Equipment financing funds a specific asset, such as construction machinery, a commercial kitchen line or clinical equipment, with the equipment as collateral, through a loan, a lease or an equipment finance agreement. Graniteford Finance, a small-business funding broker in Casper, WY, helps Natrona County owners compare the structures and connects them with lending partners, who make credit decisions and set rates and terms.
| Built for | Buying or leasing a specific asset |
|---|---|
| Collateral | The equipment itself, usually recorded by a UCC filing |
| Structures | A loan, a lease, or an equipment finance agreement (EFA) |
| Partners usually ask for | The quote or invoice, equipment details, bank statements, tax returns |
| Not covered | Trucking fleets and farm equipment are outside our confirmed partner sectors |
| Office | 106 S Wisconsin Ave, Casper, WY 82609, (307) 368-2297 |
How equipment financing works
You choose the equipment and get a quote from the seller. A lending partner reviews the business and the equipment, then pays the seller directly or reimburses you. You make fixed payments over a term that usually reflects how long the equipment stays useful. The partner records its interest in the equipment, most often with a UCC financing statement, and releases it when the debt is paid. Because the asset secures the deal, equipment financing is often easier to place than unsecured funding of the same size, though the partner still decides.
Some partners ask for a down payment; others finance the full price, and some include delivery, installation or software. Ask what the quote covers before you compare offers.
Loan, lease or EFA?
| Equipment loan | Lease | Equipment finance agreement (EFA) | |
|---|---|---|---|
| Who owns it | You do, with a lien until paid | The lessor, during the lease | You do, with the funder's security interest |
| End of term | Lien released | Hand it back, extend, or buy it, as the lease allows | You keep the equipment |
| Suits | Long-lived equipment you will keep | Equipment you will replace or upgrade | Owners who want ownership with a simple contract |
| Read closely | Prepayment and default terms | End-of-lease purchase price and return conditions | Whether the contract can be prepaid and on what terms |
Leases vary widely. A lease with a nominal end-of-term purchase price behaves much like a purchase; a lease with a fair market value purchase option keeps the end cost uncertain. Ask your accountant how each structure is treated for tax purposes; we do not give tax advice.
New or used equipment
Used equipment is often financed, but partners look harder at age, condition, hours and resale value, and may offer shorter terms. A private-party sale may need a bill of sale, a title for titled equipment, and a lien check to make sure the seller's own lender has been paid. A Wyoming UCC search on the seller can show whether a financing statement still covers the equipment.
Equipment in Natrona County's main sectors
Construction had 335 employer establishments in Natrona County in 2023, with 2,597 paid employees (U.S. Census Bureau, County Business Patterns 2023). Ambulatory health care, which includes physician and dental offices, had 237, and restaurants and other eating places had 154 (same source). Each sector's equipment questions differ:
- Contractors: excavators, skid steers, loaders, trailers and work pickups or vans used on job sites. Contractor financing has more.
- Medical and dental practices: imaging systems, dental chairs, sterilization units and practice software. See medical and dental financing.
- Restaurants: ranges, hoods, walk-in coolers, dish machines and point-of-sale systems. See restaurant financing.
- Shops and distributors: shelving, forklifts, refrigeration and POS systems.
Our confirmed partner sectors do not include trucking fleets or agricultural equipment, so we do not arrange funding for those.
Equipment financing or a term loan?
If the money is for one identifiable piece of equipment, equipment financing usually fits better than a general term loan, since the asset secures it and the term can match its working life. A term loan makes more sense when the purchase is bundled with other costs, such as a remodel that includes new equipment, installation and finishes.
Insurance, titles and maintenance
Because the equipment is the collateral, partners usually require it to be insured for its value with the partner named on the policy, and some require proof each year. Titled equipment, such as work pickups and trailers, typically carries the partner's lien on the title until the balance is paid. Keep maintenance records: if you later sell or trade the equipment, they support its value, and the lien must be cleared before ownership passes.
What partners review
- The seller's quote or invoice, with make, model, year and serial number where available
- Several months of business bank statements
- Recent business tax returns, especially for larger purchases
- Time in business and the owner's credit
- For used equipment: condition, hours, and any title or lien documents
How a request moves explains when each document comes in.
By Graniteford Finance · Updated