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Crest Capital business loans review

Combine up to $1 million in equipment financing with working capital.

You might want to consider a business loan from Crest Capital if you’re looking to finance equipment, vehicles or software in addition to working capital. Applying won’t affect your credit, and you could get funding the same day. But it’s not up front about what rates it charges or eligibility requirements.

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Details

Min. Amount$5,000
Max. Amount$1,000,000
APRVaries
RequirementsGood credit, established business

First, do I qualify?

Crest Capital doesn’t advertise eligibility requirements, though you can take a quiz on its website to find out if you qualify. You generally must meet the following criteria, however:

  • Good credit
  • Established business
  • Need financing for equipment, vehicles or software

What makes Crest Capital business loans unique?

Crest Capital allows you to combine equipment, vehicle or software financing with working capital. While you can’t get a working capital loan on its own, you can add up to 25% of your equipment or vehicle’s value to cover general business costs. This means you can borrow up to 125% of your equipment’s value through Crest Capital.

This lender also doesn’t run a hard credit check or require a personal guaranty. And you can get your funds in as fast as a few hours.

Pros

  • Combine equipment financing and working capital
  • Private party financing OK
  • No hard credit check
  • Funding as fast as the same day

Cons

  • Doesn’t disclose cost or eligibility criteria online
  • No working capital without equipment
  • Not for startups

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How do I apply?

You can apply for a Crest Capital business loan online. Before you get started, check to see if you qualify by filling out the quick eligibility form on Crest Capital’s website. If your business can qualify, follow these steps:

  1. Go to the Crest Capital website.
  2. Scroll down and click Apply Here.
  3. Enter your name, company name and contact information. Click Get Started.
  4. Fill out the required fields with information about your company, the owners, the item you want to finance and who you’re buying it from.
  5. Review the terms and conditions before signing the application.
  6. Click Submit Application.

Depending on when you apply, you could receive your funds as soon as the same business day. Crest directly sends the equipment financing portion of the loan to the seller and any remaining funds to your business.

What documents do I need to apply?

It depends on your loan size. Loans under $250,000 might not require any documentation at all, other than the invoice of what you’re purchasing.

If you’re looking to borrow more than that amount, get the following documents together:

  • Invoice for equipment, vehicle or software
  • Written description of organization
  • Written purpose and justification of why you need the equipment
  • Previous two year-end financial statements
  • Current interim financial statement
  • Last two years of business tax returns
  • Last two years of personal tax returns
  • Current personal financial statement
  • Business debt schedule

How do repayments work?

Check your loan contract to find out when your loan payments are due. If you have any questions or concerns about your loan, contact customer service by calling 800-245-1213. If you decide to pay off your loan early or want to refinance with another lender, you can find out how much you’ll owe by filling out a payoff request form on Crest Capital’s website.

How do repayments work?

Check your loan contract to find out when your loan payments are due. If you have any questions or concerns about your loan, contact customer service by calling 800-245-1213. If you decide to pay off your loan early or want to refinance with another lender, you can find out how much you’ll owe by filling out a payoff request form on Crest Capital’s website.

Find out how it compares to other lenders with our guide to business loans.

Review by


Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 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

Crest Capital could be a good option for established businesses that want to fund equipment, software or a vehicle in addition to working capital.

It has a fast turnaround, wide range of loan amounts and applying won’t affect your personal credit score.

But it’s not transparent about costs, and you’ll have to look elsewhere if you’re a startup.

Not sure Crest Capital is right for you? Compare your other business loan options.

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