Equipment Financing & Leasing
Finance or lease the equipment your business needs to operate and grow. From trucks and construction equipment to medical devices and manufacturing machinery—get the tools without depleting working capital.
Equipment Financing vs. Leasing
Equipment Financing (Loan)
You borrow money to purchase equipment and own it from day one. Make fixed payments until the loan is paid off.
- • Own the equipment immediately
- • Build equity as you pay
- • Eligible for Section 179 tax deduction
- • Resell or trade-in when paid off
- • Responsible for maintenance
- • Stuck with asset if obsolete
Equipment Leasing
You rent equipment with an option to purchase, return, or upgrade at lease end. Lower monthly payments.
- • Lower monthly payments
- • Easier to upgrade to new models
- • May include maintenance packages
- • 100% tax deductible payments
- • Don't own until buyout (if chosen)
- • Total cost often higher long-term
Key Features
Loan Amounts
$25,000 to $2M+ depending on equipment type and business strength.
Terms
12 to 84 months, aligned with useful life of equipment.
Interest Rates
APR typically ranges from 6% to 30% based on credit and equipment type.
Down Payment
0-20% depending on credit profile and equipment condition.
Approval Speed
24-72 hours for approval, funding within 3-7 days.
Equipment Condition
New and used equipment eligible. Used typically 2-5 years old max.
Equipment We Finance
Transportation
- • Commercial trucks & trailers
- • Vans & fleet vehicles
- • Buses & shuttles
- • Specialized transport
Construction
- • Excavators & bulldozers
- • Cranes & forklifts
- • Backhoes & loaders
- • Paving & concrete equipment
Manufacturing
- • CNC machines & lathes
- • Assembly line equipment
- • Industrial ovens
- • Quality control systems
Medical
- • Imaging equipment (MRI, CT, X-ray)
- • Dental chairs & tools
- • Lab equipment
- • Surgical instruments
Restaurant
- • Commercial ovens & ranges
- • Refrigeration units
- • POS systems
- • Food prep equipment
Technology
- • Servers & data centers
- • Software & hardware
- • Telecom equipment
- • Security systems
Best Use Cases
- Expanding capacity: Add equipment to take on more work without cash outlay
- Replacing aging assets: Upgrade to newer, more efficient equipment
- Seasonal businesses: Acquire equipment before busy season, pay from revenue
- Startups & new ventures: Get operational without depleting startup capital
- Tax advantages: Leverage Section 179 or bonus depreciation
Qualification Requirements
Minimum Criteria
- At least 2 years in business (1 year for strong credit)
- Personal credit score of 650+ (higher for better rates)
- Positive cash flow or breakeven operations
- No recent bankruptcies
- Equipment must be for business use
Documentation Needed
- Equipment quote or invoice from vendor
- 2-3 months of business bank statements
- Driver's license or ID
- Voided business check
- Business formation documents
Section 179 Tax Deduction
Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment purchased or financed during the tax year, up to $1.16M (2023 limit).
Example Scenario:
A contractor finances $150,000 in excavation equipment. Under Section 179, they can deduct the full $150,000 in year one, potentially saving $30,000-$50,000 in taxes (depending on tax bracket).
This significantly reduces the net cost of acquiring equipment. Consult your CPA to maximize these benefits.
Ready to Apply?
Get pre-qualified in minutes. No hard credit pull to see your options.
Start ApplicationQuestions? Talk to a specialist:
(215) 999-8412
Mon-Fri 9am-6pm CT