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Equipment financing
Get the equipment now. Pay as it earns.
Finance new or used equipment, with the equipment itself typically securing the deal.
- How much
- Up to the cost of the equipment
- How fast
- Often within a week*
- Repay over
- Typically 1 to 5 years
How it works
The short version.
Equipment financing covers the purchase of a specific asset, like a truck, an oven, a machine or medical gear. Because the equipment secures the financing, approvals can be easier and payments lower than unsecured options.
You'll usually need a quote or invoice from the seller.
A good fit for
- Trucks, trailers and vehicles
- Kitchen, shop and production equipment
- Medical and dental equipment
- Replacing aging gear before it fails
Compare
Equipment financing vs. working capital
| Equipment financing | Working capital | |
|---|---|---|
| Use of funds | A specific asset | Anything the business needs |
| Secured by | The equipment | Usually not specific collateral |
| Typical term | Matches the asset's useful life | Shorter |
| Paperwork | Quote or invoice needed | Bank statements |
Getting started
What it usually takes.
Typical starting points. Stronger files usually unlock more.
Time in business
1+ year preferred
Documents
Equipment quote or invoice
Credit
Fair or better helps
Questions
About equipment financing
Can I finance used equipment?
Often, yes. Terms can depend on the equipment's age and condition.
Is there a down payment?
Some programs need one and some don't. It depends on your credit, history and the equipment.
Can I buy from a private seller?
Some funders allow it with extra paperwork. Tell us about the deal and we'll check.