Every business differs, so we examine several factors when evaluating an equipment loan. OCS looks at both personal and business credit scores. As an equipment financing company, we put more emphasis on your business credit and borrowing history, but we still like to understand your personal credit history. We take an average score between the two to help us determine the deal’s terms and monthly payment. Then we present the information, discuss options, and answer any questions before moving forward.
In many commercial equipment lending scenarios, extra payments are credited towards the next payment, which is one reason why OCS has a soft early payoff option. This allows customers to pay off early without incurring all of the remaining interest.
Please call our customer service team at 877-701-2391 or reach out to your designated Account Manager directly, and they will be happy to provide you with your contact information.
Oakmont Capital Services does require sufficient proof of insurance within 30 days of a contract commencing.
For over 25 years, we’ve been helping businesses secure commercial equipment financing quickly and easily in all 50 states. We can offer a broad range of financing options, including 100 percent financing, no down payment, and up to $500,000 with a simple online credit application. We offer flexible rates and terms with seasonal, skip, and delayed payment options.
An asset earns profit only when it appreciates in value, such as real estate. Therefore, financing an equipment purchase frees up cash flow, builds capital, and gives the customer more financial flexibility, especially since it won’t depreciate.
Equipment financing can reduce upfront costs and improve your working capital position by freeing up cash that can be used for other areas of your business.
Most vendors work with reputable shipping companies; typically, the shipping company has insurance for any damage that occurs in transit. Still, we recommend you speak with your vendor of choice regarding this topic before any funds are transferred.
The loan begins when the funds are released to the seller. The first payment due date is typically set for 30 days unless special terms are offered.
OCS can offer 100 percent financing with no down payment to many customers. Some loans require two payments in advance or special payment scenarios, depending on the approval terms. Additionally, OCS customers incur standard documentation and installation fees, including lien searches, site inspections, UCC filings, and any other costs associated with the transaction. All fees are clearly disclosed in an easy-to-read invoice included in your document package.
It can be! Oakmont Capital Services can help you build and maintain business credit, with all reporting done against the business credit, allowing you to keep personal lines of credit separate. Financing conserves cash flow and credit lines in case of emergency or if unexpected expenses occur. It can also minimize risk by mitigating the uncertainty of investing in the capital assets your business needs until it achieves the desired return and meets other business objectives.
For new customers, the first step is completing a one-page credit application. Oakmont Capital Services can consider approvals up to $500,000. For current customers, call or email any OCS finance professional with your request.
We offer financing in all 50 states, so we may work with a customer’s competitor; however, we handle all transactions professionally and confidentially.
Turnaround time depends on an individual’s credit profile; however, we strive to provide a credit decision within a few hours.
At OCS, we understand that time is of the essence when applying for a loan, so we ensure our financing process is fast, simple, and easy. We can typically provide a credit decision within a few hours (for transactions under $150,000), and we streamline the process with electronic documents and an online remote notary. In most cases, we can offer same-day funding.
With most transactions under $150,000, the pre-qualification process is completed within 2-3 hours. We will then issue the final documentation, and when the equipment is delivered, we’ll be ready to pay the supplier. In most cases, we can offer same-day funding.
Both leases and loans have unique benefits. Leases are flexible and can be tailored to your business needs. The monthly lease payment is sometimes considered an operating expense and creates a line-item deduction against overall revenue. In other instances, an Equipment Finance Agreement (EFA) or loan is the best business decision. The EFA is depreciated and written off over the asset’s useful life. Since every business is different, we recommend consulting with a qualified accountant to determine which option is most beneficial for your business.
For most of our programs, we typically don’t file a blanket lien; instead, we use only the equipment you are financing as collateral. This allows us to file a UCC or a lien on that specific equipment alone.
We typically look for at least two years’ time in business, but we welcome having a conversation about an owner’s business plan, as every situation is unique. At OCS, we try to accommodate our customers’ equipment needs, and we know that not all credit profiles are created equally. We encourage you to contact one of our finance professionals to discuss your needs today!
By financing equipment, you can make purchases more often, staying on top of the latest technological advancements.
Absolutely! We’ll finance soft costs such as delivery, installation, setup, training, sales tax, and even software.
We finance a wide variety of collateral falling under the category of business essential equipment. If you need clarification on what constitutes business essential equipment, we encourage you to contact one of our Business Development Officers or Account Managers. As financing professionals, they can assist you with any questions and guide you to find the financing that best fits your needs.
One determining factor regarding how long you can finance used equipment depends on the equipment’s age. There are a few different factors underwriting takes into consideration when determining the term length approved. The factors may include the applying company’s credit profile, equipment type, value, and age of the equipment. The most common term restrictions involve logging equipment, tri-axle dump trucks, and semi-trucks older than five years.
Equipment financing differs from personal financing and is structured more similarly to a lease than a simple interest loan. With an equipment financing loan, each payment is subtracted from the gross contract balance, which is the sum of your monthly payments (including finance charges). Ask us about our discounted payoffs to understand monthly balances versus payoff amounts.
We are here to help you get the necessary equipment to grow your business. We are experts specializing in equipment financing and working capital loans, allowing you to keep your line of credit open at your local bank. By using Oakmont Capital Services as an additional financing source, you can maintain flexible financing options for your business.
Oakmont Capital Services is a finance source that offers direct funding and works with professional partners that enable us to approve unique or challenging credit applications. This flexibility enables us to fund a wider variety of transactions than traditional lenders.
Banks may appear to charge a lower interest rate; however, there are typically other stipulations required, such as enforcing collection rights for all your business and personal assets. There may be more restrictions and fewer protections than initially expected. Be sure to assess all options when searching for a financing solution that’s right for your business.
For equipment financing, we typically offer terms ranging from 24 to 60 months, and some special programs can offer terms up to 84 months. We also have programs that extend beyond 84 months on a small business loan. Additionally, Oakmont Capital Services offers seasonal, skip, and delayed payment options to help your business meet its financial needs.
Yes, we do! We can offer equipment financing in all 50 states for almost any type of business equipment. We do have several industries that we focus on, but we are considered a general equipment finance company.
