Equipment financing for your next big thing.

Quality you can trust. Over 400,000 loans funded.

$
Applying is free and won't impact your credit*
Loan Amount
$5k–$5 million
Time to Fund
As fast as 24 hours
Loan Terms
1–10 years

How equipment financing works.

Equipment financing is a type of asset-based lending that helps business owners get the funding to purchase or lease equipment without depleting their working capital. Here’s how it works.

1. Figure out what you need: First off, let’s get clear on what equipment you need to boost your business. It could be anything, from a new backhoe to office furniture. Once you’ve got that sorted, estimate how much it’ll cost.

2. Apply with us: Now, hop online and fill out our easy application. It’s painless, we promise.

3. Pick your plan: After you apply, we’ll do the heavy lifting and match you with the best financing options. You’ll get to review these and choose the one that fits your needs like a glove.

4. Get your gear: With the funds in hand (often in as little as 24 hours), you can go ahead and buy your equipment. Then, you’ll start repaying the loan on terms that work for you. And once you’re done? The equipment is all yours, no strings attached!

Where to get equipment financing.

There are several places you can turn to when you’re looking for an equipment loan. Each one has its own strengths, so it’s all about finding the right fit for your business.

1. Alternative lenders: These guys aren’t your traditional banks. They’re often more flexible and can move a bit faster, making them a great choice if you need equipment ASAP.

2. Banks and credit unions: These are your more traditional lenders. They might take a bit longer to process your application, but they often offer competitive rates.

3. The U.S. Small Business Administration (SBA): The SBA offers a variety of loan programs that can help small businesses secure equipment financing.

4. Equipment financing companies: There are companies that specialize in equipment financing. They’re experts in this field and can offer guidance along the way.

5. Online platforms: Websites like Lendio offer a marketplace of lenders, giving you the chance to compare different loan options all in one place.

8 best equipment financing companies.

Lendio carefully selects the lenders in its marketplace and then works with you to find the best revenue-based financing for your unique situation. Read on for stats on each lender and what each lender is best at. Learn about our methodology for lender selection here.
Lender/Funder*
Min. Time in Business
Loan/Financing Amount
Min. Credit Score
Time to Funds
Balboa
7 months
Up to $500,000
640
As soon as same day
ClickLease
Any
$20,000
520
As soon as same day
4 Hour Funding (Centra)
2 years
Up to $150,000
590
Same day
Commercial Funding Partners
3 years
$500,000+
665
As soon as 1 day
Global Financial
Any
Up to $1 million
500
As soon as 48 hours
Paradigm
2 years
Up to $5 million
600
As soon as 1 day
South End Capital
Any
Up to $5 million
700
As soon as same day
Time Payment
Any
Up to $1.5 million
550
As soon as 1 day

Balboa Capital – Equipment financing

Funding amount
Up to $500,000
Term
4. 36, 48 or 60 months
Min Credit Score
640
Time to funding
As soon as 1 day

Clicklease – Equipment financing

Funding amount
Up to $20,000
Term
24-60 months
Min Credit Score
520
Time to funding
As soon as same day

4 Hour Funding (Centra) – Equipment financing

Funding amount
Up to $150,000
Term
24-60 months
Min Credit Score
590
Time to funding
As soon as same day

Commercial Funding Partners – Equipment financing

Funding amount
$150,000 - $500,000+
Term
Varies
Min Credit Score
665
Time to funding
As fast as 1 day

Global Financial – Equipment financing

Funding amount
Up to $1 million
Term
1-5 years
Min Credit Score
500
Time to funding
As soon as 1 day

Paradigm – Equipment financing

Funding amount
Up to $5 million
Term
24-48 months
Min Credit Score
600
Time to funding
As soon as 1 day

South End Capital – Equipment financing

Funding amount
Up to $5 million
Term
Up to 10 years
Min Credit Score
700
Time to funding
Same-day funding

Time Payment – Equipment financing

Funding amount
Up to $1.5 million
Term
12-60 Months
Min Credit Score
550
Time to funding
As soon as 1 day

Minimum requirements for equipment financing.

Credit score
520 or higher
monthly revenue
$50,000+
time in business
0–12 months minimum
Quickly estimate your funding options.
Time In Business
0 - 6 Months
6 - 12 Months
1 - 3 Years
3+ Years
Monthly revenue
Industry
Credit Score
Business type
Legal partnership
LLC
Corporation
Sole proprietor
Congrats--it looks like you qualify.*

Based on your business information you could qualify for up to $ 52,000 in funding

Funding amount *

$ 36,000 - $ 52,000

*Amount is an estimate only using the information provided Businesses like yours typically receive offers like these.
Compare your funding options today.
Apply now

Many businesses don't qualify for funding for all kinds of reasons. A few factors could include:

Not enough revenue
Not enough time in business
Credit score is too low

*Qualification criteria, rates, and other funding terms will vary depending on the type and location of your business, and upon other factors. This is not a guarantee of funding, and it should not be relied upon as an accurate assessment of the availability or terms of the represented funding products.

How much can I qualify for?

Not sure what you need or what funding options are best for you? Use our simple calculator to get a rough idea of your options with no commitment, and apply when you’re ready.

How to apply for equipment financing.

Tell us about your business.

Answer a few simple questions and complete the application in minutes.

Submit your application.

We’ll present your application to our marketplace 75+ lenders. Applying is free and won’t impact your credit score.

Compare offers.

Find the funding option with the terms that best fit your small business goals.

Get funded.

Once you accept, funding can hit your bank account in as little as 24 hours.

12+ years of serving small businesses.

Get the answers and the funding you need with support all along the way.

$16+ billion

in small business funding facilitated in the last decade.

4.8 stars

21,000 Trustpilot® reviews.
50% repeat customers.

400,000+

total small business loans funded in the last decade.

FAQs

Find answers to some commonly asked questions about equipment financing.

What is equipment financing?

Equipment financing is a financial solution that helps your business acquire the machinery, vehicles, or other equipment it needs to operate. Instead of paying the full cost upfront, you’re spreading the cost over time, making it easier on your budget.

What kind of equipment can I finance?

Getting an equipment lease or financing can help you fund a variety of business needs. This financing solution can be used for things like:

Regardless of your company’s industry, exploring your equipment finance options could help the success of your business. Plus, equipment lenders usually report to business credit. The more business credit you build the greater opportunity you have in the future to receive the best rates and terms for the money you receive and increase your business’s ability to receive future loans without a personal guarantee.

What is the difference between equipment financing and equipment leasing?

The largest difference between an equipment lease and an equipment loan is that an equipment lease has a fixed term, in which you pay a monthly rental fee, with no prepay benefits, and an equipment loan can be paid off at any time with any remaining interest wiped clean.

There are multiple structures available for equipment leasing including:

  • Equipment Financing Agreement: Fixed payments are made over a set term after which you own the equipment in full.
  • Fair Market Value: Fixed payments are made over a set term after which you can return the equipment, renew the lease, or purchase the equipment at fair market value.
  • Purchase Upon Termination: Require the customer to purchase the equipment at the end of the lease term at a certain percentage of the original purchase price.

Equipment financing is a type of funding that gives you full ownership of the equipment. You’ll pay interest in addition to the principal balance, usually as a fixed monthly payment. But once your financing term is over, you own the equipment free and clear. Choosing the best equipment financing option depends on the type of equipment you need, how long you expect to need it, and how frequently you plan to update those assets. You can also use an equipment loan calculator to help you compare costs.

What are the pros and cons of equipment loans?

One of the biggest advantages of equipment financing is that it helps you grow your business with new equipment while spreading out the costs over time. Additionally, you often don’t need any collateral besides the asset itself. By integrating new equipment into your business, you could increase revenue and reach with your services.

A drawback is that funds can only be used for equipment and sometimes soft costs associated with the purchase, such as taxes or delivery fees. Other types of financing, such as a small business loan or business line of credit, have minimal restrictions on how you use the funding proceeds.

Pros of equipment financing

  • Scale your business
  • Spread out large capital costs
  • No additional collateral needed
  • Equipment purchases may be eligible for a tax deduction

Cons of equipment financing

  • Use restricted to equipment
  • Equipment becomes outdated and needs to be replaced
How much does equipment financing cost?

Qualifying for equipment financing can actually be easier than other business financing options because the lender uses the equipment as collateral.

Why is equipment financing important?

Equipment financing helps you scale your business without covering the full cost through your own cash reserves. Plus, the eligibility requirements are easier to qualify for since there’s physical collateral attached to the funding.

How long is an equipment loan?

It depends on your lender and funding/financing terms. However, most equipment finance terms range between one to 10 years in length.

What are the requirements for an equipment loan?

To get equipment financing, you’ll typically need to meet the following requirements:

  • $50,000 or more in annual revenue
  • Credit score of 520 or higher
  • Varying time in business requirements: Some equipment financing companies will work with startups from day one. Others will want to see a minimum time in business of two years.

And don’t worry if you don’t meet all of these requirements. Exact qualifications vary by lender and equipment type.

Are there equipment loans for startups?

Yes, some equipment financing companies we partner with will work with startups from day one in business. Bear in mind that the financing company may place more stringent requirements on your personal credit score or only offer lower financing amounts if you have been in business less than one year.

Ready for funding?

See what you can qualify for on the Lendio Marketplace.