Aspenhollow Business Capital, based in Olympia, WA, arranges equipment financing and leasing through funding partners for Thurston County businesses buying new or used equipment. This page covers used equipment financing, restaurant and contractor equipment, the difference between a loan, a lease and an equipment finance agreement, and what partners review.
| Covers | Machines, vehicles, kitchen lines, chairs, tools |
|---|---|
| Secured by | Usually the equipment |
| Structures | Loan, lease or equipment finance agreement |
| New or used | Both; used is reviewed on age and condition |
| Thurston County, WA restaurants | 384 full- and limited-service (191 + 193, our arithmetic from CBP 2023) |
How a business loan to buy equipment works
A partner pays the seller, and the business repays over a term that roughly matches the equipment's working life. Because the equipment secures the agreement, partners care about what it is, what it is worth, and how easily it could be resold. That is why a quote with make, model, year and serial details gives a partner more to review than a description.
Try the numbers first with the equipment payment calculator, which shows the monthly payment and total cost including the down payment for a price, rate and term you enter.
Used equipment financing
Used equipment can be financed, and used equipment is an option for trades, kitchens and shops. Partners look at age, condition, hours or mileage, and who is selling it. A dealer sale with an inspection report gives the partner more to verify than a private sale. Terms on used equipment can be shorter, because the remaining working life is shorter.
Questions to answer before asking: how old is it, who inspected it, what will it cost to get running, and what would it sell for in a year? Used equipment financing companies differ in how old an item they will fund, so the request should name the item exactly.
Restaurant and kitchen equipment
Restaurant equipment financing covers ranges, hoods, walk-in coolers, dish machines, POS systems and espresso machines. Kitchen lines can be bought as a package, and installation costs (gas, electrical, ventilation) may or may not be financeable with the equipment. Ask the seller to separate equipment from installation on the quote.
How to finance restaurant equipment for a new location: get quotes early, decide what can be used, and keep the build-out on a separate track. Thurston County, WA had 191 full-service and 193 limited-service restaurants plus 105 snack and nonalcoholic beverage bars in 2023 (CBP 2023). See restaurant funding and financing espresso equipment for an Olympia, WA café.
Contractor and construction equipment
Contractor equipment financing covers excavators, skid steers, trailers, work trucks, lifts, sprayers and specialty tools. Partners look at what the equipment is worth and how it could be resold, so a quote with make, model and year matters. Thurston County, WA had 873 construction employer establishments in 2023 (CBP 2023). See funding for contractors and builders.
Loan vs lease vs equipment finance agreement, side by side
| Structure | Who owns it during the term | At the end | Good to ask |
|---|---|---|---|
| Equipment loan | You, with a lien | You own it outright | Is there a prepayment penalty? |
| Lease | The lessor | Return, renew or buy, depending on the lease | What is the buyout amount? |
| Equipment finance agreement (EFA) | You, with the funder's security interest | You own it after the last payment | How does it differ from a loan in this offer? |
Equipment financing vs leasing comes down to ownership, end-of-term options and total cost. The difference between an equipment finance agreement and a loan can be in the paperwork rather than the payments; read both carefully.
Health, personal care and auto equipment
Practices may finance treatment tables, imaging and chairs; see chiropractic, therapy and optometry and the chiropractic start-up post. Salons may finance chairs, dryers and stations; see salon funding questions. Leasing space first? Read leasing commercial space in Olympia, WA. County figures for Olympia, WA are on the city page.
Matching the term to the equipment's life
A useful rule of thumb: the financing should end before the equipment stops earning. A mower replaced every few seasons should not be on a seven-year agreement; a walk-in cooler or a lift that runs for many years can carry a longer one. Ask the seller how long similar units usually last in service, and ask the partner what terms it offers for that kind of equipment. A shorter term raises the payment and lowers the total cost.
What partners review for equipment financing
- The seller's quote with make, model, year and condition
- Business bank statements
- Time in business and revenue range
- Owner credit
- Existing equipment payments
How a request moves covers the steps; the comparison page shows the other options.
By Aspenhollow Business Capital · Updated