Equipment Financing

Equipment Financing

Keep the Gears Turning

With equipment financing, the lender will typically front the cash to help purchase the equipment outright. You then pay back the total amount borrowed, plus fees, over a set period of time.

Loan advance maximum Amount

Loans Amount

Up to 100% of equipment value

Interest Rate

Interest Rate

7 to 30%

Repayment Frequency

Term Length

1 to 5 years

Processing Time to Fund

Time to Funding

As fast as 1 day

Pros

  • Minimal paperwork
  • Set payment structure
  • Challenged Credit is accepted
  • Suitable for a wide range of business purposes

Cons

  • Annual costs higher than longer-term options
  • Shorter term could be more difficult to manage for certain businesses

Compare to other loan types

Loan types Max amount Interest rate Speed
Equipment Financing Up to 100% of equipment value 7% – 30% As fast as 2 days
SBA Loan $5K – $5M Starting at 7.75% As fast as 2 weeks
Business Term Loan $25K to $500K 7 – 30% As fast as 2 days
Business Line of Credit $5K to over $1M 7% – 25% As fast as 1 day
Invoice Financing Up to 100% of invoice value Roughly. 3% + % per week outstanding As little as 1 day
Short-Term Business Loan $2.5K – $250K Starting at 10% As fast as 1 day
Merchant Cash Advance $5K to $500,000 As low as 1.15 As fast as 1 day
Equipment Financing

No job is too big to handle – when you’re fully equipped!

Whether you need vehicles, machinery, payment processing hardware, computer software, kitchen appliances, or HVAC units, it’s probably financeable.

If you’ve been in business for a year, generate more than $50,000 in annual revenue, and have either decent credit or strong cash flow, then you’re likely to get approved.

So if you need to take on that big project or are simply looking to invest in high-value equipment without necessarily risking your liquid cash or personal assets, then equipment financing can be a great solution!

Better yet, the equipment can act as collateral, making more lenders willing to work with you even if your finances aren’t in perfect order.

Minimum Qualifications

annual revenue

Annual Revenue

$50,000+

credit score

Credit Score

500+

time in business

Time in Business

6 months+

Documents Needed to Qualify

  • Quote, Invoice, or Make/Model of Desired Equipment
  • Business Bank Statements

Ready to See your Options?

It’s free to apply and it won’t impact your credit