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Equipment Finance Agreements (EFA’s) are an excellent way to finance your equipment purchases. EFA’s can provide many of the advantages of leasing, without the issue of end of lease options. In an EFA, ownership of the equipment is always in your name.  The equipment is used as collateral for the loan and a UCC is filed to secure the lenders collateral.  Like a lease, EFA’s can be executed with very little money down.  Some of the advantages of  EFA’s are as follows:

Equipment Finance Agreement Basics

Equipment Financing Agreements (EFA's) are basically a loan in which the lender buys the equipment and the customer pays for the equipment at a flat monthly rate for a specified number of months. At the end of the term, the business owns the equipment.

Advantage

  • Customer owns the equipment at the end of the term (there is no end of lease option payment)
  • Equipment can be depreciated on customer's balance sheet (see your tax accountant).
  • Documentation is very simple.

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