Huntington Equipment Finance - Managing Finances

Huntington Equipment Finance (HEF) is a division of Huntington National Bank, specializing in providing a broad range of equipment financing and leasing solutions to businesses across diverse industries. Unlike a traditional bank loan, HEF focuses specifically on financing the acquisition of tangible assets, helping companies obtain the equipment they need without significantly impacting their cash flow.

HEF distinguishes itself through its industry expertise and tailored approach. Instead of a one-size-fits-all product, they work closely with clients to understand their specific business needs, equipment requirements, and financial situations. This allows them to structure customized financing solutions that align with the company’s objectives and growth strategy. They consider factors like equipment usage, depreciation, and potential residual value to optimize financing terms.

The types of equipment financed by HEF are extensive, spanning industries from manufacturing and construction to healthcare and transportation. Common examples include machinery, vehicles, medical equipment, IT infrastructure, and specialized tooling. They offer various financing options, including:

Equipment Leases: Allowing businesses to use equipment for a specific period without owning it. This can be beneficial for conserving capital and avoiding obsolescence risks. Lease options might include Fair Market Value (FMV) leases, which provide the flexibility to purchase the equipment at the end of the term, or $1 Buyout leases, which transfer ownership for a nominal fee.
Equipment Finance Agreements (EFAs): Similar to a loan, EFAs provide ownership of the equipment while it’s being paid off. This allows companies to depreciate the equipment for tax purposes.
Working Capital Loans: Though not strictly equipment financing, HEF can provide working capital loans to support related operational costs and ensure smooth equipment integration.

One of the key advantages of working with HEF is their deep understanding of the equipment market. They have specialists with experience in various industries who can provide valuable insights into equipment selection, market trends, and residual value projections. This expertise helps clients make informed decisions about their equipment investments and negotiate favorable financing terms.

Huntington Equipment Finance is committed to building long-term relationships with its clients. They strive to be a trusted partner throughout the equipment lifecycle, offering support and guidance as business needs evolve. By providing flexible and customized financing solutions, HEF empowers businesses to invest in the equipment they need to grow and succeed in today’s competitive market.

In essence, HEF provides a vital service by enabling businesses to acquire essential equipment, fostering growth and innovation across numerous sectors of the economy. Their industry knowledge, tailored solutions, and commitment to client relationships make them a prominent player in the equipment finance landscape.