Small Business Loans

Small Business Loans for Businesses with Equipment

Small business loans for businesses with equipment are a very common type of loan for small businesses.  When a business has equipment and specialty fixtures there is value in the items and this value adds to the overall value of the small business.

Underwriters of small business loans see the equipment and specialty fixtures as tangible collateral, versus the virtual collateral of the businesses ‘good will’ value and list of clients or inventory which constantly cycles and must be replaced.  Small businesses with equipment to use as collateral have a much easier time getting an approval for a small business loan that businesses that have no equipment at all.

Small Business Loans

Small Business Loans & Working Capital

The Best Example of Loans for Small Businesses with Equipment

The best example of small businesses with equipment are doctor’s practices and dental practices.  These businesses usually have high tech equipment and specialty fixtures that can cost tens of thousands of dollars and in cases of larger clinics, in the millions!

Physicians loans (loans for doctors) and Dental Practice loans (loans for dentist) are two specific types of small business loans that are easy to make.  In fact, many lenders are so aggressive in pursuing these types of loans that in some cases they are offering up to 100% LTV (loan to value).

Other types small businesses with equipment are manufacturing businesses and businesses with fleet vehicles.  Small business loans for small manufacturers looking to upgrade equipment and/or their facilities are very popular with lenders.  As are small business loans for small businesses with fleet vehicles like plumbing companies, HVAC and mechanical companies and electrical companies.

Applying for a Small Business Loan

Those wishing to apply for a for a loan for a small business should make sure that they a few things in order first.  Always make sure you have an executive summary.  Remember that an executive summary is NOT a business plan, moreover, it is a short synopsis of the plan and it describes the loan need (amount of the small business loan being requested) and it tells what that money will do to improve the business.

Next, small businesses with equipment that are seeking a loan should make sure they have an equipment list.  This equipment list should describe each piece of equipment, delineate the original cost of the equipment and the date acquired and should give a clear and realistic value estimate for the equipment.

Having these items at the initial conversation with the lender will help the loan package move forward more quickly and will help the small business loan lender take your request more seriously!  For more information on how to apply for a Small Business Loan and get that loan closed fast contact the small business loan experts at Dividend America Commercial Lending.

For more information, call Michael Gross, President, Dividend America, at 404-819-4511 or email your executive summary and sources and uses documents. If you’re ready to apply, use our online application for the fastest response.

Providing small business loans, working capital loans and equipment loans in all 50 states with a specific focus on the following metropolitan areas:  Boston, Chicago, Denver, Las Vegas, Los Angeles, Miami, Fort Lauderdale, Orlando, San Diego, New York, San Francisco, Phoenix, Atlanta, Tampa Bay, Detroit, Minneapolis-Saint Paul, Charlotte, Dallas / Fort Worth, Portland, Seattle, Cleveland, Oklahoma City, Jacksonville, Indianapolis, Nashville, Kansas City, Louisville, Milwaukee, New Orleans, Philadelphia, Raleigh, Sacramento, Salt Lake City, San Antonio, San Jose, Saint Louis, Tucson, Austin, Baltimore.