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Why Use Equipment Financing?

Business Banking Solutions Specialty Finance Equipment Finance

It’s nearly impossible to name a business with no equipment needs. (Let us know if you think of one!) Businesses in all types of industries need specialized or heavy equipment, so this episode of the First Business Bank Podcast kicks off our discussions with two of our Equipment Finance experts. They briefly touch on offering financing for equipment from the seller, manufacturer, or distributor side of the transaction, and then focus on acquiring capital equipment. At First Business Bank, we work with business owners in both scenarios and have valuable experience and insights to share.

As a business acquiring new, used, or rental equipment, why would you consider equipment financing over traditional commercial lending? This episode gets to the bottom of those competitive advantages for your business, including:

Potential tax advantages for your business with equipment financing
Access to experienced experts with industry equipment expertise
A customized approach to ensure your business acquires equipment efficiently
Specialized equipment finance solutions for seasonal businesses, such as construction or agriculture
Convenience of a streamlined application process

Choosing an equipment finance partner for your business is more than just terms and interest rates. An experienced equipment financing provider will look at your entire business and how you plan to grow over the useful life of the equipment to create a smart solution for your business that you’ll appreciate for years to come.

6 Benefits of Equipment Financing

Read the Article

Businesses need equipment to make money — this holds true even during times of economic volatility and recession. The Equipment Leasing & Finance Association (ELFA) shows that nearly 80% of businesses finance equipment acquisitions each year, including equipment like computers, office furniture, work vehicles, and equipment for manufacturing and construction. ...

Featured Experts

Mark Meloy

Executive Vice President of First Business Financial Services, Inc.

Mark Meloy serves as Executive Vice President of First Business Financial Services, Inc., parent company of First Business Bank. He has enjoyed more than 40 years of commercial banking, joining First Business Bank in 2000 where he held various positions, including Chief Executive Officer, President, and Executive Vice President.

David Sook

Vice President - Equipment Finance of First Business Specialty Finance, LLC

David Sook serves as Vice President - Equipment Finance, bringing more than 25 years of experience in equipment finance to his role. His expertise covers a wide variety of industries including healthcare, technology, and municipal markets. David's recent focus has been on helping clients nationally in the municipal equipment finance market, leveraging both direct end-user and vendor relationships.

Stuart Goddard

Managing Director - Equipment Finance of First Business Specialty Finance, LLC

Stuart Goddard joined First Business Bank's Equipment Finance team in Milwaukee in 2018. He has more than 30 years of senior level equipment leasing and financing experience.