Equipment Finance
Purchase Equipment Without Dipping
into Cash Reserves
Why Consider Financing Your Equipment
Acquiring the necessary equipment to maintain competitiveness doesn’t have to be a daunting task. Our streamlined application process, competitive rates, and flexible monthly payment schedules, which span the entirety of the equipment’s lifespan, make propelling your business forward easier than ever before.
Guidelines
- 660+ credit score
- 2+ Years In Business
- Max Loan Amount: $150,000
- Applicant Onwership: 51% or more
- Max Term: 60 Months
- Approval In As Little As 3 Hours
- Competitive Rates
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registration form business
Building Financial Strength
Simplified Eligibity
Additional Advantages
How To Apply
Securing equipment financing through Kovo Capital is a hassle-free process that can be completed in a mere 5-10 minutes. Simply fill out our user-friendly online application, attach your vendor invoice, and you’re good to go. Once your application is received, one of our Kovo Capital equipment finance specialists will promptly reach out with a decision or, if necessary, to gather more information about your business. Upon approval, your dedicated finance specialist will collaborate with you to determine the most suitable payment plan that aligns with your business requirements.
Make the most of our streamlined App-Only program for financing up to $150,000! For equipment costs and expenditures below this threshold, all that is required is the completed application and the invoice from your equipment vendor. That’s all – no additional paperwork necessary for qualification!
Who Should Use Equipment Financing
Equipment financing can be used in virtually any industry, however there are some industries that utilize this more often than others. Here are the industries that most frequently use Kovo Capital equipment financing:
Medical/Dental Practices
Construction
Manufacturing
Agriculture
Transportation/Trucking
Restaurants
How It Works – Equipment Financing Simplified
- Select the equipment you want to purchase for your business
- Get Equipment Financing with Kovo Capital
- Kovo Capital pays your vendor for the equipment
- You take delivery of equipment from your vendor
- You make payments to Kovo Capital
Frequently Asked Questions
Simply put, Kovo Capital Equipment Financing is a loan that you use to purchase business-related equipment. It allows business owners to purchase the equipment they require to keep their business running and successful without the need to pull from existing working capital.
Equipment financing is, actually, a type of business loan. Similar to the traditional business loans that you are used to seeing, Kovo Capital Equipment Financing has monthly payments that include interest and principal over a fixed term. With equipment financing, however, the full equipment cost is paid directly to the vendor/seller upfront.
While both equipment financing and equipment leasing can be used to acquire new equipment for your business, they do have some very distinct differences. The main difference between these two options is the ownership of the equipment. When you use equipment financing, you are purchasing the equipment from a vendor and you are, therefore, the owner of the equipment. With equipment leasing, however, you do not own the equipment outright. Instead, you are renting equipment through a leasing company for an agreed upon amount of time, with the option to purchase at the end of your lease agreement.
Equipment Financing is a collateralized loan that allows you to purchase equipment for business use. There are many benefits to equipment financing, including: Preserve existing working capital Tax advantages through the Section 179 Tax Deduction* Improve your credit score with timely payments An equipment lease is, essentially, a rental agreement between an equipment vendor and a business, where you rent equipment from a vendor for a monthly payment. You do not own the equipment during the lease term (think along the lines of leasing a car for personal use – it’s just like that!). There are many benefits to equipment leasing, including: Preserve existing cash flow Permits regular upgrades to your equipment Tax advantages through the Section 179 Tax Deduction* * Always consult your tax advisor as to any tax advantages that may be available with equipment financing and leasing, as the tax code may change each year (or even mid-year) without notice.
Kovo Capital equipment financing is not just for heavy machinery. In fact, you can finance almost any type of equipment, vehicle or software you need to run your business. Here are just some of the business equipment needs that you can get covered: X-Ray Machines, Autoclaves, CAD/CAM Technology, Dental Treatment Units and more Bull Dozers, wheel loaders, telehandlers, aerial platforms, trenchers, pavers and more Solar Panels and HVAC Units Commercial mowers, front-end tractors, loaders, back hoes, excavators and more Forklifts, workbenches, flow racks, case sealers, conveyor belts and more Office furniture Trailers, delivery vans, company cars, food trucks, Commercial ovens, freezers, refrigerators, grills, food processors and more
Section 179* of the tax code allows small businesses to deduct the full amount of the purchase price (up to certain limits) of general business equipment. This deduction allows you to substantially lower the amount that you pay for business equipment. You can see additional benefits when your new equipment is leased or financed using Section 179 qualified financing. To be eligible for this deduction, you must have purchased/ leased/financed your equipment and have it placed into service during the year in which you plan to take the deduction. This use-it-or-lose-it write-off is a great incentive for businesses to purchase, finance or lease the business equipment they need. However, ever-changing federal and state tax laws and tax and stimulus acts can always affect Section 179, so it is critical to speak with your accountant PRIOR to a purchase to determine whether or not your equipment meets eligibility requirements for these tax benefits. * Always consult your tax advisor as to any tax advantages that may be available with equipment financing and leasing, as the tax code may change each year (or even mid-year) without notice.
Absolutely. We understand that each business is unique. We work closely with you to tailor a financing solution that aligns with your goals, budget, and preferences. Don’t miss out on the opportunities that equipment financing can provide for your business. Contact us today to explore your options and empower your business with the latest equipment and technology.
