Equipment Loans Provide Great Rates
Thursday, December 29th, 2011For the most part, equipment loans are only available through “A” equipment lenders, so the rates tend to be very good and in many cases the best rates available for equipment financing purposes.
The big item to watch out for with equipment loans is whether the loan is written as a demand or term loan.
With a demand loan, the facility can be called by the lender at any time and for any reason, even if all the payments have been made on schedule.
Term loans cannot be called or acted upon by the lender unless there is a payment default.