Crownwick Advances, a small-business funding service in Lancaster, PA, arranges equipment financing for new and used machines, vehicles and fixtures. The equipment usually secures the deal and the term follows its working life. Partners review the quote, the business's deposits and credit before setting the structure, term and cost.
| What it pays for | Machines, vehicles, kitchen lines, lifts, chairs |
|---|---|
| Usually secured by | The equipment |
| Structures | Loans, leases or finance agreements |
| Manufacturing payroll, county | About $2.63 billion (CBP 2023) |
| Fabricated metal shops, county | 200 (CBP 2023) |
| Payment estimate | CNC machine calculator |
Business loan to buy equipment: the basics
Equipment financing pays a vendor for a specific piece of equipment and lets you repay over time, with the equipment as collateral. Because the partner can recover the asset if payments stop, the equipment itself is part of what secures the deal. The quote or invoice is the center of the file: make, model, serial number where known, price, and whether the seller is a dealer or a private party.
To estimate a payment before you call, try the CNC machine payment calculator. It works for any equipment: enter the price, your down payment, a rate you were quoted and a term, and it returns the monthly payment and total cost.
Used equipment financing
Used equipment can be financed: a five-year-old machining center or a used skid steer may do the same work at a lower purchase price, so compare the total cost in dollars. Partners treat it a little differently. They want to know the age and hours, the condition, and the source; private sales may need an inspection or an appraisal, and the term may be shorter because the asset has less life left.
Used construction equipment financing follows the same logic. Excavators, compact loaders and trailers can be financed, and a dealer invoice with hours listed gives the partner what it needs to review the asset.
Restaurant and kitchen equipment
Ranges, hoods, walk-in refrigeration, dish machines and point-of-sale systems are all financeable. Lancaster County had 808 restaurants and other eating places with employees in 2023, employing 15,495 people (CBP 2023). A new kitchen may finance the line as a package; an established one may replace pieces as they fail. The restaurants and food businesses page covers both cases.
Trucks, tools and machines for the trades
Trades finance work trucks, trailers, lifts, compressors, laser levels and jobsite generators. The contractors and builders page explains how equipment payments sit alongside job draws. Repair shops finance lifts, alignment rigs and scan tools; the auto repair shops page and our auto repair funding post go through those purchases.
Machine shops are part of the county's manufacturing base: the county counted 200 fabricated metal product manufacturers in 2023 with 5,778 employees (CBP 2023). Our post on financing a metal or machine shop in Lancaster County, PA covers CNC purchases, tooling and long customer payment terms. Salon chairs, dryers and shampoo units are financeable too; see funding a hair salon or barbershop.
Equipment loan vs lease
| Structure | Who owns it | End of term | Often suits |
|---|---|---|---|
| Equipment loan | The business, subject to a lien until payoff | Lien released | Equipment you intend to keep long-term |
| Fair-market-value lease | The lessor | Hand back, extend, or buy at fair market value | Tech that dates quickly |
| Dollar-buyout lease | Lessor holds title through the term | Buy for a nominal amount | Assets you want to own, financed as a lease |
| Equipment finance agreement | You | Paid off, no residual | A loan-like deal; paperwork varies by partner |
The equipment loan vs lease decision mostly turns on whether you want the asset at the end and how long it stays useful. Tax treatment differs too; ask your accountant rather than relying on a sales pitch.
How long an equipment term can run
Usually for some part of the equipment's useful life, and rarely beyond it. A partner will not want the loan to outlast the machine. Long-lived equipment such as heavy machinery and kitchen lines may support longer terms than computers or vehicles with high mileage, and used equipment may get shorter terms than new. The partner sets the actual term after review; we do not quote ranges in advance.
- The quote or invoice, with model and condition
- A run of recent business bank statements
- Time in business and personal credit of the owners
- Any trade-in or down payment you plan to make
Compare equipment financing against a term loan if the purchase is part of a larger project, and see all six options or how it works for the steps.
By Crownwick Advances · Updated
