Financing a specific asset
Equipment financing is for a defined physical purchase: a truck, a forklift, a commercial kitchen line, a printing press, a lab instrument, a welding station. Because the asset produces revenue, you can compare the payment against what it brings in. Terms depend on the asset and the business, and we do not publish them. Funding runs from $25,000 to $5,000,000 and can arrive in as little as 24 hours.
What Oakland businesses tend to buy
Around the port
Wikipedia describes the Port of Oakland as a major West Coast port and the busiest in Northern California. Equipment for cargo handling, yard work, repair and trucking follows. Our port and logistics page covers that setting.
Food and beverage
The city's reputation for restaurants and bars grew in recent years, according to the same article. New kitchens mean hoods, walk-in coolers, ovens and espresso equipment.
Makers and studios
Wikipedia says Oakland claims the highest concentration of artists per capita in the United States. Studios and small production shops buy kilns, presses, cutting tables and printers.
Test the asset before you buy it
| Question | Why it matters |
|---|---|
| What does it earn per week? | The payment has to fit inside that figure |
| What is the downtime risk? | A machine that breaks often costs more than the payment |
| Who will run it? | An asset without an operator earns nothing |
| What is its useful life? | Financing should not outlast the asset |
An illustration
For illustration only: a small bakery considers a $45,000 oven line that would let it supply two cafes. If each cafe order adds $2,500 a month in revenue and the extra ingredients, labor and delivery take about two thirds, the extra margin is $1,650. The payment must fit comfortably inside that figure and the bakery's existing margin. If it only works with a third customer that has not signed, wait for the third customer.
New, used or leased
Used equipment lowers the starting price and can be a smart choice for a well-maintained machine, though repairs can erase the saving. New equipment brings a warranty and a longer working life. Leasing may keep the payment lower and suits assets that become outdated quickly, such as computers or some kitchen technology. Whichever route you pick, get the vendor's quote in writing before you apply, so you request exactly what the purchase costs.
Also think about installation, delivery and training. An oven line that needs a new electrical panel is a bigger purchase than the sticker suggests, and the extra cost belongs in the amount you request.
Applying
We consider FICO scores of 500 and above, ask for about three months of business bank statements, require no tax returns, and use a soft credit pull on a five-minute application. Sole proprietors can apply. If the purchase is broader than one asset, see term loans or working capital. Apply here.