I answered a similar question about business vehicle financing on this site, here is a summary:
Sources available to you will depend on a few things.
- Time in business - if you 've been in business under 2 years it is generally more difficult to obtain financing, however, it is available and you should expect to pay higher rates due to the increased risk.
- Age of the vehicle - older vehicles are more difficult to finance. Some banks will finance used business equipment but an equipment financing company should have no problem with used equipment, as long as the age isn't too old.
- Speed - equipment financing companies can typically move faster than banks, but may be more expensive depending on several other factors including those covered above.
Another consideration is the deduction available through Section 179. See
www.section179.info for more.
Let me know if you need clarification or additional information.
Source: http://www.section179.info