Need to Purchase Equipment?
CCEDC Announces New Equipment Financing Option
The Chester County Economic Development Council unveiled a new financing program that allows businesses to acquire a wide range of critical equipment—such as computers, lab equipment, and machinery—without a large cash outlay.
Under the new offering, businesses may finance equipment valued up to $100,000, or upgrade existing equipment, without affecting existing lines of credit. Companies may arrange monthly payments customized to their cash flow, and, at the end of the lease, purchase the equipment outright for just a dollar.
The program, says CCEDC’s financing specialist Jack London, was designed with speed and flexibility top of mind. “The beauty of this program is that applicants will get an answer in 24 hours. They can get approved quickly, get the equipment they need, and payments don’t start until the equipment is up and running. At the end of the term, the equipment is theirs.”
Other highlights of the program include:
- No money needed to secure the lease
- Any company can apply, including startups
- Simplified, one-page application available online
CCEDC has a 60-year history of helping companies access the capital they need to start and grow. To read more about CCEDC’s loan programs, click here.