SPRAY FOAM EQUIPMENT FINANCING

TAKE YOUR BUSINESS TO THE NEXT LEVEL.

 

Equipment financing has never been easier!

Get up to 100% financing through our lending partner that specializes in commercial equipment loans. Applying for a loan takes just a few minutes to complete and the approval process usually takes less than one business day. You will be notified of your loan application status and the amount you qualify for by our H.I.L. Financial representative.

Your euipment loan comes with these features:

  • Up to 100% financing upon approval
  • Financing available up to $1,000,000
  • Quick response – In most cases, your application will be processed in one business day
  • Flexible rates and terms

To help with the application process please be prepared to provide the following business information:

  • Loan amount desired
  • How the funds will be used (industry category)
  • Business name (full legal name)
  • DBA (doing business as)
  • Business structure and ownership
  • Business contact information
  • Business debt to income ratio
  • TIN (Tax Identification Number)


Click and take the next step to grow your business!

 

 

NEED HELP OR HAVE QUESTIONS ABOUT THE EQUIPMENT LOAN PROCESS?

 

 

 

SPRAY FOAM EQUIPMENT FINANCING FAQs

  • Applications for financing up to $1,000,000
  • Speedy approval or disapproval status
  • Phone call and/or text confirmation of approval status
  • Phone call notification in the event of disapproval and discussion on how to improve scores
  • Single point of contact throughout the application process
  • Flexible rate and terms

All businesses that need funding to buy spray foam equipment are eligible to apply. The financial status and credit score of your business will be a significant factor in the amount, terms and source of the loan.

Any business that is purchasing equipment or a product for a business purpose is eligible to apply.

Examples of a eligible businesses include corporations, LLCs, nonprofits, partnerships or sole proprietors. You are considered a sole proprietor if you get paid via a 1099 or operate a business and report your income via a Schedule C or F on your 1040 tax return.

Business owners with at least 25% ownership will be subject to a personal credit review. When the transaction funds, it does not get recorded on your personal credit as a new trade line of debt. It only reports to your business credit, helping you build your business credit profile.

Factors that will be evaluated include:

  • Time in business (TIB) under current ownership
  • Comparable business credit. This means the credit history of other business transactions comparable to the amount you are requesting
  • Depth of credit on your personal credit report. This means a credit history with multiple transactions, such as a car loans or mortgage

Your rate payment will vary and is dependent on the amount financed, credit history, circumstances and documents provided at the time of your application.Currently, the Prime Rate is 8.50% as of Nnovember 1, 2023. This rate influences the rate of all types of financing, both commercial and consumer.

Your loan will be stuctured as an Equipment Finance Agreement (EFA) for titled assets such as trailers.

With an EFA, you own your equipment from the inception of the financing and there is no end-of-transaction buyout.
Your financial underwriter (loan source) will be listed as a lienholder on the title of your trailer or will file a UCC (Uniform Commercial Code) based on the serial number(s) of your equipment for non-titled assets.

With an EFA, you can buy out the contract early and the buyout is always less than the sum of remaining payment.

We're here to help! Call us today at 1-877-772-9629.