Business Equipment Financing Get the Equipment, Pay Over Time
Finance the machinery, vehicles and tools your business runs on, with the equipment itself securing the deal. Compare loan and lease options from funding partners.
Check My Options →- Equipment loans and leases
- The equipment serves as collateral
- Secure bank connection via Plaid
- Pre-qualification soft inquiry (no credit score impact)
How Equipment Financing Works
- 1
Pick the equipment
Get a quote or invoice from the dealer or seller. The equipment's cost, age and type shape the financing options available.
- 2
Apply for financing
Lenders review your business's revenue, time in business and credit, along with the equipment itself.
- 3
The equipment secures it
The equipment usually serves as collateral, which is why it can be easier to qualify for than an unsecured loan.
- 4
Repay over time
You make fixed payments over the term while putting the equipment to work in your business.
Equipment Loan or Equipment Lease?
| Equipment Loan | Equipment Lease | |
|---|---|---|
| Ownership | You own the equipment | The lessor owns it during the lease |
| End of term | Equipment is yours, free and clear | Return it, renew, or buy it out, depending on the lease |
| Upfront cost | A down payment may be required | Often a lower upfront cost |
| Best for | Equipment you'll use for many years | Equipment you upgrade often, like technology |
| Taxes | Ask your tax advisor about depreciation | Ask your tax advisor about deducting payments |
Equipment Financing by Industry
Construction & Heavy Equipment
Excavators, loaders, skid steers and other job-site machinery.
Restaurant & Commercial Kitchen
Ovens, refrigeration, fryers and food-prep equipment.
Medical & Dental
Diagnostic, imaging, dental chairs and practice equipment.
Laundromat
Commercial washers, dryers and payment systems.
Trucks & Vehicles
Work trucks, vans, trailers and fleet vehicles.
Farm & Agricultural
Tractors, harvesters and other farm machinery.
Manufacturing
Production lines, CNC machines and industrial tools.
Technology & Office
Computers, servers, phone systems and office equipment.
What Equipment Lenders Look At
Time in Business
Established businesses see the most options. Some lenders work with newer businesses.
Revenue & Cash Flow
Lenders want to see that your deposits can support the payments.
Credit Profile
Personal and business credit both factor in, alongside the equipment's value.
The Equipment
Its cost, age, condition and expected useful life affect the structure of the deal.
Requirements, rates and terms vary by lender and are confirmed by the lender before you sign.
Apply Directly With an Equipment Lender
These are independent third-party services, not GoSwiftFund products. GoSwiftFund may earn a referral fee if you sign up through these links. Review each provider's own terms, rates, and fees before applying.
Need cash for more than equipment? See revenue-based capital, SBA 7(a) loans or more funding options, or estimate payments with our business loan calculator.
Frequently Asked Questions
What is equipment financing?
Equipment financing is a loan or lease used to buy business equipment, with the equipment itself typically serving as collateral. You get the equipment now and pay for it over time instead of paying the full cost upfront.
What's the difference between an equipment loan and an equipment lease?
With an equipment loan you own the equipment and it's yours once the loan is repaid. With a lease, the leasing company owns it and you pay to use it; at the end you may return it, renew, or buy it out, depending on the lease terms.
Can a startup get equipment financing?
Some lenders work with newer businesses, since the equipment secures the financing. Options generally widen with more time in business and steady revenue, and a newer business may be asked for a larger down payment or stronger credit.
Can I finance used equipment?
Many lenders finance used equipment as well as new. The equipment's age and condition affect what's available, so have the seller's details and price ready when you apply.
How long are equipment financing terms?
Terms are usually matched to how long the equipment is expected to last, and vary by lender and equipment type. Your lender will give you the specific term, payment and total cost before you sign.
Will checking my options affect my credit score?
Checking your options with GoSwiftFund uses a soft inquiry, which does not affect your credit score. Third-party lenders listed on this page run their own checks, so review their terms before applying.
Put the Right Equipment to Work
Tell us about your business and the equipment you need. Checking your options uses a soft inquiry, so your credit score is not affected.
Check My Options →