How Restaurant Equipment Financing Works
Restaurant equipment financing lets you buy or lease kitchen equipment and pay for it over time. The equipment secures the loan, so lenders focus on the equipment, your time in business and your credit rather than asking for real estate as collateral.
It works for a single range or a full kitchen build-out, for new and used equipment, and for openings, remodels and replacements. Payments are fixed and usually spread over the equipment's useful life.
Typical Terms
Rates
From 7%
Financing
Up to 100% on qualifying deals
Terms
Typically 2-7 years
Equipment
New and used
Approval decision
24-48 hours
Collateral
The equipment itself
Rates and down payment depend on credit, time in business and the equipment. Leases are available with $1 buyout and fair-market-value options.
Who It's For
- Restaurants opening a new location or remodeling a kitchen
- Owners replacing equipment that's failed or too costly to repair
- Cafes, bakeries, bars, food trucks and catering kitchens
- Franchisees with brand-required equipment packages
- Operators who want to keep cash for payroll and inventory
What You'll Need
- Itemized vendor quotes or invoices
- Time in business; startups may need a larger down payment
- Recent business bank statements
- Personal credit check for the owners
- Tax returns and financial statements for larger requests
How It Works
- 1
Get vendor quotes
Collect itemized quotes for the equipment, delivery and installation.
- 2
Apply with basic financials
Share your time in business, recent bank statements and, for larger amounts, tax returns.
- 3
Decision in 24-48 hours
Compare the loan and lease offers we bring back on rate, term and end-of-term options.
- 4
Vendor is paid
The lender pays the vendor directly when the equipment is delivered and installed.
Restaurant Equipment You Can Finance
Almost anything with a serial number and a useful life of several years qualifies, including:
- Ranges, ovens, fryers, griddles and charbroilers
- Walk-in coolers, reach-in refrigerators and freezers
- Hoods, ventilation and fire suppression systems
- Dishwashers and warewashing systems
- Ice machines, beverage and espresso equipment
- POS systems, furniture and signage
Loan or Lease?
An equipment loan makes you the owner from day one. A lease can lower the monthly payment and let you upgrade at the end of the term; a $1 buyout lease works like a loan, while a fair-market-value lease is closer to renting. Ask your tax advisor how Section 179 and depreciation apply to either choice.