Fieldstone Lending, a small-business funding broker in Gillette, Wyoming, arranges equipment financing through lending partners for Campbell County contractors, restaurants, clinics and shops. Loans, leases and equipment finance agreements spread the cost of a machine over its working life, with the equipment usually securing the deal. Partners rule on each machine and set its terms.
| Secured by | Normally the machine being bought |
|---|---|
| Forms | Loan, lease, or an EFA |
| County construction employers | 188 establishments (CBP 2023) |
| Specialty trade contractors | 116 specialty trade firms among them (NAICS 238) |
| Used equipment | Considered by many partners, with age and condition checks |
| Decision | The lending partner's |
Owning, renting or an EFA: three routes to a Gillette, WY machine
| Form | Owner until the last payment | At the end | Often suits |
|---|---|---|---|
| Equipment loan | Your business, with a lien on file for the partner | Lien released when paid | Machines kept for many years |
| Lease | The lessor | Return it, renew, or buy it out, per the lease | Equipment that ages or upgrades often |
| Equipment finance agreement | You, with a security interest for the partner | Ownership free and clear when paid | Owners wanting ownership without a classic loan |
A machine loan or a general business loan?
An equipment loan is secured by the machine it buys, and its term usually follows the machine's working life. A general business term loan is not tied to one asset, and the partner may want broader collateral or a guarantee instead. If the purchase is a single identifiable machine, equipment financing is usually the more natural fit.
Leasing a machine versus borrowing for it
With a loan you own the equipment from day one and carry it on your books. With a lease the lessor owns it, and your options at the end depend on the lease type. Some leases are structured so the business is expected to keep the equipment; others plan for its return. How each form is treated for tax and accounting purposes is a question for your accountant, not for us.
Used equipment
Many partners finance used machines, but they look harder at age, hours, condition and the seller. Expect an inspection or appraisal request for larger items, and a shorter term than for new equipment. The post on financing used equipment in Gillette, WY covers what partners look at.
Campbell County, WY equipment users in Census figures
Construction had 188 employer establishments in Campbell County in 2023, more than any other sector, including 116 specialty trade contractors and 42 builders of buildings (U.S. Census Bureau, County Business Patterns 2023). Food services and drinking places numbered 98, and ambulatory health care 94, including 15 offices of dentists. Each of those trades runs on equipment. Sector detail is on the sector pages, and county context on the Gillette, WY page.
Restaurants, clinics and shops
Contractors are not the only equipment buyers. Campbell County had 98 food services and drinking places with employees in 2023, and 94 ambulatory health care establishments, including 25 offices of physicians and 15 offices of dentists (U.S. Census Bureau, County Business Patterns). Ranges, commercial coolers, dental chairs, imaging units and practice software all come up, and medical device financing works the same way as other equipment: the asset, its age, the seller's quote and the business's records.
Contractor vehicles and work trailers
Pickups with service bodies, dump trailers and equipment trailers used for a contracting business can usually be financed like other equipment. Fieldstone Lending does not arrange funding for trucking or freight-hauling businesses, and does not arrange agriculture funding.
Soft costs and what the quote should show
Delivery, installation, training and software setup are often called soft costs. Some partners include them in the amount financed; others finance only the hardware. Ask the seller to itemize the quote so you can see which is which, and make sure it is addressed to the business's legal name, not a trade name or the owner personally.
- Year, make, model and serial number for each item.
- Price of hardware and of each soft cost, separately.
- Delivery date and any deposit the seller requires.
- Warranty or service terms, if the seller provides them.
Estimate the payment first
Before talking to anyone, try the equipment loan repayment calculator: enter the price, your down payment, a rate and a term to see the monthly payment and the total cost, including what you put down. Then see how a request moves once you have a quote in hand.
By Fieldstone Lending · Updated
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