Equipment financing: How to successfully apply

Whatever your business needs,  successfully navigating the equipment financing application process is essential.

Ritchie Bros. Financial Services provides a wide range of services, including flexible financing and leasing, capital solutions, dealer financing, secure transaction management, and more.

We’re here to guide you through each step with valuable tips that will make your experience as smooth as possible.

1. Explore your financing options

Equipment financing can be provided in a variety of ways – including loans, leases and lines of credit – and each has distinct advantages. Selecting a financing option that aligns with your business goals and cash flow is essential, and our Finance Account Managers can provide you with expert guidance to meet these needs.

2. Complete the application carefully

When you fill out the application, please pay attention to details and ensure all information is accurate. Be prepared to provide info about the equipment you’re financing, your business, and your financial history. Supporting documents may be required. Your Account Manager will be in touch with you within 48 hours.

You can apply for financing online or by calling 1.855.331.5750 and speaking with a Ritchie Bros. Financial Services Account Manager.

3. Understand the terms and conditions

Once we receive and begin processing your application, your dedicated Account Manager will reach out to you within 2 business days.

If you have pre-approval, please carefully review all terms and conditions.

4. Shop for equipment anywhere

You may already have a piece of equipment in mind. Our flexible financing allows you to purchase from Ritchie Bros. auctions, Ritchie List, IronPlanet, Marketplace-E, dealerships or private sales. Please reach out to your Account Manager so they can  get the ball rolling.

5. Sign documents

Your Account Manager will contact you with terms and conditions for your loans or leases. We’ll send you the necessary documents to sign, and upon receipt of all required paperwork, our lender will furnish funds within 3-4 business days.

Once funds are received, your Account Manager will reach out to begin arranging pickup of your equipment.

Don’t hesitate to reach out to us for any questions throughout your equipment financing experience.

See also

How to sell surplus for government agencies: 5 tips for better results