Hazelgrove Lending Group helps businesses in Redding, CA arrange equipment financing and leasing for new and used equipment: lifts, exam chairs, kitchen lines, mowers, trucks and tools. This page covers used equipment, restaurant and contractor equipment, the differences between a loan, a lease and an equipment finance agreement, and what partners review.
| Pays for | Machines, chairs, ovens, mowers, trucks |
|---|---|
| Usually secured by | The equipment itself |
| Payments | Fixed, over the equipment's working life |
| Paperwork | A quote or invoice from the seller |
| Options | Own it, lease it, or sign an EFA |
| Decided by | The funding partner |
Used equipment financing
Used equipment financing works much like financing new gear, with two extra questions: what is the machine worth today, and how long will it keep working? Partners lean on the seller's invoice, the age and hours, and sometimes an inspection or appraisal. Older equipment may get a shorter term so that the loan is paid off well before the machine wears out.
Dealer sales and private sales are documented differently: a dealer provides an invoice and title. A private sale can still work; expect the partner to ask for proof of ownership and a bill of sale.
Restaurant and kitchen equipment
Restaurant equipment financing covers ranges, hoods, fryers, walk-in coolers, dish machines and point-of-sale systems. Kitchen gear is specialized and can lose resale value, so partners weigh the restaurant's cash flow as much as the equipment.
Shasta County counted 139 full-service and 130 limited-service restaurants in County Business Patterns 2023. The restaurant funding page covers walk-in coolers, POS systems and renovation in more detail.
Contractor and construction equipment
Contractor equipment financing covers excavators, skid steers, trailers, work trucks, scaffolding, sprayers and specialty tools. Partners looking at contractor equipment weigh the machine's resale value and the market for it.
Match the term to the work. A machine that will run on every job for ten years can carry a longer term than one bought for a single contract. If the contract is the only reason to buy, consider renting until the next one is signed.
Practices and shops: chairs, lifts and diagnostics
Medical and dental offices finance exam tables, imaging and sterilization equipment; Shasta County had 142 physician offices and 64 dental offices in 2023, covered on the medical practices page. Repair shops finance lifts, alignment racks and scan tools; the county counted 129 auto repair and maintenance establishments, and the auto repair page walks through them.
To estimate a monthly payment from a price, a down payment, a rate and a term, use the equipment payment calculator.
Loan vs lease vs equipment finance agreement
| Structure | Who owns it | At the end | Often chosen when |
|---|---|---|---|
| Equipment loan | You, with a lien until paid off | Lien released; you keep it | The machine will be used for many years |
| Lease | The leasing company until the lease ends | Hand back, extend or buy, as the lease says | Gear that ages quickly or needs regular upgrades |
| Equipment finance agreement (EFA) | The buyer, from day one | Final payment; you keep it | You want ownership under a payment agreement rather than a loan |
Equipment financing vs leasing comes down to ownership and what happens at the end. An equipment finance agreement vs a loan is a narrower difference: both lead to ownership, but an EFA is a contract to pay for the equipment rather than a loan of money, which can change how fees and early payoff work. Read the end-of-term clause before signing anything.
Business loan to buy equipment: what partners usually review
- A quote or invoice with the make, model, year and price
- For used gear: age, hours or mileage and the seller's details
- Recent bank statements and revenue range
- Time in business
- Whatever you plan to put down
Growing businesses can pair equipment financing with a term loan; our post on funding an expansion in Redding, CA explains when. Compare all six structures on the comparison page, read how it works, or see the Redding, CA data page.
