Expand Your Business Operations

Equipment Financing

No matter what industry, you need the right commercial equipment to get the job done. It can be challenging for the business owner if your business is new or needs to make major investments in essential business equipment and you are not sure how or where to get the funding you need. Compared to traditional bank options, you will love our light application and fast processing (and soft credit pull).

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Best Equipment Financing for the Small Business Owner

Basic Qualifications

TIME IN BUSINESS

6+ months

BUSINESS OPERATIONS

Entity w/5+ tradelines

OWNER'S CREDIT SCORE

>600 FICO

Funding Parameters

Amounts

$1k to $20m

Type

FMV, EFA, $1 b/o, 10% b/o

Rates

from 5.49%

Processing Speed

1-3 days

Typical Application Requirements

  • Basic credit application

  • 4 months of business bank statements

  • Invoice/bill of sale/quote

  • Government issued photo ID

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Equipment Leasing Versus Equipment Financing Strategies

Deciding whether to lease or finance the equipment you need can be a big decision with an impact to your cash flow. You may no longer wish to rent equipment at high expense forever. Perhaps the most significant advantage of equipment financing is that you will own the asset. Thus, if you expect to continue using it for some time after the loan is repaid, there may be better value in a finance scenario compared to a lease option.

Benefits of financing your equipment loan online are:

  • Quick approval and funding in as little as 2-3 business days (often 2-3 hours)

  • No financial statements are needed on smaller applications

  • Little or no down payment is required (i.e. 100% financing, no funds needed from the buyer)

  • Low interest rates are available on loans with up to 84-month terms

  • Various payment structures (e.g. seasonal, delayed, trade-in cycle) to match your equipment usage patterns

Alternatively, equipment leasing may be better for your company. For example, it is is a good option for equipment that is likely to require an upgrade, or that you are not certain you will keep long-term.

These are some of the benefits of equipment leasing:

  • Fixed and low monthly payments

  • Your cash and credit lines will remain available for other needs

  • There are major tax and accounting advantages

  • You will avoid the risk of owning obsolete equipment

Best Small Business Equipment Financing for a Wide Variety of Industries and Cost Levels

  • Access to Multiple Lenders - Say goodbye to the hassle of searching for the right lender for your business equipment loan. Our service connects you to a network of reputable lenders for the best financing options.

  • Fast Approvals and Funding - No more waiting weeks for funding while your business credit is slowly assessed. With our service, you can get fast approvals and funding, so you can secure financing to keep your business running without any delays.

  • Soft Credit Pulls - Protect your credit score while still getting the funding you need. Our service only requires a soft credit pull, so your credit score won't be negatively impacted.

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The most common industries to financing equipment are:

  • Agriculture

  • Manufacturing

  • Machining Tools

  • Construction / Yellow Iron (Heavy Equipment)

  • Warehouse/Distribution

  • Healthcare / Medical Equipment

  • Printing

  • Restaurant/Kitchen

  • Software/IT/Technology

  • Transportation (Trucking/Aviation/Rail)

  • Mining/Oil & Gas

  • Marine

  • Forestry

  • Security Systems & Monitoring

  • HVAC

  • Auto Repair/Diagnostic

  • Fitness/Beauty/Spa

  • Cosmetics​

How to Get Equipment Financing for a Small Business?

Loan amounts for literally all equipment sizes and costs are available: as little as $1000 and as much as $20 million with terms of 2 years to 7 years (matching the typical useful life of the asset). Loan structures can vary with finance/capital leases or term loans as well as other types (e.g. CAPEX line of credit, sale & leaseback, TRAC lease).

If you are looking to secure financing to purchase essential equipment, apply today for credit approval to get the new equipment needed to grow your business.

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