Equipment Loans
Equipment Loans — Own Your Equipment with Fixed-Rate Financing
Finance new or used business equipment with up to 100% financing and approvals in 24-48 hours. Competitive rates for construction, healthcare, manufacturing, and transportation equipment.
What Is an Equipment Loan?
An equipment loan is business financing used to purchase new or used equipment, where the equipment itself secures the loan. That collateral lowers risk for lenders, which often means up to 100% financing, no down payment, and easier qualification than unsecured borrowing. It's a popular choice for construction, healthcare, manufacturing, and transportation businesses that need to buy revenue-generating machinery while keeping working capital free.
You repay over a term matched to the equipment's useful life, with competitive rates that vary by lender, credit, and equipment type. Many applicants receive a decision within 24-48 hours. If you prefer to upgrade rather than own, explore broader equipment financing and leasing options, consider a flexible-use business term loan, or estimate payments with our loan calculator.
$25K - $5M
Loan amounts
100% Financing
No down payment required
All Equipment
New and used equipment
How It Works
Equipment Financing Explained
Equipment loans are specifically designed to help businesses purchase or lease equipment needed for operations. The equipment itself serves as collateral, often allowing for 100% financing with competitive rates.
How Equipment Financing Works
Equipment financing uses the purchased equipment as collateral, reducing risk for lenders and often allowing for better terms. You can finance new or used equipment with terms that match the equipment's useful life.
Equipment as Collateral:The equipment secures the loan, reducing risk
Preserve Cash Flow:Keep working capital available for operations
Tax Benefits:Section 179 deduction and depreciation benefits
Equipment Loan vs. Lease
Equipment Loan Benefits
- • Own the equipment immediately
- • Build equity in the asset
- • Full tax deduction potential
- • No mileage or usage restrictions
When to Consider Leasing
- • Need latest technology regularly
- • Lower monthly payments
- • Equipment depreciates quickly
- • Want to avoid maintenance costs
Industries We Serve
Equipment by Industry
We finance equipment across all major industries, from construction and healthcare to manufacturing and transportation.
Construction
Excavators & Bulldozers
Cranes & Lifts
Concrete Equipment
Tool & Generator Sets
Healthcare
MRI & CT Scanners
Dental Equipment
Laboratory Equipment
Surgical Instruments
Manufacturing
CNC Machines
Assembly Line Equipment
Quality Control Systems
Packaging Equipment
Transportation
Commercial Trucks
Trailers & Containers
Fleet Management Systems
Loading Equipment
Success Stories
Equipment Financing Success Stories
See how businesses like yours have used equipment financing to grow and succeed.
Bakery Expansion
A growing bakery needed industrial ovens and mixing equipment to meet increased demand but wanted to preserve cash for ingredient inventory.
Equipment Cost:$125,000
Down Payment:$0
Term:5 years
Monthly Payment:$2,580
Result: Equipment financed with no down payment and fixed monthly payments
Medical Practice Growth
An orthopedic practice needed an MRI machine to offer in-house imaging services and reduce patient wait times.
Equipment Cost:$850,000
Down Payment:$85,000 (10%)
Term:7 years
Monthly Payment:$12,450
Result: New equipment financed over 7 years with 10% down
Tech Startup Scaling
A software company needed high-performance servers and networking equipment to support rapid user growth.
Equipment Cost:$180,000
Down Payment:$18,000 (10%)
Term:3 years
Monthly Payment:$5,100
Result: Infrastructure financed over 3 years, keeping cash free for operations
Equipment Financing Application Process
Step-by-Step Process
1
Equipment Selection & Quotes
Choose your equipment and obtain quotes from vendors. We can work with any approved vendor.
2
Application & Credit Review (24-48 hours)
Submit application with basic business and equipment information for quick credit decision.
3
Documentation & Approval (1-2 days)
Provide required documents and receive final approval with terms.
4
Equipment Delivery & Funding
We pay the vendor directly upon equipment delivery and acceptance.
Required Documentation
Business Information
Equipment quote/invoice
Business tax returns (2 years)
Bank statements (3 months)
Financial statements
Equipment Details
Equipment specifications
Vendor information
Delivery timeline
Installation requirements
Common Uses for Equipment Loans
Expand production capacity
Replace aging equipment
Improve efficiency
Technology upgrades
Fleet expansion
New business locations
Competitive advantage
Cost reduction
Equipment Loan Requirements
Credit Score:600+
Time in Business:1+ years
Annual Revenue:$75K+
Interest Rates:7% - 14.99%
Loan Benefits
- • Equipment serves as collateral
- • 100% financing available
- • Section 179 tax benefits
- • Preserve working capital
Equipment Loan vs. Equipment Financing and Leasing — Which Is Right?
Both options help you acquire the machinery your business needs, but they suit different goals. The deciding factor is usually whether you want to own the equipment or stay flexible.
An equipment loan is the right fit when you want to own the equipment outright and value predictable costs. You build equity in the asset, the equipment itself serves as collateral, and fixed payments over a term matched to its useful life make budgeting easy. It works well for durable machinery you plan to keep for years, where ownership and full use without restrictions matter more than swapping for the latest model.
If you would rather upgrade frequently, keep monthly payments lower, or preserve cash for other priorities, look at broader equipment financing and leasing options, which let you weigh leasing against buying for new or used equipment. And when your funding need is not tied to a specific machine, a flexible-use business term loan can cover a wider range of investments.
Explore Related Financing Options
Compare financing options to find the best fit for your business needs
$10K–$5M
Equipment Leasing
Lease business equipment with lower upfront costs and potential tax advantages.
Learn more$10K–$10M+
Equipment Financing
Purchase or lease business equipment with the equipment itself serving as collateral.
Learn more$50K–$10M+
Heavy Equipment Financing
Specialized financing for construction, mining, and transportation heavy equipment.
Learn moreUp to $5M
SBA 7(a) Loans
The most flexible SBA program with up to $5M for working capital, equipment, and real estate.
Learn moreFAQ
Frequently Asked Questions
With equipment loans, you borrow to purchase equipment and own it outright once repaid. With leasing, you pay to use equipment for a set term with options to buy, return, or upgrade at the end. Loans build equity; leases typically have lower monthly payments.
Yes, we finance both new and used equipment. Used equipment must typically be in good working condition and have remaining useful life. Financing terms and rates may vary based on equipment age and condition.
Equipment loan approvals can be completed in as little as 24-48 hours for straightforward applications. Funding typically occurs within 3-7 business days after approval and documentation.
We finance equipment across all industries including construction, healthcare, manufacturing, transportation, agriculture, technology, restaurants, and more. Any revenue-generating equipment can typically be financed.
Typical requirements include a credit score of 600 or higher, at least 1 year in business, and around $75K or more in annual revenue, plus a clear purpose for the equipment. Because the equipment serves as collateral, qualification is often easier than for unsecured loans. You will also provide an equipment quote, recent bank statements, and business tax returns.
Equipment loans range from $25,000 to $5 million, with up to 100% financing available for qualified borrowers, so you may not need a down payment. The amount you can borrow depends on the equipment's value, your credit, time in business, and revenue. Terms run from 2 to 7 years to match the equipment's useful life.
It is possible. Because the equipment secures the loan, lenders can be more flexible than with unsecured financing. Newer businesses or those with weaker credit may still qualify with stronger personal credit, a down payment, or additional collateral. Rates for higher-risk borrowers are typically higher to reflect the added risk.
Financing equipment can offer meaningful tax advantages. The Section 179 deduction may let you deduct the cost of qualifying equipment, and you may also benefit from depreciation and interest deductions. Tax treatment depends on your situation, so confirm the specifics with a qualified tax advisor before filing.
Still have questions? Our loan experts are here to help.