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A machinery loan is a credit facility that helps you borrow funds to buy, lease, repair or upgrade machinery.

It is a type of business loan that enables you to improve your productivity and efficiency without compromising your working capital.

Equipment finance describes a loan or lease that is used to obtain business equipment, which can be any tangible asset other than real estate.
Equipment financing may be through obtaining a loan to purchase equipment or by leasing equipment.
Whether buying or leasing is a better option usually depends on the nature of the equipment being financed and the borrower’s ability to obtain a loan at favourable terms.