Equipment Financing

Equipment Financing

Funding for business equipment purchases, upgrades, machinery, vehicles, tools, technology, and essential operating assets.

Program Rates & Terms

• Loan Size: $10,000 to $2,000,000
• Estimated Rate: 5% to 15%
• Term: 2 to 7 years
• Down Payment: 0% to 20% depending on qualification
• Collateral: The equipment itself typically serves as collateral

Qualification Guidelines

• Credit: 620+ preferred
• Time in Business: 1+ year preferred
• Revenue: Business revenue is typically required
• Startups: May be possible with strong credit and sufficient down payment

Required Documents

• Equipment quote or invoice
• Recent business bank statements
• Completed application
• Business information
• Owner information

Best Fit For

• Business equipment purchases
• Heavy machinery
• Construction equipment
• Trucking and transportation equipment
• Medical or dental equipment
• Restaurant equipment
• Technology and office equipment
• Startup equipment needs with strong credit

Key Insight

Equipment financing may allow businesses to acquire essential equipment without using large amounts of cash upfront. Since the equipment itself can serve as collateral, this program can be a strong option for qualified businesses that need assets to generate revenue.