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Equipment financing
Finance new or used equipment and spread the cost over its working life. Because the equipment secures the financing, approval depends less on your credit history.
At a glance
Amount
$10K–$5M
Term
1–7 years
Funding speed
As soon as 2 business days
Payments
Fixed, monthly
How equipment financing works
Send us the quote or invoice from your vendor. Once you’re approved, we pay the vendor directly or reimburse you, and you start using the equipment right away.
With a financing agreement, you own the equipment once it’s paid off. With a lease, you can buy it, renew the lease or return it at the end of the term.
Good for
- Commercial kitchen equipment
- Trucks, trailers and work vans
- Medical and dental equipment
- Machinery, tools and POS systems
Is it right for you?
A good fit if
- You’re buying a specific piece of equipment
- You want to keep cash in the business
- The equipment will help you earn more
Consider another option if
- You need cash for many different expenses: business line of credit
- You need a large amount over a long term: SBA loans
What you’ll need to apply
Have these ready and the application takes about 10 minutes.
- Business bank statements from the last 3 months
- A government-issued photo ID
- Your business tax ID (EIN)
- Basic details: time in business, monthly revenue and industry
- A quote or invoice for the equipment
Typical minimums
Time in business
6 months or more
Monthly revenue
$10,000 or more
Credit score
500 or higher
Requirements vary by product. An advisor can tell you what you qualify for.
Questions about equipment financing
Don’t see your question? Call (866) 451-9260.
Can I finance used equipment?
Yes, in most cases. Used equipment from a dealer or a private seller can often be financed, depending on its age and condition.
Do I need a down payment?
Some offers need no down payment. Others ask for a small one, depending on the equipment and your business profile.
Is equipment financing tax deductible?
Many businesses can deduct equipment costs under Section 179 of the tax code. Ask your accountant how it applies to you.
Other ways to fund your business
Business term loans
One lump sum, repaid in fixed payments over a set term.
Amount
$25K–$5M
Term
1–5 years
Funding
As soon as 2 business days
Business line of credit
Draw funds when you need them and pay only on what you use.
Amount
$10K–$500K
Term
Revolving
Funding
As soon as 24 hours
SBA loans
Long terms and low rates, backed by the U.S. Small Business Administration.
Amount
Up to $5M
Term
Up to 25 years
Funding
Usually 30–90 days
Revenue-based financing
An advance on future sales, repaid as a share of revenue.
Amount
$5K–$2M
Term
3–18 months
Funding
As soon as 24 hours
Talk to a funding advisor
Get answers about your options with no obligation. We’ll explain every offer in plain language.