What is Equipment Financing?

Equipment Financing

Equipment financing allows business owners to finance the full amount for a lease or purchase of new or used equipment. This is an effective tool where business owners can maintain cash flow without making a huge capital investment upfront.

Funding Amount

Up to $250k

Term

1-5 years

Cost

As low as 8%

Repayment Method

Monthly Repayment

Get the most from your small business

Typically to obtain equipment financing, a business needs to be operating for 1 year with good business and personal credit. There are several different programs depending on if it’s a small or large piece of equipment. Our experts will help you navigate this complicated process to ensure the right option is approved and presented to you. We do all the heavy lifting so the decision is an easy one for you.

You can finance just about any kind of business equipment.

Many small business owners hear about equipment financing and think of tractors and backhoes. Yes, construction equipment is totally financeable – but so is a bunch of other stuff. In fact, there’s an equipment financing option to cover tools and resources for just about every small business industry. Big or small, basic or complicated, doohickey or doodad – whatever you need, we’ll help you cover the costs.

It’s pretty easy to qualify and apply for equipment financing.

To get equipment financing, you’ll typically need to be in business at least 12 months, have $50,000 or more in annual revenue, and have a credit score of 650 or higher. If your credit score is lower than 650 but you can show proof of solid cash flow and revenues for the past 3-6 months, you can still qualify. And don’t worry if you don’t meet all of these requirements – exact qualifications will vary by lender and equipment type. The best way to figure out what you qualify for is to fill out our free 15-minute application or get in touch with one of our personal funding managers.

Your costs can vary as much as your equipment can.

Your equipment loan payments are determined by four things: your loan amount, interest rate, term, and collateral. These factors can vary widely across industries and equipment types. That’s why we work with a variety of lenders who specialize in industry-specific loans – so we can help you find the best deal. If math isn’t your thing, you can use our equipment financing calculator to figure out what kind of monthly payments you can afford.