Equipment financing

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Self-collateralizing

No down payment or collateral? No problem. Your equipment secures your loan.

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Fast funding

Apply for business equipment financing in minutes and get funded within 2 days.

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Up to 100% financing

Cover the entire cost of your machinery or equipment purchase.

Get the equipment you need to thrive

Equipment financing is a must when you need new vehicles, technology or machinery to run your business.

Business equipment financing allows you to secure these tools without depleting your cash reserves.

Here’s how equipment loans work. Get up to 100% of the value of the equipment you want. The machinery serves as collateral to secure your loan.

  • Coins stacked on table with blue arrow pointing up
    Financing amount Up to 100% of equipment value
  • Calendar image appearing as though the page is being flipped
    Repayment terms 1-5 years
  • Speedometer icon
    Interest rate Starting at 8%
  • Dollar sign in circle
    Funding available in 2 days

Equipment financing made easy

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A 2-minute online application is all it takes to get started. Learn More
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Choose your financing

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Equipment financing requirements

Equipment financing is self-collateralizing, which means you’re not on the hook for a down payment and you don’t have to pledge assets to secure it. Equipment financing can be used to purchase or lease equipment—new or used.

What you’ll need to qualify:

  • 2+ years in business
  • $160K+ annual revenue
  • 620+ credit score

Best equipment financing uses

Use business equipment financing for machinery or technology specific to your industry, regardless of the sector you’re in—restaurant, construction, dry cleaning, automotive or medical.

Buy new commercial equipment

Don’t let rust, mileage or wear and tear stall your operations. One day of missed work due to equipment breakdown, can mean the difference between a client rehiring you for another job or not. When it’s time to upgrade your machinery, time is of the essence. Find the funds to buy the industry tools you need, from dental equipment financing to farm equipment financing and more.

Lease machinery

If financing an equipment purchase seems too much of a commitment in terms of time and cost, a lease might be an ideal alternative. If you have a short-term project that requires specialized machinery, use equipment financing to get the lease you need to operate.

Upgrade office equipment

Have your company computers, printers and other office systems seen better days? Get the latest technology that will keep you ahead of the game. Equipment financing is an ideal solution when you’re looking to fund the machines and tools your business needs to thrive.


Equipment financing FAQs

What is equipment financing?

Business equipment financing is funding you obtain to purchase or lease equipment, tools, technology or machinery you need to operate your business. With equipment financing, the item you’re interested in acquiring serves as collateral for your loan. This means if you’re unable to make your payments, your lender can seize the equipment to recoup their losses.

How does equipment financing work?

With this type of financing you’re able to fund the purchase of a piece of machinery, furniture, vehicle or other resource for your business—from commercial ovens, tractors and construction vehicles to computers, desks and office supplies.

Receive up to 100% of the equipment’s value

You can receive up to 100% of the equipment’s value through business equipment financing. For risky investments, such as items with a high rate of depreciation, lenders may require a 10- to 20-percent down payment.

The amount of funding you receive is determined by what your business qualifies for, as well as the price of the equipment you’re planning to purchase.

With most equipment financing programs, the equipment itself secures the funds. As a result, it’s easier to get equipment loans or leases even if you have bad credit.

Flexible rates and terms

Fast Capital 360’s lending partners offer equipment financing rates starting around 8% with terms that can range from 1-5 years. The length of your agreement will depend largely on the useful life of the item financed.

For instance, you can expect a longer term on a commercial equipment loan or lease if you’re financing a truck or piece of construction equipment versus computer equipment that will become obsolete within a few years.

Payments are made daily, weekly or monthly, depending on the specifics of your agreement.

 

Typical Business Equipment Financing Terms*
Loan amountUp to 100% of equipment value
Rates8%-30%
Repayment terms1-5 years

*Terms can vary by lender and borrower qualifications

What are the pros and cons of equipment financing?

Pros

  • Fast funding available
  • Self-collateralizing
  • Option to lease
  • Ability to spread out the cost of your purchase over time

Cons

  • Restricted to equipment, tools and machinery
  • Down payment may be required

Loan vs. lease: which type of equipment financing program is right for you?

Equipment financing is right for businesses that have an opportunity to grow through the acquisition of a certain resource or tool. But the question remains: Should you lease or buy your business equipment? The route you choose will determine how you finance the purchase.

Business equipment loans are used to procure equipment you desire to own. This makes sense when you require materials you plan to use for 3 years or more. Durable machines like cash registers, refrigerators or commercial manufacturing tools are great examples of items worthy of an equipment loan.

You should consider leasing business equipment if the item you plan to finance will become outdated quickly, or you’re not in a position to provide a down payment.

When deciding if you should purchase or lease your business equipment, consider the following:

  • How long will you need the equipment?
  • What is your business’s current financial situation?
  • Will the equipment become outdated quickly?
  • Will you be able to maintain the equipment on your own

What will an equipment business loan cost?

To give you a better idea of what equipment financing might cost, use our loan calculator to crunch the numbers and estimate your total cost of borrowing.

Equipment financing requirements

Exact qualifications vary by lender and the equipment being financed. But typically, to get equipment financing, you’ll need to meet certain requirements specific to time in business, annual revenue and personal credit score.

What you’ll need to qualify:

  • Time in business
    2+ years
  • Annual revenue
    $160K+
  • Credit score
    620+

How can I apply for equipment financing?

To apply for equipment financing with Fast Capital 360, just tell us about yourself, your business and your funding needs. Then connect your bank account through our secured connection (or provide 4 months of bank statements). Submit a signed application and provide detailed information about the equipment you’re looking to acquire.

Details will vary depending on the type of equipment, but can include:

  • Condition (i.e., new versus used)
  • Number of miles or man hours the equipment has been operated
  • Seller information (i.e., private seller or vendor)

Whether you’re financing an expensive piece of equipment that falls outside of your price range or the majority of your capital is invested elsewhere, a business equipment loan is an invaluable tool. Let us connect you with some of the best equipment financing companies to find the right funding option for you.

Applying is fast, easy–and most importantly–won’t impact your credit.

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