Hazelford Funding, a small-business funding service in Lebanon, Tennessee, arranges equipment financing and leasing through partners for new and used machinery, vehicles, kitchen lines, medical and therapy equipment, and tools. The equipment usually serves as collateral, which makes the request easier to frame. Partners review the quote, the item's age and condition, and the business's cash flow before setting terms.
| Wilson County, TN construction firms that pay wages | 405 payroll sites (2023 CBP release) |
|---|---|
| Restaurant employers in the county | 135 limited-service plus 80 sit-down restaurants (CBP 2023) |
| What anchors it | The equipment being financed or leased |
How equipment financing works
An equipment loan pays the seller and is repaid in installments, with the equipment as collateral until the balance is cleared. A lease lets the business use the item for a set period in exchange for regular payments, with options at the end. In both cases the request starts with a quote: make, model, price, and whether the item is new or used.
Because the item secures the deal, partners care about what it would be worth if it had to be sold. Common, well-supported equipment is easier to fund than a one-off custom build.
Used equipment financing
Used equipment financing is available, and for a small business it can be the realistic option. Partners look at a few extra points on used gear:
- Age and hours: the year, the hours or mileage, and how much useful life remains.
- Inspection: a condition report or photos, especially on engines, hydraulics and refrigeration.
- Dealer vs private sale: dealer sales come with an invoice and often a title history; private sales need a bill of sale and proof the seller owns the item outright.
- Value check: some partners compare the price with auction or dealer values before funding.
A shorter term than on new equipment is possible, since the item has fewer working years left.
Commercial kitchen equipment financing for Wilson County, TN restaurants
Ranges, fryers, hoods, walk-in coolers, ice machines and dish lines all fit equipment financing. Buying used restaurant equipment can save money, but partners will ask about the condition of refrigeration and gas lines, and the hood may need inspection before it can be used. Wilson County, TN had 80 full-service and 135 limited-service restaurant employers in 2023 (County Business Patterns 2023). The restaurant funding page covers kitchen remodels and second locations as well.
Skid steers, excavators and a business loan for construction equipment
Skid steers, mini excavators, trailers, compressors and work trucks are standard contractor requests. How to finance construction equipment comes down to three choices: buy new on a loan, buy used on a shorter loan, or lease for a fixed period. Contractors with steady work may buy; those whose work is less predictable may prefer a lease. The construction funding page explains how draws and retainage affect the payment timing.
Lease or buy: which suits a Lebanon, TN business?
| Equipment loan (buy) | Lease | |
|---|---|---|
| Ownership | The business owns it once the loan is paid | The partner owns it during the lease |
| Fits | Gear you plan to run for years | Gear that dates quickly or is needed for a set period |
| End of term | Lien released, item kept | Return, renew or buy, depending on the lease type |
| Tax treatment | Ask your accountant | Ask your accountant |
FMV lease or $1 buyout: the end-of-term choice
A fair market value lease ends with the option to buy the item at its market value at that time, return it, or renew. A $1 buyout lease is structured so the business owns the item for a nominal payment at the end; it behaves much like a loan. FMV leases usually carry lower periodic payments because the business is not paying for the whole item. Which is right depends on whether you plan to keep the equipment past the lease, and your accountant should weigh the tax side.
An equipment request, item by item
Equipment files move faster when every machine is described the same way. For a Wilson County, TN business adding several items at once, a simple list per item does the job.
| Item detail | What it tells the partner |
|---|---|
| Make, model and year | Sets the value and the useful life |
| Condition: new, used, refurbished | Used gear may draw a shorter term |
| Vendor quote with delivery and install | The quote is the amount being financed |
| Seller type: dealer or private party | Private sales need proof of ownership |
| What it replaces or adds | Shows how the item pays its own way |
Soft costs, such as training, rigging and software setup, can sometimes ride on the same request when the vendor lists them on the quote.
Wilson County, TN trades that finance their machines
Contractors, restaurants and chiropractic and therapy practices each have equipment needs: machines and trucks, kitchen lines, and treatment tables or imaging. Auto shops are another; auto shop equipment financing in Lebanon, TN covers lifts, diagnostics and used gear. More trades are on the industries page, and the Lebanon, TN page holds the county figures.
The step order is on how a Hazelford request works.
