Finance your equipment with Credible Lending

What is Equipment Financing and how does it work?

Equipment financing is a business financing option designed to help companies acquire the equipment they need to operate and grow. Whether you’re starting a new business, expanding existing operations, or replacing outdated equipment, this type of financing provides a cost-effective way to obtain the equipment you require.

How It Works:
Equipment financing allows you to borrow money to purchase the necessary equipment and repay the loan over time with interest. Depending on the lender, you may choose from various repayment terms, interest rates, and loan amounts to suit your specific needs. The equipment you purchase often serves as collateral for the loan, which can make it easier to qualify and may result in lower interest rates.

This financing option is ideal for businesses looking to acquire equipment without draining cash flow or depleting working capital.

Medical Equipment Financing

Specialized financing for the healthcare industry to ensure you have the best tools available.

Manufacturing Equipment Financing

Fast and flexible financing for acquiring essential manufacturing equipment and machines.

Construction Equipment Financing

We offer flexible financing options to acquire top-tier construction equipment.

Technology Equipment Financing

Acquire the latest technology with financing that guarantees performance and scalability.

Let’s See
if We Match

Apply now to see how much working capital your business may qualify for in just a few minutes.

All you need to qualify is:

My credit is...

My monthly sales volume is around...

$10,000

How much could I qualify for?

$18,000

Frequently Asked Questions

How do I get my equipment financed?

You’ll need excellent credit to get equipment financing. Applying through your local bank or an online financing company like Credible Lending can help you discover what kinds of business equipment loans you can qualify for.

Is it hard to get an equipment loan?

It depends on how much money you need and your qualifications. Businesses with good credit that have a good history are more likely to get equipment loans. It’s important to find out what lenders are looking for before you apply for a loan.

What's the interest rate on equipment financing?

Some equipment loans have interest rates almost as high as 10%. Businesses with poor credit are more likely to get higher interest rate loans than those with good credit. Some interest rates are as low as 2.8% and businesses with great credit and a good business history are more likely to get that rate.

How long can I finance used equipments?

You can finance equipment from two to seven years. The lender will determine if the used equipment you want to purchase is eligible for a longer or shorter term loan.

Can I use Section 179 Tax Deducation for equipment financing?

Yes, you can use the Section 179 tax deduction for equipment financing for your business. This write-off allows you to deduct the entire purchase price of the equipment you purchased in the qualifying year. A good accountant will ensure that all your expense are accounted for and deducted correctly.

Should I go with financing or leasing?

Depending upon the nature of the equipment, its useful life, and whether or not the intention is to keep it as a long-term asset, an equipment loan could make sense for a small business.

Because in some situations, a lease can cost more than a loan, many businesses choose to finance the purchase of equipment rather than lease. Additionally, the entire amount of a lease payment may not be tax deductible if your lease terms include any provision allowing you to own the equipment at the end of the lease. You’ll need to consult with your accountant or financial advisor to see if this is the case for your situation.