Best For
- Vehicles, machinery, kitchen and medical equipment
- Keeping cash free for operations
- Assets with a long useful life
Equipment Financing, Secured by the Equipment Itself
Finance new or used equipment, with the equipment serving as collateral.
Velo is not the lender.
Equipment Financing
- Choose Your Equipment(Done)
- Apply with Velo(Done)
- The Lender Pays the Vendor(In progress)
Illustrative example.
Process3 steps
How It Works
Step 1: Choose Your Equipment
Pick what you need and get a quote from your vendor.
Step 2: Apply with Velo
One short application, plus the vendor quote.
Step 3: The Lender Pays the Vendor
If a lender approves, it pays the vendor and you repay on its terms.
FitEquipment Financing
Is It the Right Fit?
Consider Something Else If
- You need working capital rather than an asset.Same-Day Business Funding
Before you apply
What We Look at, and What You'll Need
What We Look At
- Typically 1+ year in business
- A quote or invoice for the equipment
- Personal credit typically 600+
- Final requirements are set by each lender
What You'll Need
- Last 4 months of business bank statements
- Driver's license or other government ID
- A voided business check
- For larger requests: a recent business tax return or financial statements
Requirements vary by product and are reviewed case by case. Meeting them doesn't guarantee approval.
CostDisclosures
Cost & Disclosures
In short
- A third-party lender decides and sets terms
- APR and fees disclosed by the lender
- Velo may be paid by the lender
Lines of credit, term loans, equipment financing, SBA loans and home equity lines of credit are made by third-party lenders, subject to their credit approval and terms. Velo is not the lender and may receive compensation from the lender. APRs, fees and terms vary by lender and are disclosed by the lender before you sign.
Questions, Answered
Booking a call or starting an application on this site doesn't involve a credit check. Our initial review uses a soft inquiry that doesn't affect your credit score. If you move forward with an offer, the lender or funder may obtain a report that results in a hard inquiry, and we'll tell you first.