a small business loan is tax deductible because it qualifies as an operating expense. You’ll save on your taxes with your small business loan and be able to put that deduction back into your business. On top of that, depending on what you spend the money on, you’ll have extra cash in your pocket to continue to increase and improve your business. Lastly, Northpoint Commercial Credit will work with you to create a flexible payment schedule unique to your business structure. We want your business to succeed in the best way possible.
Achieving a small business loan can be a monumental decision and action that can help your company to advance leaps and bounds. At Northpoint Commercial Credit, our goal is to give you the monetary tools to multiply the sales and growth in your company. If you’re in need of or interested a small business loan, contact us today. We have two offices in Louis Park, MN and Des Moines, IA to better serve and partner with your small business. Call us today!