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.
You borrow money to purchase equipment and own it from day one. Make fixed payments until the loan is paid off.
You rent equipment with an option to purchase, return, or upgrade at lease end. Lower monthly payments.
$25,000 to $2M+ depending on equipment type and business strength.
12 to 84 months, aligned with useful life of equipment.
APR typically ranges from 6% to 30% based on credit and equipment type.
0-20% depending on credit profile and equipment condition.
24-72 hours for approval, funding within 3-7 days.
New and used equipment eligible. Used typically 2-5 years old max.
Equipment financing is a loan where you own the equipment immediately and make fixed payments until paid off. Equipment leasing is renting equipment with an option to buy, return, or upgrade at lease end. Financing builds equity, while leasing offers lower payments and easier upgrades. Learn more in our equipment financing vs equipment leasing comparison.
Yes, both new and used equipment can be financed. Used equipment may have slightly higher rates and shorter terms. Lenders assess equipment value, age, and condition. Used equipment can be cost-effective for businesses with budget constraints.
Equipment financing typically approves in 24-72 hours. Once approved, funding can occur within 1-3 business days. The equipment serves as collateral, speeding approval compared to unsecured loans. Faster approval requires complete documentation and equipment quotes.
Most business equipment can be financed including vehicles, machinery, technology, medical equipment, construction equipment, and more. Equipment must be used for business purposes and have clear value. Some lenders specialize in specific equipment types.
Equipment financing is easier to qualify for than unsecured loans because equipment serves as collateral. Some lenders accept credit scores as low as 600, though higher scores get better rates. Strong cash flow and equipment value can offset lower credit scores.
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).
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.
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