QUICKFI VS. TRADITIONAL EQUIPMENT FINANCING
Advanced equipment financing to help your business grow.
Advanced equipment financing to help your business grow.
QuickFi allows you to initiate and complete equipment financing in minutes, when you want and where you want, all from the convenience of your mobile device.
Our platform puts you in complete control of the entire process, with no back and forth emails, or phone calls with finance salespeople and no black box of communication. You initiate financing on your time with a transparent, stated, fixed rate throughout the life of your loan through our secure system.
QuickFi vs. Traditional Equipment Finance
| Features | QuickFi | Traditional Equipment Finance |
|---|---|---|
| Application Method | 100% digital, mobile, borrower self-service app | Paper forms, in-person meetings, phone calls, or web portals |
| Time to Complete | Less than 3 minutes for approval and funding | Hours to days (application, underwriting, approval, funding) |
| Availability | 24/7/365, instant access | Limited to business hours, delays due to manual processing |
| Documentation Required | Minimal: basic business and personal info, driver's license, mobile authentication | Extensive: financial statements, tax returns, credit history, equipment details |
| Credit Decision | Real-time, automated, instant decision | Manual underwriting, days to weeks for decision |
| Fees | No application, documentation, or hidden fees | Common: origination, documentation, UCC filing, prepayment fees |
| Interest Rate Structure | Fixed rates, fully disclosed in app | Fixed or variable, may not be fully transparent |
| Security & Technology | Biometric authentication, Geolocation, Device ID, AI/ML, Cloud/Mobile Security & Encryption | Traditional security, less advanced digital features |
| Transparency | All terms disclosed upfront, no surprises | Terms may be less clear, potential for hidden costs |
| Customer Support | 24/7 live chat and support via app | Standard business hours, phone/email support |
| Integration | Can be embedded into manufacturer's sales and web platforms | Usually separate from sales process, requires manual coordination with loan salespeople |
| Funding Speed | Same or next business day to vendor after transaction | Several days to weeks after approval and documentation |
| Repeat Business | Easy repeat financing, in-app marketing for specials | New application process for each transaction |
Download the app today
No fees. No obligations, just transparent service.
