Equipment financing, matrix ranked

Equipment financing scored on how much of the purchase it actually covers

The equipment itself secures the loan, which is what makes this one of the more approachable financing categories on the network. We scored every lender here on how much of the purchase price they finance, how the term lines up with the equipment's useful life, and how fast the funds actually move.

Compare lenders now No hard credit pull to compare
No credit score impact
Under two minutes
Verified lender network
Manually
verified
2026
At a glance
Starting rate6.25%
Funding range$5K to $5M
Repayment terms2 to 7 years
Fastest funding2 to 5 days
Figures reflect qualified borrowers and update monthly. Last checked September 2026.
Ranked and updated monthly

This month's top rated equipment financing lenders

01 Fundivi Top Rated $10K – $5M Same Day 4.8

Runs no credit check at all and approves almost entirely on monthly revenue, with decisions landing in as little as three hours.

Strengths
  • Approval based on revenue, not a credit pull
  • Decisions typically land within three hours
  • Matches or beats a competing offer on request
Tradeoffs
  • Needs at least $30,000 in monthly revenue
  • Working capital pricing costs more than a bank loan
Loan amount
$10K – $5M
Funding speed
Same Day
Min credit
None
Monthly revenue
$30K+
Visit Fundivi
02 Fundera Marketplace Pick $2.5K – $5M 1–7 Days 3.9

Matches applicants to a curated set of partner lenders across term loans, lines of credit, SBA, equipment, and invoice financing through one soft pull application.

Strengths
  • Soft credit check only to compare offers
  • A+ BBB rating, backed by NerdWallet
  • Five loan types under one application
Tradeoffs
  • Smaller partner network than larger marketplaces
Loan amount
$2.5K – $5M
Funding speed
1–7 Days
Min credit
600
Monthly revenue
$8K+
Visit Fundera
03 SBG Funding Low Revenue Bar Pick $5K – $5M Same Day 4.1

A two minute application and a ten thousand dollar monthly revenue floor make this an accessible option for smaller businesses.

Strengths
  • Same day funding with a two minute application
  • Low $10,000 monthly revenue requirement
  • No origination fee
Tradeoffs
  • Cash advance pricing runs higher than other products
  • Larger requests may need extra documentation
Loan amount
$5K – $5M
Funding speed
Same Day
Min credit
500+
Monthly revenue
$10K+
Visit SBG Funding
04 Credibly Multi Product Pick $5K – $600K 24 Hours 4.2

Working capital, MCA, equipment and SBA products from a single lender, with approval in about four hours.

Strengths
  • Low minimum credit score of 500
  • Several financing products under one roof
  • Operating since 2010 with a track record
Tradeoffs
  • Factor rates run higher than bank pricing
  • Some products repay on a daily schedule
Loan amount
$5K – $600K
Funding speed
24 Hours
Min credit
500+
Monthly revenue
$15K+
Visit Credibly
05 Biz2Credit Largest Loan Ceiling $50K – $6M 24–72 Hours 4.2

Goes up to six million dollars through commercial real estate backed loans, the highest ceiling in this matrix.

Strengths
  • Application takes as few as four minutes
  • Access to up to $6M through secured loans
  • Includes a business credit score review
Tradeoffs
  • Larger loans need $250K plus in annual revenue
  • Underwriting fee charged at time of funding
Loan amount
$50K – $6M
Funding speed
24–72 Hours
Min credit
650
Monthly revenue
$10K+
Visit Biz2Credit
06 Kapitus Established Lender Pick $10K – $5M 24–48 Hours 4.2

Over three billion dollars funded since 2006, with term loans, credit lines, leasing and SBA options from one lender.

Strengths
  • $3B plus funded to small businesses since 2006
  • Multiple product types from one lender
  • No prepayment penalty
Tradeoffs
  • $21,000 monthly revenue requirement is high
  • Not available to businesses under 12 months old
Loan amount
$10K – $5M
Funding speed
24–48 Hours
Min credit
600+
Monthly revenue
$21K+
Visit Kapitus
07 Ameris Bank Equipment Finance Application Only Equipment $5K – $5M Same Day – 48 Hours 3.7

The equipment financing arm of Ameris Bank, offering application only funding for vehicles, machinery, and technology, with same day funding under $250,000.

Strengths
  • No tax returns or financials to apply
  • Same day funding under $250K
  • Backed by a chartered bank
Tradeoffs
  • $300K annual revenue minimum required
Loan amount
$5K – $5M
Funding speed
Same Day – 48 Hours
Min credit
620+
Monthly revenue
$5K+
Visit Ameris Bank Equipment Finance
08 National Funding Long Track Record Pick $5K – $500K 24 Hours 3.7

More than twenty five years of small business lending history and no penalty for paying a loan off early.

Strengths
  • 25 plus years of small business lending history
  • $4.5B plus funded to date
  • No prepayment penalty
Tradeoffs
  • $500K loan ceiling will not suit very large needs
  • Rates run higher than a bank product
Loan amount
$5K – $500K
Funding speed
24 Hours
Min credit
500+
Monthly revenue
$10K+
Visit National Funding
09 Live Oak Bank Top SBA Lender by Volume $50K – $15M Weeks (SBA) 4.3

The nation's largest SBA 7(a) lender by dollar volume, built for acquisitions, real estate, and large SBA transactions.

Strengths
  • Largest SBA 7(a) volume nationally
  • Dedicated business analyst on every file
  • SBA 504 up to $15M for real estate
Tradeoffs
  • No online application, requires a call
Loan amount
$50K – $15M
Funding speed
Weeks (SBA)
Min credit
680+
Monthly revenue
$100K+
Visit Live Oak Bank
10 Harvest Small Business Finance Commercial Real Estate SBA $125K – $20M 60–90+ Days (SBA) 3.7

One of only fourteen non bank lenders licensed to originate SBA 7(a) loans in house, focused on owner occupied commercial real estate.

Strengths
  • Approves SBA 7(a) loans in house
  • Averages 54 days to closing
  • 99.6% performing loan rate since 2016
Tradeoffs
  • Commercial real estate focus only
Loan amount
$125K – $20M
Funding speed
60–90+ Days (SBA)
Min credit
680+
Monthly revenue
$100K+
Visit Harvest Small Business Finance

Compare equipment financing lenders side by side

10 lenders compared on rate, speed and eligibility. Sort the matrix by what matters most to your business, or use the shortcuts below.

Lender Rating Funding speed Min monthly revenue Min credit score Actions
Fundivi
 4.8 / 5 Same Day $30K+ No minimum View more
Fundera
 3.9 / 5 1–7 Days $8K+ 600+ View more
SBG Funding
 4.1 / 5 Same Day $10K+ 500+ View more
Credibly
 4.2 / 5 24 Hours $15K+ 500+ View more
Biz2Credit
 4.2 / 5 24–72 Hours $10K+ 650+ View more
Kapitus
 4.2 / 5 24–48 Hours $21K+ 600+ View more
Ameris Bank Equipment Finance
 3.7 / 5 Same Day – 48 Hours $5K+ 620+ View more
National Funding
 3.7 / 5 24 Hours $10K+ 500+ View more
Live Oak Bank
 4.3 / 5 Weeks (SBA) $100K+ 680+ View more
Harvest Small Business Finance
 3.7 / 5 60–90+ Days (SBA) $100K+ 680+ View more

Gold badges mark the strongest figure in each column. Figures reflect published lender terms and are checked monthly. Apply directly with the lender you choose; this page connects businesses to third party lenders and does not itself underwrite or fund loans.

Reviewed by the CompareBusinessLoansOnline editorial team
Lender terms checked monthly against publicly published rates and lender disclosures. Last reviewed September 27, 2026.
10 lenders tracked Updated monthly Independent scoring
60+
Lenders reviewed and scored
100%
Of purchase price financed by some lenders
2 min
Average time to compare
In plain terms

Why equipment financing tends to be easier to qualify for

Equipment financing is a form of asset backed lending: the machine, vehicle, or hardware you are purchasing serves as the collateral for the loan itself. Because the lender can repossess and resell the equipment if payments stop, underwriting tends to lean less on personal credit and more on the equipment's value and useful life than a typical unsecured loan would. Depending on the lender and the equipment involved, financing can cover up to the full purchase price, which keeps working capital free for everything else the business needs.

How equipment financing actually works

1

Identify the equipment and get a quote

Most lenders want a vendor quote or invoice for the specific equipment being financed before underwriting starts, since the equipment's value directly shapes the loan terms.

2

The equipment itself does most of the underwriting

Because the equipment secures the loan, approval leans on its resale value and expected lifespan almost as much as it leans on your credit and revenue.

3

Funds go to the vendor, repayment tracks the equipment's life

Money is typically paid directly to the equipment seller, with a repayment term set to roughly match how long the equipment is expected to remain useful.

Cost by equipment financing type

Type
Typical rate
Best suited for
New equipment loan
6.25% to 20% APR
Purchasing new machinery, vehicles, or technology
Used equipment loan
9% to 25% APR
Buying pre owned equipment at a lower upfront cost
Equipment lease
Payments vs. ownership
Equipment that needs frequent upgrading or replacement

Match the loan term to how long the equipment will actually stay useful, not to whatever term lowers the monthly payment the most. Financing a piece of equipment over seven years when it will be obsolete in four leaves you paying down a loan on something you have already replaced.

Worth knowing

Down payment requirements vary more in equipment financing than in almost any other loan type on this network. Some lenders finance the full purchase price with no money down, while others expect ten to twenty percent upfront. That difference alone can be worth comparing before looking at the rate at all.

550+Typical minimum credit score
2 minTo compare lenders here
Up to 100%Of purchase price financed
Before you apply

What actually determines your equipment financing terms

Unlike an unsecured loan, the equipment you are financing plays as large a role in your terms as your own credit does. Understanding what lenders weigh here helps set realistic expectations before comparing offers.

01

Resale value shapes the rate more than you might expect

Equipment that holds its value well, like standard vehicles or common machinery, tends to secure better rates than highly specialized equipment with a narrow resale market.

02

New equipment financing tends to price lower than used

A newer asset with more remaining useful life represents less risk to the lender if repossession ever became necessary, which is typically reflected in the rate offered.

0% to 20%

Down payment requirements on equipment financing range from zero, meaning the full purchase price is financed, up to around twenty percent for higher risk or highly specialized equipment. That range alone can shift the total cash needed at closing by tens of thousands of dollars on a larger purchase.

Match the loan term to the equipment's useful life. A shorter term than the equipment's lifespan avoids paying interest on something already worn out.

Ask whether the loan is a true loan or a lease. Leases often come with lower payments but do not build equity toward ownership the way a loan does.

Compare down payment requirements across lenders. Some finance the full purchase price while others expect money down, which changes your upfront cash need significantly.

Check for a UCC filing or blanket lien beyond the equipment itself. Some lenders secure the loan with more than just the asset being purchased.

Why the equipment category matters

New, used, and leased equipment price very differently

The condition and category of equipment being financed shapes the rate, term, and down payment nearly as much as your own business profile does.

New equipment

Prices the lowest since resale value and remaining useful life both work in the lender’s favor. Best when the equipment is central to daily operations.

Used equipment

Costs less upfront but usually carries a higher rate and shorter term to offset the shorter remaining lifespan.

Equipment leasing

Trades ownership for lower payments and easier upgrades. Best for equipment that becomes outdated quickly.

Pick your structure

Three ways to finance equipment, compared

Buying outright, buying used, and leasing each solve a slightly different version of the same problem. The right one depends on how long you plan to actually use the equipment.

01

New equipment loan

Lowest cost over time

Financing for brand new machinery, vehicles, or technology, typically at the lowest rates in this category since the equipment holds strong resale value and a long remaining useful life.

$5K to $5MFunding range
From 6.25%Starting APR
2 to 7 yrsTypical term
02

Used equipment loan

Lower upfront cost

Financing for pre owned equipment at a lower purchase price than buying new, though typically at a somewhat higher rate and shorter term to reflect the shorter remaining lifespan.

$5K to $2MFunding range
From 9%Starting APR
2 to 5 yrsTypical term
03

Equipment lease

Most flexible

Structured as ongoing payments for the use of equipment rather than a loan toward ownership, which usually means a lower monthly cost and an easier path to upgrading equipment before it becomes outdated.

Varies by equipmentFunding range
Payment basedCost structure
1 to 5 yrsTypical term
Questions answered

What owners ask before financing equipment.

Straight answers on eligibility, down payments, and how the equipment itself factors into approval.

How is equipment financing actually different from a regular business loan?

The equipment being purchased serves as the collateral for the loan itself, rather than the loan being backed only by a personal guarantee or general business assets. That security is what allows lenders to extend financing more easily than they would for an unsecured loan, since the equipment can be repossessed and resold if payments stop. It is also why the terms are tied closely to the type and condition of the equipment rather than being a flat rate across every borrower.

Because the equipment itself secures the loan, credit requirements here tend to run lower than for unsecured financing, with some lenders working with scores as low as the mid 500s. Stronger credit still unlocks better rates and a smaller down payment requirement, but a lower score is less of a barrier to approval than it would be for a comparable unsecured business loan.

It varies by lender and by the type of equipment. Some lenders finance up to one hundred percent of the purchase price with no money down, particularly for newer, easily resold equipment. Others expect a down payment of ten to twenty percent, especially for used or highly specialized equipment where resale value is less certain. Comparing this figure across lenders is worth doing before comparing rates, since it directly affects how much cash you need at closing.

Faster than most secured financing, generally landing in the range of two to five business days once a vendor quote and basic financials are submitted. Some lenders can move even faster for equipment under a certain dollar amount, sometimes funding within twenty four hours. Larger purchases or highly specialized equipment tend to take closer to a week, since underwriting spends more time assessing resale value.

Financing structures the purchase as a loan, with the business building equity toward eventual ownership as payments are made. Leasing instead structures ongoing payments for the use of the equipment without building ownership, which typically means a lower monthly payment and an easier path to upgrading before the equipment becomes outdated. Financing tends to make more sense for equipment expected to stay useful for years, while leasing often fits equipment that changes or improves quickly.

Policies vary by lender. Some equipment loans allow early payoff with no penalty, which can meaningfully reduce total interest paid. Others build in a prepayment charge, particularly on loans with promotional or below market starting rates, to offset the interest income the lender expected to collect. Confirming the prepayment terms before signing is worth doing if there is any realistic chance the loan gets paid down ahead of schedule.

Your next move

See which equipment lenders actually fit your purchase.

Answer a few questions once and get matched against the lenders in this comparison, with no obligation to accept any offer.

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