Equipment financing

Equipment Financing

Equipment for virtually any industry.

Loan amount: Up to $250K
Term: 1–5 years
Cost: As low as 8%
Repayment: Monthly

A metalworker at the grinder in safety glasses, with the machine the work depends on.

Equipment financing

What it is

Equipment financing covers the cost of buying or leasing what your business runs on. Most owners hear the phrase and picture tractors and backhoes — construction equipment is certainly financeable, but so are refrigerators, vehicles, medical devices, ovens, servers and computers.

Exact qualifications vary by lender and by the equipment itself. If you do not meet all of them — a credit score under 650, say — solid cash flow can still make the case.

What it gives you

What lenders usually look for

12+ months in business
650+ credit score
$50,000+ annual revenue
Quick and easy application

The evidence

What a lender will look at for this one

The five items from the checklist, with what this program publishes about each.

Time in business

That the business has lasted through more than one season, and that its revenue has a history rather than a start date.
What equipment financing publishes
- 12+ months in business, usually
Monthly revenue

The size of what the business can carry: how much a repayment would be as a share of what it takes in.
What equipment financing publishes
- $50,000+ annual revenue, usually
Recent bank statements

That the revenue is real. Deposits are the one figure a lender does not have to take on trust.

What equipment financing publishes
No published requirement. The lender decides.
Credit

How debt has been handled before. It is one item among five, not the whole case.
What equipment financing publishes
- 650+ usually, though solid cash flow can make the case below it
For equipment, the quote

What the money buys and what it is worth. Qualifications vary with the equipment itself.
What equipment financing publishes
- Up to $250K, over 1 to 5 years