Equipment financing lets you acquire the tangible assets your business runs on — without draining your cash. Because the equipment itself secures the loan, approval is more flexible than unsecured financing, down payments are low or zero, and even newer businesses qualify.
How equipment financing works
- Pick your equipment. Get a quote or invoice from your vendor.
- Get matched & approved. A one-page application plus a few bank statements is usually all it takes — often approved in a day or two.
- Take delivery, pay over time. Repay in fixed installments over 1–5 years while the equipment earns for you. At the end, it's yours.
The equipment is the collateral. That's why credit standards are flexible (often to 580), there's frequently no down payment, and there's no minimum time in business on many programs.
What you can finance
- Trucks, trailers & vehicles
- Manufacturing & production machinery
- Construction & heavy equipment
- Medical, dental & veterinary equipment
- Restaurant & commercial kitchen equipment
- Technology, POS systems & office furniture
Financing vs. leasing
Financing means you own the equipment and build equity as you pay — best for assets you'll keep for years. Leasing means lower payments to use equipment the lender owns, often with a buyout option — best for tech that ages quickly. Your advisor helps you choose at no cost.
Typical guidelines
| Requirement | Typical minimum |
|---|---|
| Time in business | No minimum on many programs |
| Monthly revenue | No minimum on many programs |
| Credit score | 580+ (varies by equipment) |
| Documents | Application + equipment quote (+ bank statements if applicable) |
Frequently asked questions
How does equipment financing work?
You receive the equipment now and repay over 1–5 years. The equipment is collateral, so approval is flexible and down payments are low or zero. You own it once it's paid off.
Can a startup get equipment financing?
Yes — many programs have no minimum time in business and accept credit down to ~580 because the loan is secured by the equipment.
Financing or leasing — which is better?
Finance to own long-lived assets and build equity; lease to keep payments low on equipment that ages fast. It depends on the asset and your cash flow.