Funding to Purchase Equipment Essential to Running Your Business
Scarlan Capital Group provides access to equipment financing products for a variety of industries including medical, aviation, construction, manufacturing, oil and gas, hospitality, technology, transportation, and many more. Our equipment financing products allow business owners the ability to preserve their cash by financing 100% of the purchase price (new or used equipment) and avoid maintenance and disposal costs. In addition, there are potential tax advantages with our equipment financing products as the monthly payments may be tax deductible as a business expense.
Benefits of our Equipment Financing Programs
- Loan amounts from $10,000 to $100,000,000
- Ability to finance equipment nationwide
- Application only programs and the ability to fund within 24-48 hours for amounts up to $250,000
- Flexible monthly payment options with terms up to 84 months
- Many of our programs allow for 100% financing allowing for cash preservation
- Ability to fund start-up businesses and industries that many conventional banks avoid i.e., medical, restaurants, oil and gas, technology, CBD, and more
- Potential tax benefits on our equipment leasing products
Application Only Program
For equipment financing requests less than $250,000, we offer a streamlined credit application and review procedure that only requires the submission of a credit application with basic information about the nature of the business, the owners, and bank/trade references. This type of program does not require the borrower to submit business or personal financial statements, tax returns, business plans, or other more detailed disclosures. With our application only program, we can typically approve and fund the transaction within 48 hours of receiving the application.
Full Financial Package Program
For requests greater than $250,000, we require additional documentation to ensure that your application is reviewed and approved in a timely manner. A full financial package consists of the credit application, most recent 3 months bank statements, previous 2 years tax returns (business & personal), and a year-to-date business financial statement (balance sheet and income statement). With our full financial package program, we can typically approve the transaction within 5 days of receiving the required documents. Funding timelines depend on the size of the request and due diligence items that may be required once an approval has been provided.