Financing Q&A

We aren’t able to process credit card transactions for monthly payments; however, we can set you up on a monthly debit to your checking account to automate the payment process.

Only if you are financing equipment that you have already purchased.

Yes. You can request an automatic withdrawal agreement and we will set it up for you.

No, we do not. Since this is a loan (not a lease), we would never include these kind of terms which can be considered unfair or unreasonable for customers. 

The vast majority of our customers receive initial approval for open lines of credit within a few minutes of submitting their application. Final approval is contingent upon reviewing the information submitted and verifying accuracy and authenticity. Once verified the credit line is formally established.

As often as you need additional equipment.

A OnePlace Capital Relationship Manager will call you to confirm that the equipment has been delivered and is working properly. Once this is determined, we will issue a check to the equipment supplier.

The finance agreement is non-cancellable. However, you may arrange for prepayment or refinancing of the finance agreement at any time. 

It's an option to purchase financed property at the end of the term at its current fair market value. This only applies to a finance agreement that is structured as a Fair Market Value (FMV) agreement. It also allows you to “expense” the entire monthly payment (verses depreciating the asset over its tax life and expensing the interest expense). The agreement must include a fair market value purchase option at the end. This value can only be determined at the end of the term using the then current “fair value” for an unbiased purchaser of the equipment. OnePlace Capital does not offer these types of true leases.

Since this is actually a loan (not a lease), you have ownership of the equipment during financing term. You also have title to it.  We will file a UCC-1 to establish a security interest during the loan term, and at the end of the loan term, we'll file a UCC-3 to remove it so you own the equipment free and clear.

No problem. Taking delivery of equipment doesn’t, in itself, constitute taking ownership. Actually paying for the equipment is considered ownership. And, depending upon the time that has passed since you paid for the equipment, you may still be able to finance it.

Fill out a simple one-page credit application and generally less than 30 minutes you'll receive a credit response. Upon credit approval, documents will be expedited to you. When we receive signed documents, a purchase order is issued to the equipment vendor and your order is delivered. Once we confirm your equipment is received and installed, we’ll activate your financing.

After you're approved, we need to gather specific information regarding the equipment you're financing, as well as the vendor(s) supplying it. You will be provided with easy-to-follow online instructions on how to complete your financing agreement.

OnePlace Capital pays the equipment supplier.

It’s quite common. 8 out of 10 U.S. businesses use financing to acquire needed capital equipment.

Equipment financing has many benefits and is an attractive alternative to traditional borrowing.

Take advantage of fixed payments and 100% financing of the equipment cost. Pay for equipment as it’s used to generate income. In addition, financing helps you to conserve working capital and bank lines of credit.

Financing is a valuable cash management option. You don’t pay salaries in one lump sum, why pay for equipment that way? Is it more important to own the equipment or use the latest equipment available on the market?

Yes. You determine what equipment best serves your needs. We simply request information about the vendor that will enable us to complete all transactions.