If you intend to use loan proceeds to purchase equipment, the lender will buy the equipment directly on your behalf. Therefore, you must provide a vendor quote that includes equipment details, cost, and payment instructions. The lender will then use this quote to wire the funds directly to the vendor at closing. Any remaining funds that are not used for the equipment purchase will be disbursed to you.
This document should include:
Description of equipment, model, and price
Vendor’s bank details for payment