What Is An Equipment Loan And How Does It Work?

What Is An Equipment Loan And How Does It Work?

A mechanic works on a car.

Monty Rakusen/Getty Images; Illustration by Austin Courregé/Bankrate

Key takeaways

A business equipment loan is designed specifically for buying equipment and is secured by the equipment itself
Equipment loans can’t be used for…

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19 June 2024

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