What Is Equipment Financing?
Capital, When You Really Need It
Whether you run a coffee shop or a construction company, your products and services depend on having the right tools.
✔ Get the equipment you need to succeed without hurting cash flow.
✔ Use the equipment as collateral for the loan.
✔ Help your business thrive in a competitive industry.
What Is Considered Busness Equipment?
The term ‘business equipment’ encompasses any long-lasting, hard asset your company requires for its operations.
✔ Includes machinery, vehicles, computers, fixtures, furniture, electronic devices, and other office machines.
✔ Can be acquired through a business loan or business lease.
✔ Business equipment is eligible for a Section 179 tax deduction.
Other Benefits of Equipment Financing
Compared to other financing methods, equipment financing offers a host of secondary benefits for your business.
✔ Access additional lines of credit while building your business credit score.
✔ Spreading payments over time lets you better manage your budget.
✔ Increase tax efficiency with the right equipment financing program.
Why Choose Credibly for Equipment Financing?
Flexible Business Equipment Loan Rates and Terms
We’ve made the approach simple, straightforward, and transparent while offering competitive rates and flexible terms.
✔ Enjoy the best small business equipment loan rates on the market.
✔ We offer one of the widest arrays of loan programs amongst any direct lender.
✔ Take advantage of a heavy equipment loan for a major purchase.
Transparent and Seamless Process
At Credibly, we know you need equipment today. That’s why we provide you with the capital you need—when you need it.
✔ No filling out form after form—apply online in minutes.
✔ Get approved within 24 hours.
✔ Our team of loan experts is always on standby to assist you.
Tell Us About Your Business
We believe that your ideas cannot be “Subject to credit approval.” That’s why when banks say no, we say, “Tell us about your business.”
✔ We’ve helped 30,000+ businesses reach their goals.
✔ Receive guidance to make the most of your business capital.
✔ We treat you like a partner—not a transaction.
How Do I Get Equipment Financing?
Qualifying for an equipment loan has never been faster. Simply fill out our questionnaire with some basic business info and hit submit.
✔ The application takes just minutes of your time to complete.
✔ We contact you right away to discuss the best financing options.
✔ Over 90% of our applicants pre-qualify for a commercial equipment loan.
Once You’re Approved
Once your submission has been processed, one of our friendly business consultants will contact you with your approval status and timeframe.
✔ Qualify for anywhere from $10,000 to $10M in small business equipment financing.*
✔ We’ll contact you faster than you can drive to the bank.
Receive Equipment Financing
Once you’ve been approved for equipment financing, your funds become available immediately.
✔ Enjoy same-day funding and get your equipment without delay.
✔ Funds are securely transferred directly to your account.
✔ Speak with one of our 100% U.S.-based customer service agents anytime.
What Is Equipment Financing?
Equipment financing is a type of business financing specifically intended to be used for business equipment. The term “equipment” includes virtually any physical item a business uses in the course of its operations, so it can be used for things like furniture, computers, ovens, vehicles, medical equipment, construction equipment, and other highly-specialized tools, just to name a few.
What Are the Advantages and Disadvantages of Equipment Financing?
Commercial equipment loans are a great way to make big purchases on essential business machinery. They lighten the financial load of an outright purchase, allowing you to invest in the future of your business without taking a big hit to your cash flow.
Still, you may be wondering: Is a small business equipment loan right for me?
Working Capital Formula = Current Assets – Current Liabilities
Types of Equipment Financing
Many different types of loans can be used to cover equipment purchases, including merchant cash advances, invoice financing, and microloans. If you are a small business owner, another option you may want to consider is an SBA loan. Funds from 7(a) loans, which are backed by the SBA, can be used for a wide variety of business expenses, including purchasing equipment. Businesses who are looking to make larger investments or purchase particularly expensive pieces of equipment may be interested in another type of SBA loan called a CDC/504 loan.
The Difference Between Equipment Financing and Equipment Leasing
The terms “equipment financing” and “equipment leasing” are sometimes used interchangeably, but be aware they aren’t exactly the same things. Equipment financing allows you to own the equipment at the end of the term, but with equipment leasing, you simply make monthly payments for the ability to use the equipment for a set amount of time. This makes leasing a more cost-effective option for equipment you only have a temporary need for or would become obsolete by the time it’s paid off. Equipment financing is better suited for equipment that is crucial to your long-term business operations.