Best Equipment Loans & Financing Companies (2026)

Equipment loans help your business cover the cost of expensive vehicles, machinery or technology when you want to boost production or update your current operating systems. You can often finance business equipment directly through the manufacturer or seller — but you might find a better deal through a bank or alternative lender.

Use our list to compare some of the best equipment financing companies.

• Best for fast funding: Fundera business loans
• Best for comparing equipment loans: Lendio business loans
• Best for SBA loans: TD Bank small business loans
• Best for bad credit: Pinnacle Funding
• Best for B2B firms: FundThrough Invoice Factoring and Financing
• Best for low rates: Triton Capital
• Best for heavy equipment financing: Commercial Fleet Financing

Best for fast funding

9.5 Excellent Fundera business loans

9.5 Excellent

$3,000 to $5 Million

1 to 10 years

4% to 45%

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Why we like it Fundera connects you with equipment financing options that can fund as fast as the same day, ideal when you need to move quickly on equipment purchases. Its marketplace gives you access to multiple lenders through one application, with loan amounts from $3,000 to $5 million. The application won't impact your credit score, and a dedicated funding advisor walks you through the process. But rates vary widely depending on your credit and business profile, and you'll likely need to put 10% to 20% down. Pros & cons Pros Funding as fast as same day One application, multiple lenders No credit score impact to apply Dedicated funding advisor support Cons Wide rate range Down payment typically required Rates depend heavily on qualifications

Best for comparing equipment loans

9.6 Excellent Lendio business loans

9.6 Excellent

$5,000 to $5 million

1 to 10 years

As low as 7.5%

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Why we like it Lendio is a highly rated business loans marketplace with more than 75 partner lenders, allowing business owners to compare multiple equipment loan offers with a single application. Loan amounts can reach as high as $5 million, and rates start at a competitive 3%. It also offers options for borrowers with a range of credit scores. But its minimum monthly revenue requirement is on the high side, and rates can be expensive if your credit score is on the low end. Pros & cons Pros Compare multiple lenders with one application Equipment loans up to $5 million Rates start at 3% Cons High monthly revenue requirement Rates can be high for poor credit

Best for SBA loans

6.7 Standard TD Bank small business loans

6.7 Standard

Varies

Varies

Competitive rates

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Why we like it TD Bank is an SBA preferred lender, meaning it can approve and fund your loan faster than non-preferred lenders. It offers SBA Express, 504 and 7(a) loans in a wide range of loan amounts at competitive rates. But funding times for SBA loans are typically longer than for other loan options and may require a down payment or collateral. Pros & cons Pros SBA preferred lender Multiple loan options Competitive rates Cons Longer funding times than other options May require a down payment or collateral Must meet SBA loan requirements

Best for bad credit

9.9 Excellent Pinnacle Funding

9.9 Excellent

Up to $5 million

6 to 24 months

Varies

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Why we like it If your credit isn’t the best, Pinnacle Funding accepts credit scores as low as {{ Type: NUMBEREQUIPMENT.CREDIT_SCORE_MIN }} — and it only requires a soft credit pull, which won’t bring down your score. It offers business lines of credit and term loans up to $5 million that you can use to finance equipment purchases. Funding is as fast as 24 hours, and it also accepts newer businesses. But it doesn’t disclose rates and fees on its website, and it caps its loan terms at two years. Pros & cons Pros Low minimum credit score requirement Equipment financing up to $5 million Funding as fast as 24 hours Cons Rates and fees undisclosed Short loan terms $180,000 annual revenue requirement

Best for B2B firms

9 Excellent FundThrough Invoice Factoring and Financing

9 Excellent

Up to 100% of your invoices’ value

1 to 3 months

1.9%-2.9% per 30 days

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Why we like it If your company invoices other businesses or government agencies, invoice factoring from FundThrough can help you finance equipment purchases without taking on new debt. Unlike most factoring companies, FundThrough will finance up to 100% of your invoices’ value, and it offers a fully automated process if you connect your accounting software. But it’s typically more expensive than other types of equipment financing and only makes sense for B2B companies. Pros & cons Pros Funds up to 100% of the invoice’s value Fully automated process No impact to credit Cons An expensive form of financing Weekly payments required Doesn’t integrate with all accounting systems

Best for low rates

Not scored yet Triton Capital

Not scored yet

Up to $250,000

12 to 60 months

Starting from 5.99%

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Why we like it Triton Capital offers equipment loans up to $250,000, with rates starting as low as 5.99%. It also offers fast funding and flexible repayment plans — monthly, quarterly, annually, semi-annually or seasonally — depending on your needs. But its max loan amount is on the small side compared to some competitors, and it doesn’t disclose its requirements to qualify or its full range of rates. Pros & cons Pros Rates start at 5.99% Customizable repayment plans Funding in a day or two Cons Relatively low maximum loan amount Doesn’t disclose highest rates Doesn’t list requirements to qualify

Best for heavy equipment financing

Not scored yet Commercial Fleet Financing

Not scored yet

$10,000 to $1,000,000

Varies by loan program

Varies by loan program

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Why we like it One of the country’s top independently owned transportation and heavy equipment financing companies, Commercial Fleet Financing offers competitive, bank-level rates and impeccable customer service. It also provides up to 100% financing for creditworthy customers and multiple loan or leasing programs. But it doesn’t list its rates or requirements to qualify, and you may need to come up with 20% to put down. Pros & cons Pros Up to 100% financing Multiple loan or lease options Fast approval and funding Cons May require 20% down payment, depending on credit Doesn’t disclose rates and fees Requirements to qualify unclear

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Methodology: How we chose these lenders

Our lending experts analyze dozens of business loan providers to narrow down the best options for equipment financing. We weigh lenders against these key metrics:

• Application process
• Rates
• Credit score minimums
• Customer service reviews
• Eligibility requirements
• Extra features
• Fees
• Funding turnaround times
• Lender reputation
• Minimum and maximum loan amounts
• Products offered

We also search for lenders that cater to a range of needs, including those that work with bad credit and newer business owners.

How business equipment financing works

Equipment financing is a type of business loan specifically for purchasing commercial vehicles, machinery or other equipment. It’s very similar to how you finance a car or home: The asset secures the loan, the loan amount is based on the asset’s value and you typically repay the loan in monthly installments.

Most lenders allow you to finance around 80% to 100% of the equipment’s value. The loan term is often based on how long the equipment functions, although it also depends on the specific loan type and lender. Once you’ve repaid the loan in full, you own the equipment.

This type of financing is especially useful for those starting a business or newer businesses that don’t quite have the revenue to buy complex machinery outright. Equipment financing can help in purchasing restaurant ovens, tractors, commercial refrigerators, construction equipment, office furniture, company vehicles and so on.

Equipment loans vs. equipment leasing

Equipment loans are great if you have a long-term need for equipment that doesn’t become outdated after five or 10 years. But leasing may be better suited for businesses that need equipment for a short-term project, need to replace equipment every few years or if your business’s equipment becomes outdated quickly.

Equipment leasing often comes with lower monthly payments than equipment loans, and there’s usually no down payment requirement. At the end of the lease, you usually have the option to return the asset or buy it outright for the remainder of the equipment’s value.

Equipment financing rates and terms

In general, equipment financing is one of the least expensive types of business financing because it’s typically secured by the asset you’re buying.

Business loan marketplaces like Lendzi and Lendio offer equipment financing at rates ranging from around 5% to 25% APR. And that may include an origination fee. You might also have to plan for a down payment of about 10% to 20% of the equipment’s price, depending on the lender.

The monthly and total cost of equipment financing also depends on your loan term. The loan terms could be anywhere from one to 25 years, which is determined by the longevity of the equipment you’re buying. But if your loan allows prepayment without penalty, you can repay your loan early and save money on interest.

Equipment financing calculator

Use this calculator to estimate the cost of financing equipment for your business.

How to qualify for equipment financing

Exact qualifications vary by lender, but typical requirements for business equipment loans include:

• Credit score of at least 600
• Annual revenue around $100,000+
• At least 6 to 12 months in business
• Down payment of 10% to 20%

Some good news for you: Equipment financing has very high approval rates compared to other business loans. In 2024, 85% of applicants were at least partially approved, according to the Small Business Credit Survey (SBCS) by the Federal Reserve Banks.

Pros and cons of equipment financing

Equipment loans have great perks, but there are disadvantages compared to equipment leasing.

Equipment financing collateral requirements

When you take out an equipment loan, the lender often puts a lien on the equipment you purchase and may require a personal guarantee from business owners with a 20% or more stake in the company.

If your business defaults on the loan and the equipment can’t sell at a price that repays your loan balance, you’re personally responsible for paying off the remaining balance.

Where to get equipment financing

You’ve got a wide range of lending options to check out before you finance any equipment.

Specialized equipment financing companies

Some companies focus on providing equipment financing to specific industries. Some of the best specialized equipment financing companies offer low rates and fees as well as a quick online application and approval process. Plus, these lenders are experts in the equipment needs of the type of industry they support.

Manufacturer or dealer financing

Some manufacturers or dealers will have equipment financing or leasing options available, often through third-party lenders. Rates may be very favorable, and dealers often advertise promotional rates, sometimes as low as 2%.

But the most notable downside with manufacturer financing is that rates, amounts and terms will vary greatly, and you may have to contact the manufacturer or dealer directly to get hard details. Great credit is often required, and down payment requirements are common.

Banks and credit unions

A more traditional lending option, banks and credit unions are known for competitive rates in business financing. And if you have good credit and a relationship with the institution, it’s more likely that the lender will have more flexible requirements than online lenders or direct financing.

SBA lenders

The Small Business Administration (SBA) loan program offers government-backed business loans. Many of these loan programs offer equipment financing, including SBA 7(a), 504 loans, Express loans and even microloans.

The SBA sets limits on interest rates, loan amounts and terms. And if you can’t repay the loan, the government will repay up to 85% of the loan amount, so they’re a very popular choice for business financing. However, SBA loans are known to be a hassle, often taking weeks or months to apply and get funded.

Online lenders

Online lenders can include direct lenders, financial technology (fintech) companies, peer-to-peer lending platforms and lending marketplaces. These lenders are known for convenience, since most of the lending process is done entirely online: from applying and submitting documents to underwriting and funding.

If you want a hassle-free loan process, these lenders are worth looking into. However, they may not have the lowest rates, especially compared to dealerships or banks.

Equipment financing by industry

Equipment loans are often used for expensive, heavy machinery, but many industries also rely on equipment financing, such as:

• Business equipment financing
• Farming equipment
• Gym equipment financing
• Heavy equipment for construction
• Lawn equipment financing
• Medical equipment
• Restaurant equipment
• Vehicles for business use

How to apply for equipment loans

If you need equipment to run your business, such as machinery, technology or company vehicles, you can start the process of getting an equipment loan with these steps:

1. Gather your documentation. Lenders want to review paperwork like business licenses, bank statements, tax returns and other financial information about your business.
2. Determine how much you need. It’s important to shop around for different equipment options. This gives you an idea of how much funding you need, and it can help you find the best deals.
3. Check your eligibility. While qualifications vary by lender, general requirements include a good credit score, generally 600+, at least a year or two in business and around $100,000 in annual revenue.
4. Compare lenders. Once you know the equipment you want and how much capital you need, compare multiple lenders. Check out traditional lenders such as banks and credit unions, online lenders and companies that specialize in providing business equipment loans to find the best deal.

Equipment financing for startups and bad credit

Since the loan is usually secured, credit score requirements are often more flexible, and lenders may be more willing to focus on cash flow and overall revenue instead of just credit. Online lenders or lenders specializing in startup financing may be good places to start — but watch out for high rates and carefully compare providers.

Or, if you’re planning to focus on a specialized industry, you may compare loans that cater to your industry, for example, medical practice loans or dental practice loans.

Looking for more guidance?

Learn more about business financing and the best business loan options with our comprehensive business loan guide.

Frequently asked questions

• How quickly can you get funding for equipment loans?

  Many lenders advertise a turnaround time of one to two business days. Often, equipment financing can be approved or denied within the same day you apply.

• What credit score is needed to buy equipment?

  The credit score you need depends largely on the lender, but it also depends on whether you're using the asset as collateral for the loan. For example, if you're using an unsecured term loan or line of credit, you may need a good score of 670 or more. However, if the loan is secured and you're making a down payment, lenders may have more flexible credit requirements.

To make sure you get accurate and helpful information, this guide has been edited by Megan B. Shepherd as part of our fact-checking process.

Written by

Lacey Stark

Writer

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Lacey Stark is a freelance personal finance writer for Finder, specializing in banking, loans, investing, estate planning, and more. She has 20 years of experience writing and editing for magazines, newspapers, and online publications. A word nerd from childhood, Lacey officially got her start reporting on live sporting events and moved on to cover topics such as construction, technology, and travel before finding her niche in personal finance. Originally from New England, she received her bachelor’s degree from the University of Denver and completed a postgraduate journalism program at Metropolitan State University also in Denver. She currently lives in Chicagoland with her dog Chunk and likes to read and play golf. See full bio