Equipment buyer
Equipment-financing glossary
Use this glossary to orient yourself, then use your secure experience and signed agreement for the meaning that applies to your transaction.
Common terms
- Applicant: the business or authorized person submitting information for review.
- EFA: an equipment finance agreement connected to commercial equipment.
- Guarantor: a person or entity providing an applicable guaranty under the actual documents.
- Requirement: an item or action that remains before the transaction can continue.
- Funding: the applicable completed vendor-payment or transaction state after final requirements.
- Servicing: account support after a transaction becomes active.
Use the secure experience for your actual information
This article provides general guidance. Your actual application, option, agreement, requirements, payment obligations, and account status may differ. Signed documents and secure account information control.
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