{"id":967,"date":"2022-12-03T18:09:21","date_gmt":"2022-12-03T23:09:21","guid":{"rendered":"https:\/\/adiacapital.com\/?page_id=967"},"modified":"2023-10-19T14:10:16","modified_gmt":"2023-10-19T18:10:16","slug":"faq","status":"publish","type":"page","link":"https:\/\/adiacapital.com\/faq\/","title":{"rendered":"FAQ"},"content":{"rendered":"\t\t
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Equipment Financing FAQ <\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Equipment Financing FAQ <\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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After 35 years in the equipment financing business, we\u2019ve answer a LOT of questions! Many of which you probably have right now.<\/span>\u00a0<\/span><\/p>

So, we\u2019ve developed this FAQ (Frequently Asked Questions) to answer your most important questions. You can also call or email us at any time if you\u2019d like to talk over these answers in more detail OR have one we missed.\u00a0<\/span>\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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\n \n \n Will you approve start-up businesses less than 2 years old? <\/span>\n\n \n
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Yes!<\/strong>\u00a0We have lots of great start-up programs. The number one question new business owners ask is whether they can get credit and we want them to know that it\u2019s not only possible, but probable.<\/p> <\/div>\n\n <\/div>\n\n <\/div>\n\n \n

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\n \n \n Do I need to have my business registered before I apply?<\/span>\n\n \n
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No. Lots of programs don\u2019t even require that you have your business registered before we start the contract.\u00a0 Just apply using the business name you are considering, list your home address for the business address, mark the box next to \u201cSole Proprietorship\u201d and list your SSN in place of the Federal EIN.\u00a0 That\u2019s all we need to get the process started for you.<\/p> <\/div>\n\n <\/div>\n\n <\/div>\n\n \n

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\n \n \n What is the Process?<\/span>\n\n \n
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Just decide on the equipment you would like to process (equipment company you want to buy from, type of equipment and estimated cost) and then apply by clicking the Application tab at the top of the page.\u00a0 We will either reach out for any additional info we need in a couple hours or we will have a decision for you in about 4 business hours.\u00a0 Once you are approved, we will email you approval terms to review and a finance rep will follow up to answer questions and walk you through the next step.<\/p> <\/div>\n\n <\/div>\n\n <\/div>\n\n \n

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\n \n \n What if my personal credit is not so perfect? <\/span>\n\n \n
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Not many applicants have anything close to \u201cprefect credit\u201d and we do have options for that. Today constantly checking your personal credit reports and obsessing over every little change in your score can make applying for credit concerning but we try to make the process easy whether your credit score is in the excellent range or the \u201cneed some work\u201d range.<\/p> <\/div>\n\n <\/div>\n\n <\/div>\n\n \n

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\n \n \n Do you offer lease-to-own finance?<\/span>\n\n \n
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Yes, we have programs that offer $1, 10%, and term-residual purchase options. This gives you more options so you can choose what works best for your business.<\/p> <\/div>\n\n <\/div>\n\n <\/div>\n\n \n

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\n \n \n Can I pay the lease off early? <\/span>\n\n \n
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Most programs allow an early buyout and some offer \u201cno penalty\u201d early buyouts.\u00a0 This will depend on the approval terms and what type of contract you do.\u00a0<\/p> <\/div>\n\n <\/div>\n\n <\/div>\n\n \n

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\n \n \n Can I lease used equipment? <\/span>\n\n \n
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Definitely, if you are buying from an approved equipment vendor.\u00a0 We also have options to finance used equipment you are buying from another business but you would need to call to discuss those details before applying.<\/p> <\/div>\n\n <\/div>\n\n <\/div>\n\n \n

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\n \n \n Can I return the equipment and stop payments?<\/span>\n\n \n
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No. You will have to fulfill the contract but if you are looking to trade-in <\/strong>your equipment and upgrade<\/strong> to new equipment, that is definitely an option.\u00a0 Most programs allow a discounted buyout so you can upgrade throughout the term.\u00a0 If you are interested in more details on that, feel free to give us a call.<\/p> <\/div>\n\n <\/div>\n\n <\/div>\n\n \n

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\n \n \n Is Equipment Leasing the same as Renting?<\/span>\n\n \n
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No, when you finance equipment through a lease, it\u2019s a lease-to-own contract where you will pay the monthly payment and then at the end of the term, if you want to keep the equipment, you just pay the purchase option and the equipment belongs to you.<\/p> <\/div>\n\n <\/div>\n\n <\/div>\n\n <\/div>\n <\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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\n \n \n What is the interest rate?<\/span>\n\n \n
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That will depend on your time in business, strength of credit, type of equipment, cost, term, etc.\u00a0 Luckily, Adia Capital has access to the very BEST in options and we can get you all those details with your finance application approval.<\/p> <\/div>\n\n <\/div>\n\n <\/div>\n\n \n

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\n \n \n How soon do my payments start once the equipment is delivered? <\/span>\n\n \n
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Usually, your next payment would be due 30 days after we pay the vendor but we often have 90-day deferred options too<\/p> <\/div>\n\n <\/div>\n\n <\/div>\n\n \n

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\n \n \n Is the lease transferable? <\/span>\n\n \n
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In some cases, you can transfer your contract to an approved applicant if you want to sell the equipment or your business.<\/p> <\/div>\n\n <\/div>\n\n <\/div>\n\n \n

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\n \n \n How long does it take for a lease to be approved? <\/span>\n\n \n
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It can happen in as little as 4 business hours! Sometimes longer if we have requests for income, proof of business, bank verification, etc.<\/p> <\/div>\n\n <\/div>\n\n <\/div>\n\n \n

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\n \n \n Are lease rates fixed for the entire term? <\/span>\n\n \n
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Yes, payments on our contracts are fixed.<\/p> <\/div>\n\n <\/div>\n\n <\/div>\n\n \n

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\n \n \n Can I finance additional costs like shipping, installation, and training?<\/span>\n\n \n
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Almost all equipment manufacturers and distributors include training, shipping, support and installation at the time of purchase. In that case you can usually wrap it all into your equipment financing.\u00a0<\/p> <\/div>\n\n <\/div>\n\n <\/div>\n\n \n

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\n \n \n Are all contracts lease contracts?<\/span>\n\n \n
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No. We offer both leases and Equipment Finance Agreements which works like loans. Sometimes the best type of contract for you is based on your approval but sometimes you would have options for both.<\/p> <\/div>\n\n <\/div>\n\n <\/div>\n\n \n

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\n \n \n How does commercial equipment financing affect my credit score?<\/span>\n\n \n
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Most of commercial contracts don\u2019t affect your personal credit because the debt doesn\u2019t report to you personally on your credit bureau.\u00a0<\/p> <\/div>\n\n <\/div>\n\n <\/div>\n\n <\/div>\n <\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Equipment Financing FAQ Equipment Financing FAQ After 35 years in the equipment financing business, we\u2019ve answer a LOT of questions! Many of which you probably have right now.\u00a0 So, we\u2019ve developed this FAQ (Frequently Asked Questions) to answer your most important questions. You can also call or email us at any time if you\u2019d like […]<\/p>\n","protected":false},"author":7,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"yoast_head":"\nFAQ - Adia Capital<\/title>\n<meta name=\"description\" content=\"What's the difference between financing and leasing? Are deferred payments a good idea? How long do I have to be in Business? 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