Lodgehollow Funding Group arranges equipment loan and lease requests for businesses in New Bern, NC and Craven County. Equipment financing pays for machinery, vehicles and fixtures, and the equipment usually secures the agreement. This page covers used equipment, restaurant and contractor gear, loans versus leases, and the quote and records partners may review.
| Collateral | Usually the equipment itself |
|---|---|
| Structures | Purchase loan, lease, or finance agreement on the item |
| Used equipment | Financed case by case |
| Builders and trades with employees, Craven County, NC | 199 (CBP 2023) |
Equipment Financing From Quote to Final Payment
An equipment loan for a small business pays the seller directly, and you repay the partner in fixed installments. The equipment secures the agreement, and the partner sets any down payment. When the last payment clears, the lien is released and the machine is yours outright.
Because the collateral is specific, the partner wants to know exactly what you are buying: make, model, year, hours or mileage, price and seller. A dealer quote or a private seller's listing is the core document. Run the numbers first with the used equipment payment calculator, which shows the monthly payment and the total cost including your down payment.
Equipment Financing vs Leasing
With an equipment loan for a business you own the item from the start, subject to the lien. With a lease, the lessor owns it and you pay for its use. How equipment lease financing works at the end depends on the type: a fair-market-value lease lets you return or buy at the then-market price, while a lease with a set purchase amount behaves much like a loan. Tax treatment differs between the two, and that is a question for your accountant.
Gear that dates fast, such as diagnostic scanners or some medical imaging, can be leased. Gear you will run until it wears out, such as a backhoe or a walk-in cooler, may be bought.
Used Equipment Financing
Which way to finance used equipment makes sense depends on its age and how easily its value can be checked. Partners finance used machines when they can confirm the value: a dealer's quote, an appraisal, or a listing with serial number, hours and condition photos. Older or unusual items may get shorter terms or a larger down payment, because the collateral is harder to resell.
Private-party purchases need extra care. The partner will want proof that the seller owns the item outright and that no existing lien is attached. Ask the seller for the title or bill of sale before you go further.
Restaurant and Kitchen Equipment
Ranges, hoods, walk-ins, dish machines and point-of-sale systems are financed the same way: quote, down payment, term. County Business Patterns counted 74 full-service and 92 limited-service restaurant employer establishments in Craven County in 2023. A kitchen line failing mid-shift is one reason a restaurant may need to finance equipment. The restaurant page covers remodels and second rooms as well.
Contractor and Trade Equipment
Skid steers, mini excavators, dump trailers, service vans and specialty tools fall here. Craven County had 199 construction employer establishments in 2023, 64.3% of them with fewer than five employees (County Business Patterns), and for firms that size one machine can be the purchase that shapes the whole year. The contractor page covers how equipment, draws and retainage interact, and the auto repair page covers lifts and diagnostic tools for shops.
Medical and Office Equipment
Exam chairs, imaging, dental operatories, practice software and office fit-outs are financed in the same way, some through partners that specialize in health care. The equipment loans for doctors post goes through a practice's request in detail.
What Partners Ask For
- The dealer quote or seller's listing, with make, model, year and hours or mileage
- Recent business bank statements
- Time in business and an annual revenue range
- Entity details and active status with the North Carolina Secretary of State
- For used items, proof of the seller's ownership and condition details
Not every purchase is equipment. Stock for resale belongs on inventory financing, and a build-out on a term loan. The comparison of all six options and the New Bern, NC data page help place the request.
By Lodgehollow Funding Group · Updated