Equipment Financing – Equipment Loans For Small Businesses
Some things just can’t wait. Get the equipment you need today without breaking the bank.
Get The Capital You Need to Grow With Business Equipment Financing
You May Already Qualify
It takes just 10 minutes to pre-qualify for our small business equipment financing.
Grow, Don’t Owe
With our flexible loan terms and affordable rates, you can get the equipment you need today.
Access Funds, Zero Delay
Don’t wait months for capital. Get your small business equipment loan deposited directly to your business bank account.
Speak to a Loan Expert
See Why Small Business Owners Choose Credibly For Equipment Financing
“I turned to Credibly because it seemed as though it was going to be easy, and it turned out to be quite simple. Applying for bank loans can be very time-consuming and intensive, and I thought this would be a great new way to get capital. We had just received a new commission for a pretty large hotel project, and I was able to feel comfortable hiring staff and buying equipment that we needed. I found it super effective for us, and would recommend Credibly to other architects or other small business owners in a heartbeat.”
Mark VanderZanden
Surround Architecture, Inc.
Dependable Equipment Loans For Small Business Owners
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?
Pre-Qualify Online
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.
It’s Easy To Apply For Small Business Equipment Loans
Step 1
Pre-Qualify Online
Pre-Qualify Online
Just click the “Get Started” button below and pre-qualify for small business equipment financing.
Step 2
Approval in as little as 4 Hours
Approval in as little as 4 Hours
We’ll review your application and get back to you with the best financing options in as little as one day.
Step 3
Receive Same-Day Funding
Receive Same-Day Funding
Funds are automatically deposited into your business account. Plus, repayments are already set up so you can focus on running your company.
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?
Pros
- Doesn’t require a minimum credit score or annual revenue to qualify.
- Allows you to purchase essential equipment you otherwise couldn’t afford.
- Has favourable interest rates, repayment terms, and total loan terms when compared to alternatives.
- Easier to qualify for equipment financing because your new machinery is the collateral.
- Save money by listing equipment financing as a tax deduction under Section 179.
Cons
- This type of financing is strictly for equipment.
- If you can no longer afford to pay the loan, the equipment gets collected as collateral.
- Equipment that needs frequent replacing may increase debt.
- If your equipment is prone to obsolescence, better opt for equipment leasing.
Working Capital Formula = Current Assets – Current Liabilities
Current assets are the tangible and intangible items that your company owns and can be easily turned into cash within one business cycle. Along with your checking and savings account, this includes things like accounts receivable, highly liquid marketable securities, inventory, and other shorter-term prepaid expenses.
Current liabilities include all of the debts and expenses firms expect to pay within one business cycle. This typically includes all of the normal costs associated with running a business: utilities, rent, matierials and supplies, interest and principal payments on debt, accounts payable, and accrued liabilities and income taxes.
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.
Equipment Loans Not Right For You? Check Out Our Other Funding Options
Line of Credit*
Like a business credit card, you can draw as you need and only pay for what you use.
Learn more >
Merchant Cash Advance
A great financing solution for those with lower credit scores in immediate need of short-term funding.
Learn more >
All Financing Options
Still looking for the right fit? Check out all of Credibly’s business financing options.
Learn more >
Why Credibly?
Equipment Finance Rates You Won’t Get Elsewhere
Get some of the most competitive business equipment loan rates that you won’t find at other alternative financing options. Our factor rates go as low as 1.09**.
We Believe in Small Businesses
With a record of helping over 30,000 small businesses across the U.S. and a TrustPilot rating of 4.8, Credibly is much more than just a lender—we’re your partner.
Secure Loans Fast
Don’t wait weeks or even months to hear back from a bank. Get the fast business loan you need you need to grow your business today.
Accelerate Your Growth
Our streamlined application process, competitive rates, flexible terms, and rapid response times empower your business.
Unbeatable Interest Rates
Worried about small business equipment loan interest rates? Don’t be—we find the cheapest rates and pass the savings on to you.
100% U.S. Based Reps
As our customer, you’ll have easy access to live agents whenever you need it, from loan advice to ongoing support.
FAQs About Small Business Equipment Loan Financing
What types of business equipment can I finance?
Almost without exception, any equipment needed for the operation of your small business can be financed.
Some commonly financed items include:
- Medical equipment and devices
- Construction or industrial equipment
- Carpentry workbenches and tools
- Commercial grade kitchen appliances
- Office furniture
- Computer software for operations use
- Devices for office or business use
- Company vehicles used for transporting goods or employees
- Food trucks
- Farm machinery
Can I finance used equipment for my business?
The short answer is yes. But keep in mind that the lender gets the final say.
In the event that you default on your loan payments, the lender will repossess the equipment for liquidation.
Most lenders prefer new or like-new equipment, as it has less wear-and-tear and hasn’t depreciated as much.
What do I need for the equipment financing process?
In assessing your loan amount and loan eligibility, online lenders and equipment financing companies may ask you for several of the following documents:
- Business credit score/credit history
- Personal credit score
- Financial statements
- Business plan
- Tax history
- Information about the equipment to be financed (new/used, age, type of equipment, lifetime value, etc.)
What is the difference between equipment financing and leasing?
Equipment leasing and equipment financing both allow you to access the equipment you need while paying for the asset over its lifetime.
Equipment leasing permits you to rent business equipment from your vendor for a monthly payment while equipment loans allow you to fully own the asset once you have repaid your loan.
Fast, Fair, and Flexible Equipment Loans
At Credibly, we help owners just like you invest in the future of your business.
*Some products are made available through Credibly’s network of external funding partners
**Rates are included in your daily payback quote to simplify repayments and account monitoring. Rates, pricing, requirements and other terms and conditions subject to change without notice.
Certain products may not be available in all states.
Certain business loan products are made available through Retail Capital LLC, a licensed California Finance Lender.
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