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Financing Equipment Outside the Bank: A Business's Ultimate Choice

April 8, 2024

In today's fast-paced business environment, acquiring the right equipment is crucial for staying competitive and driving growth. Whether you're a startup or an established enterprise, the decision of how to finance your equipment can significantly impact your bottom line. While traditional bank financing has long been a popular choice, there's a compelling case to be made for exploring alternative financing options. Here's why financing equipment outside the bank could be the best thing your business can do.

1. Faster Approval Process

One of the most significant advantages of opting for alternative equipment financing is the speed of approval. Unlike banks, which often have lengthy approval processes involving extensive paperwork and stringent criteria, alternative lenders typically offer quicker and more streamlined approval processes. This means you can get the equipment you need faster, allowing you to seize new opportunities and meet tight deadlines without delay.

2. Flexible Terms and Customized Solutions

Alternative equipment financing providers understand that every business is unique, with its own set of challenges and opportunities. That's why they offer flexible terms and customized financing solutions tailored to meet your specific needs. Whether you're looking for a short-term lease, a long-term loan, or a lease-to-own option, alternative lenders can offer a range of options designed to fit your budget and cash flow requirements.

3. Preserve Working Capital

Financing equipment outside the bank can help you preserve your working capital, which is essential forcovering day-to-day operational expenses and unforeseen emergencies. By opting for equipment financing, you can spread the cost of your equipment over time, allowing you to maintain a healthy cash flow and allocate your resources more effectively.

4. Accessibility for Small and Medium-sized Businesses

For small and medium-sized businesses (SMBs) with limited credit history or less established financial profiles, traditional bank financing can be hard to come by. Alternative equipment financing providers are often more willing to work with SMBs, offering accessible financing options that can help them grow and expand their operations without the hurdles and restrictions imposed by banks.

5. Tax Benefits and Financial Flexibility

Alternative equipment financing options often come with tax benefits and financial flexibility that can help you maximize your return on investment. Depending on the financing structure you choose, you may be able to deduct your equipment lease or loan payments as a business expense, reducing your overall tax liability. Additionally, alternative financing can provide you with the flexibility to upgrade or replace your equipment as needed, ensuring that you always have access to the latest technology and tools to drive your business forward. We recommend you consult with your accountant as it relates to the tax advantage of equipment financing.



While traditional bank financing has its merits, financing equipment outside the bank offers numerous advantages that can help your business thrive in today's competitive marketplace. From faster approval processes and flexible terms to preserving working capital and accessing tax benefits, alternative equipment financing provides a compelling alternative for businesses of all sizes and industries.


At Easylease, we specialize in providing innovative equipment financing solutions tailored to meet your unique business needs. Our team of experts is committed to helping you find the right financing option that aligns with your goals and helps you achieve success. Contact us today to learn more about how Easylease Equipment Financing can help your business.

For any inquiry, reach out to us on our website or call us at 1-800-293-1119.

Easylease - Empowering Your Business Growth Through Smart Equipment Financing Solutions.