The loan described here sucks but seems similar to buying everything on a credit card and as a new tradesperson 19% is probably as good a loan as you’ll get without a credit history.
These tool loans certainly aren't going out to people that have already rolled the bus on a Capital One $300 credit line credit card.
Certainly a good idea to shop around but it’s hard to get a $5000 loan with no credit and no collateral.
What I found odd is that I rarely see these tools for sale used. I expect they’d be valuable, but I guess they just get bought up before hitting eBay or Craigslist.