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Machinery/Equipment Acquisition Loans
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Most businesses need machinery and/or equipment to operate, whether it is office equipment such as computers, copiers, or fax machines or large industrial machinery. RREDC can finance almost any type of equipment and/or machinery (new and used).
Loan amounts range from $5,000 to $300,000 (some restrictions may apply). We can also make larger loans using funds from the Headwaters Loan Fund.
Machinery and/or equipment loan terms can range from 5 to 10 years, depending on the life of the equipment being purchased. Most small pieces of equipment have a life of about 5 years, whereas, most large pieces of equipment have a 7 to 10 year life.
Interest rates are fixed and depend entirely on current market factors and the overall risk of the business and/or project.
Machinery and/or equipment loans require a 10% to 25% owner equity injection (down payment), depending upon a variety of factors.
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| RREDC 520 E Street, Eureka, Ca., 95501
Phone: 707-445-9651 FAX: 707-445-9652 | |
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