Everything business owners need to know about financing equipment — trucks, machinery, technology, and more. Rates, terms, approval requirements explained.
Our editorial team consists of experienced business finance writers and lending professionals with 15+ years in commercial lending.
Equipment financing is a loan or lease specifically for purchasing business equipment, where the equipment itself serves as collateral. Because the asset secures the loan, approval requirements are significantly easier than unsecured business loans — lower credit score thresholds, faster approvals, and larger amounts.
Virtually any physical business asset qualifies: trucks and trailers, CNC machines, restaurant equipment, medical devices, construction equipment, computers and servers, solar panels, HVAC systems, and more.
Equipment Loan: You own the equipment from day one. Monthly payments include principal + interest. At payoff, it's yours free and clear. Best for equipment with long useful life (trucks, machines).
Equipment Lease: You use the equipment without owning it, like renting. Lower monthly payments. At lease end: return it, renew, or buy it (fair market value or $1 buyout, depending on lease type). Best for technology that becomes obsolete quickly.
**Which is better?** If the equipment holds value and you want to own it, finance it. If it depreciates fast or you want to upgrade frequently, lease it.
Get funding in 24 hours
No impact to your credit score.
Equipment financing is one of the most accessible forms of business credit:
Credit Score: Most programs start at 580–620. Higher scores (680+) get lower rates. Some programs offer "low credit" equipment loans at 550+.
Time in Business: 6–12 months minimum for most programs; some specialty lenders approve startups with strong personal credit.
Revenue: $5K–$10K/month minimum for most lenders. The payment should not exceed 15–20% of monthly revenue.
Down Payment: 0–20% depending on credit profile and equipment age. New equipment from dealers often qualifies for 0% down.
Step 1: Apply online in 5 minutes — describe the equipment, its cost, and your business.
Step 2: Our AI matches you with lenders from our network of 150+ who specialize in your equipment type and credit profile.
Step 3: Receive multiple competing offers (rates, terms, monthly payments) within 2–24 hours.
Step 4: Accept the best offer. The lender pays the dealer or seller directly.
Step 5: Equipment is yours. Start using it immediately. Monthly payment begins 30 days later.
FAQs
Funding Products
Compare working capital, SBA loans, equipment financing, invoice factoring and more.
$10K–$500K
Access $10K–$500K in working capital within 24–48 hours. No collateral required, flexible repayment based on your daily revenue.
✓ Cover payroll, inventory, and operating costs without slowing down.
Speed
24 hours
Term
3–18 months
$25K–$2M
Structured term loans from $25K to $2M for established businesses. Fixed monthly payments with transparent rates.
✓ Predictable payments, no surprises — perfect for planned growth.
Speed
2–5 days
Term
12–60 months
$5K–$500K
Get an advance on your future sales. Repay as a percentage of daily revenue — no fixed payments, no pressure.
✓ Flexible repayment that moves with your cash flow.
Speed
24 hours
Term
4–18 months
$10K–$5M
Finance any equipment — trucks, machinery, technology — from $10K to $5M. The equipment itself serves as collateral.
✓ Preserve working capital while acquiring assets that generate revenue.
Speed
2–5 days
Term
24–84 months
$50K–$5M
SBA 7(a) and 504 loans with government-backed guarantees. Rates from 6.5% — the best terms available for qualifying businesses.
✓ Lowest interest rates with the longest repayment terms on the market.
Speed
30–90 days
Term
10–25 years
$10K–$5M
Convert outstanding B2B invoices into immediate cash at 80–95% of face value. No debt, no collateral.
✓ Eliminate the 30–90 day wait on customer payments.
Speed
24–48 hours
Term
Per invoice
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Get competing offers from 150+ equipment lenders. Terms from 24–84 months. Apply in 5 minutes.