Equipment Loans Available To Caribbean American Businesses

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By NAN Business Editor

News Americas, NEW YORK, NY, Fri. Dec. 14, 2018: Most businesses need some sort of equipment to function.  If you’ve ever had a car loan, you’ve essentially had an equipment loan.

The equipment you are purchasing – anything from computers to heavy machinery – is the collateral and you’ll pay back the loan at a fixed monthly rate for a fixed amount of time. Interest rates on equipment loans generally vary from 8 percent. Here’s the minimum criteria to qualify.

Minimum Criteria to Receive an Equipment Loan

Years in Business Required 1+
Credit Score 600+
Annual Gross Revenue $75,000+
Profitability required? No.
Bankruptcy allowed? Yes, you could qualify for an equipment loan no less than 2 years after filing bankruptcy.
Credit Card volume a factor? No
Accounts Receivable a factor? No
Second position allowed? In some cases

 

Caribbean-Americans seeking short-term loans or other expansion capital have many difference options available including Start-Up Loans as well as Medium-Term Loans, A Line Of Credit, Invoice Financing or a Merchant Cash Advance.

Ask for more information on how you can access any of these finance options and start the New Year right.


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