Cooking Up Clarity: FAQ's

What types of equipment can I finance?

We can help you finance all kinds of restaurant equipment, whether it’s a small replacement or a major kitchen renovation. We can finance both new and used equipment, as long as there’s reasonable life left in it. For example, we generally avoid financing equipment that’s too old or nearing the end of its useful life. We can also include certain soft costs as part of the financing; different funding sources have different split requirements, so reach out to us for more information! Have a quote you’re unsure about? Feel free to send it over, and we’ll gladly review it to see what we can do!

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How quickly can I get approved for financing?

The approval process is quick! For financing amounts over $50k, we typically provide a decision within 24 hours. For amounts under $50k, you can usually expect approval within just a few business hours. We know time is important, so we aim to keep the process as fast and efficient as possible.

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What are the typical terms and payment options available?

We offer flexible terms ranging from 12 - 84 months*, so you can choose a repayment plan that fits your budget. We also have options for deferred payments, which can help you get started without immediate financial pressure. Additionally, we offer early payoff programs if you're able to settle your balance early. Depending on your needs and qualifications, we can provide both traditional financing and loan products. There are also working capital options available to help with other expenses you might have. We’ll work with you to find the best solution!

*Term lengths can depend on equipment type, your Account Manager will let you know what your equipment qualifies for!

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Do I have to provide a down payment?

It depends on the funding source, as each one may have different requirements. However, in most cases, you’ll need to cover a documentation fee and the first month's payment upfront. We’ll walk you through the specifics based on the option that works best for you.

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What credit score is required for approval?

While the exact credit score required can vary, we typically work with customers who have a credit score of 550 or higher. If your score is lower, we may still be able to find a solution, and you also have the option to add a co-signer to increase your chances of approval. If you don't qualify initially, we're happy to re-evaluate once your score improves.

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How long does it take to receive my equipment after approval?

Once your agreement is in place, your equipment dealer will release your order based upon the agreed timeline. If there’s a delay in delivery, be sure to review your agreement so that you know when your first payment is due and understand the full terms of the financing.

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Can I pay off my financing early?

While there is typically no pre-payment penalty, paying off your finance agreement early may not offer significant benefits, as the principal and interest are not separated in most cases. However, for qualified customers, we offer early payoff options that allow you to save on interest for part of your term. Your Account Executive will walk you through the best options to ensure they align with your goals.

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What happens if my equipment breaks down during the financing period?

If your equipment breaks down during the financing period, this will be handled between you and either the equipment dealer or the manufacturer, depending on the warranty. Please note that a breakdown does not cancel your financing agreement and you'll still be responsible for your payments as outlined in the terms of your agreement.

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How do I apply for financing?

Simply reach out to us at 224-344-2910 or click here to apply. Our application process is straightforward, involves only a soft credit pull, and there is never any cost to receive a quote. We're here to answer any questions and to guide you through the process.

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Can I finance multiple pieces of equipment at once?

Yes, you can! We offer financing for individual pieces of equipment as well as full buildouts, so whether you’re upgrading a single item or outfitting an entire space, we’ve got you covered.

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What happens if my business grows or changes during the financing term?

If your business changes ownership, we may be able to transfer the agreement to the new owners. If your equipment moves to a new address during the term, please contact us right away so we can update our records. We’re committed to making your experience seamless, and we’ll work with you to address any changes or challenges that arise.

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I have challenged credit; can I still qualify?

Yes, we can typically find financing options for customers with credit scores starting around 550. If you're not immediately approved, we’ll let you know and we may be able to revisit your application once your credit improves. You also have the option of adding a co-signer to strengthen your application. We’ll work closely with you to explore the best options available.

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Can I finance repairs or upgrades to existing equipment?

We cannot finance repairs to existing equipment. However, financing can help you avoid the time and cost of constant repairs by upgrading to newer equipment that better fits your needs, all with the ease of affordable monthly payments.

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Are there tax benefits to financing?

Yes! Financing equipment can offer several tax benefits:

1. Section 179 Deduction – Many businesses can deduct the full cost of financed equipment in the year it’s put into service, rather than depreciating it over time.

2. Depreciation Deductions – If Section 179 doesn’t apply, businesses may still be able to deduct depreciation expenses over the equipment’s useful life.

3. Interest Write-Offs – In many cases, the interest paid on equipment financing may be tax-deductible.

Always consult a tax professional to understand how these benefits apply to your specific situation.

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What are your rates?

Rates are based on creditworthiness, time in business, and equipment type. Unlike traditional loans, the lien is put on just the equipment itself as opposed to your home and other assets. There is no harm in seeing what you qualify for because if you apply, you are under no obligation to accept the terms.