Firleaf Lending Group, a small-business funding broker in Bowling Green, Kentucky, takes equipment financing requests to lending partners. Equipment financing funds the purchase or lease of business equipment, with the equipment itself usually securing the deal, and is repaid in installments or lease payments. Partners decide, value the equipment and set the rate and terms.
| What it is | Financing secured by the equipment |
|---|---|
| Structures | Loan, lease or EFA |
| Common assets | Excavators, kitchen lines, dental chairs |
| Construction employers, Warren County | 265 in 2023 (CBP) |
| Calculator | Mini excavator payment and total cost |
| Who decides | Lending partners, not Firleaf |
How equipment financing works
You pick the equipment and get a quote from the dealer or seller. A partner reviews the business and the asset, then pays the seller directly. You make payments over the term, and the partner holds a security interest in the equipment until the balance is paid.
Because the equipment backs the deal, partners care about what it is, how long it lasts and how easily it could be resold. Common, mobile machines are usually easier to finance than custom-built ones.
Loan, lease or EFA
| Equipment loan | Lease | Equipment finance agreement (EFA) | |
|---|---|---|---|
| Who owns it | You, with a lien | The lessor, during the lease | You, with a security interest |
| End of term | Lien released | Return, renew or buy | Lien released |
| Suits | Long-lived machines | Gear that dates quickly | Owners who want ownership with simpler paperwork |
Lease end options vary. Some leases let you buy for a nominal amount; others use fair market value. Ask which, because it changes the total cost a great deal.
How to finance construction equipment
Contractors finance excavators, skid steers, compact track loaders, trailers and work trucks. Warren County had 265 construction employers in 2023 and 1,464 construction businesses with no paid employees in 2024 (CBP 2023; NES 2024, separate programs), and many of them own their machines rather than renting. The mini excavator payment calculator works out a monthly payment and total cost from a price, down payment, rate and term.
Work trucks and service vans for a contracting or repair business can be financed as equipment. Firleaf does not take requests for over-the-road trucking. Contractor financing covers the sector in more detail.
Kitchen and clinical equipment
Restaurants finance walk-in coolers, ranges, hoods, dish machines and POS systems; dental and medical offices finance chairs, imaging and sterilization equipment. Installation, freight and software can sometimes be included in the financed amount; ask the partner before assuming so. Funding by sector covers restaurants and practices.
New or used equipment
Used equipment can be financed, often with a shorter term because of its remaining life. Partners may ask for the serial number, hours or mileage, an inspection or an appraisal. A private-party sale usually needs more documentation than a dealer sale.
An equipment loan or a line of credit
For a single, larger machine, an equipment loan or EFA usually fits better because the machine secures it and the term can match its life. A line of credit is better for small tools and repairs that come up often. For a full fit-out, compare a term loan.
When the equipment needs a building
Heavy kitchen or clinical equipment often requires electrical, plumbing or ventilation work and a permit. Check that first: the Bowling Green, KY zoning and permit checklist lists the questions.
What partners review
- The quote or invoice with full equipment details
- Recent bank statements
- How long the business has operated, and the owner's credit file
- Existing debts and liens on business assets
- For used equipment, its age and condition
The four steps explain what happens once you call. Warren County business figures add the local context.
By Firleaf Lending Group · Updated