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American Capital Group equipment financing review

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Equipment leasing without the hassle of sending in multiple documents.

finder.com’s rating: 3.4 / 5.0

★★★★★

  • Best for established businesses looking for a document-free, streamlined application.
    • Pick something else if you don’t have a business credit score or own your home.

$5,000

Min. Amount

$150,000

Max. Amount

Details

Product NameAmerican Capital equipment financing loans
Min. Amount$5,000
Max. Amount$150,000
Loan Term18 to 60 months
Requirements3+ years under current business ownership, D&B Paydex score of 55+, at least 50% comparable term credit, majority business owns a home

Expert review

Anna Serio

Review by


Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 950 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.

Expert review

American Capital Group’s Application-Only Financing Program is ideal for established businesses looking for equipment leasing without the headache of submitting multiple documents. It offers financing of up to $150,000 with just one streamlined application.

It’s not open to startups or new businesses, however. And you’ll need to have a business credit score and own your home to qualify. You also won’t find much information available online about how much it’ll cost or how the leasing program works. This makes it difficult to compare it to other similar products.

Not sure American Capital Group is right for you? Compare your other business loan options below.

First, do I qualify?

You must meet the following requirements at a minimum to qualify for equipment financing with American Capital Group:

  • At least three years under current ownership
  • Dun & Bradstreet Paydex score of 55 
  • At least 50% comparable term credit
  • Majority business owner owns a home

You must meet additional requirements, including having an average account balance of $10,000, to qualify for a lease over $75,000.

What makes American Capital Group Application-Only Financing unique?

American Capital Group’s Application-Only Financing Program makes it a lot easier to apply for an equipment lease. You only have to submit a one-page application and no documents when you apply. It also doesn’t require a down payment, though you have to make two advance payments when you sign the paperwork.

Pros

  • No documents required
  • Wide range of leasing terms and financing amounts
  • Works with over 30,000 equipment resellers

Cons

  • No information about costs online
  • Requires two advance payments up front
  • Business credit score and home ownership required

Compare other business loan options

Data indicated here is updated regularly

Name Product Filter Values Loan amount APR Requirements
First Down Funding business loans
$5,000 – $300,000
Fee Based
At least 1 year in business, an annual revenue of $100,000+, and a minimum credit score of 400
Alternative financing up to $300K with highly competitive rates.
Lendio business loans
$500 – $5,000,000
Starting at 6%
Operate business in US or Canada, have a business bank account, 560+ personal credit score
Submit one simple application to potentially get offers from a network of over 300 legit business lenders.
ROK Financial business loans
$10,000 – $5,000,000
Varies
Eligibility criteria 3+ months in business, $15,000+ in monthly gross sales or $180,000+ in annual sales
A connection service for all types of businesses — even startups.
OnDeck small business loans
$5,000 – $250,000
As low as 9.99%
600+ personal credit score, 1 year in business, $100,000+ annual revenue
A leading online business lender offering flexible financing at competitive fixed rates.
Rapid Finance small business loans
$5,000 – $1,000,000
Fee based
Steady flow of credit card sales, bad credit OK
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Compare up to 4 providers

How do I apply?

You can apply online or over the phone by calling 949-441-5739. Follow these steps to get started online:

  1. Go to the American Capital Group website.
  2. Click Apply Now.
  3. Fill out the form with information about your business, yourself and the equipment you want to purchase.
  4. Read the consent and credit authorization report, then check the box agreeing to its terms.
  5. Click Submit.

What documents do I need to apply?

American Capital Group doesn’t require you to provide any documents for this type of equipment lease. However, you’ll need to provide a bank reference during the application, which allows American Capital Group to review your business’s standing with its bank.

What happens after I apply?

Wait to hear back from American Capital Group about a decision. If approved, review the terms of your contract and follow directions to provide additional information. After you sign your loan documents, American Capital Group requires your business to make two payments before you receive your money.

How do repayments work?

American Capital Group should outline the terms of your lease payments in your loan documents. If you have any questions or concerns about your lease, reach out to customer service as soon as possible.

Find out how American Capital Group holds up to the competition with our guide to business loans.

Business loan ratings

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