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How much of a down payment do I need for an equipment loan?

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Down payments will be dependent on a variety of factors, including:

  • Time in business
  • Overall business credit
  • Personal credit 

These are the three main items a lender will look into when determining the details of your loan. Down payments can range from no money out of pocket to 20 percent down (or more) depending on the overall profile of the applicant. Applying for financing early in the buying process can help you estimate your potential down payment. This helps eliminate guesswork and can help you avoid surprises prior to finalizing your purchase.

   —Geneva Capital

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Andrew Cavers

Andrew Cavers has 18 years of experience in the lending industry and has spent the last 13 years focused specifically on equipment finance. He's the director of sales for Geneva Capital, an independently-owned niche lender based in Alexandria, Minnesota specializing in creating customizable finance solutions for equipment in the screen-printing, sign, embroidery, and engraving industry.  Website: www.gogc.com LinkedIn: www.linkedin.com/company/geneva-capital-llc Facebook: www.facebook.com/GenevaCapitalLLC Twitter: www.twitter.com/Geneva_Capital

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