Best equipment loans in May 2025

4.7

Bankrate Review

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Bankrate Score = 4.7/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

Loan amount

$10k-$10M

Term: 3 - 96 months

Interest rate

Hover to learn more about our interest rates.

Interest will typically be quoted as an annual percentage rate (APR), which reflects interest rate and any other charges and fees you may have to pay.

4.90- 34.00%

Fastest funding

2 business days

Read our review

on Bankrate

Disclosures

Creditfy does not perform a hard credit pull at any point in pre-approval process, but may perform a hard pull after you receive and accept your offer upon funding. Rates shown as Simple Rate or Factor Rates and not APR. Rates vary based on product, credit determination, state law/minimum loan amounts, and lender criteria. Not all applicants will qualify for financing; all financing products are subject to credit review and lender approval. 

• Pros and cons

  Pros

  • Fast funding
  • Flexible requirements
  • Large financing amounts

  Cons

  • Origination fee
  • Some loans are funded through partners Some products not available to startups

• Additional requirements

  You can apply online for equipment financing. For amounts up to $100,000, you only need an online application. Any amounts above that will require additional documentation. Approval typically only takes a few hours. Funding typically occurs between 24 to 48 hours.

  There is a 1 percent origination fee for equipment financing, but Creditfy doesn’t charge prepayment penalties.

  Business credit score:

  Hover to learn more about our business credit score.

  There are four companies that assess business credit scores: Dunn & Bradstreet (D&B), Experian, Equifax and FICO. Each calculates their own scores based on various scales. D&B and Experian rank on a 1-100 scale. FICO scores on a 0-300 scale. Equifax generates 3 separate scores based on business payment index (1-100), business credit risk (101-992), and business failure (1,000 - 1,880).

  N/A

  Personal credit score:

  Hover to learn more about our business credit score.

  A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator of the loans you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

  550

  Personal guarantee requirement?:

  Hover to learn more about our personal guarantee requirement

  This is a form of protection for lenders requiring the borrower to repay the loan from their personal assets if the business defaults. A personal guarantee can help some businesses access credit that typically wouldn't qualify.

  No

  Minimum time in business requirement:6 months

  Minimum business annual revenue:$100,000

National Funding: Best for equipment leasing

4.4

Bankrate Review

Hover to learn more about our Bankrate scores.

Bankrate Score = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

Loan amount

$5k-$500K

Term: 4 - 24 months

Interest rate

Hover to learn more about our interest rates.

Interest will typically be quoted as an annual percentage rate (APR), which reflects interest rate and any other charges and fees you may have to pay.

Factor Rates Starting at 1.10

Fastest funding

1 business day

Apply now

on partner site

Disclosures

Marketing Bullets:

• Hire new employees to support your business growth
• Flexible payment options are available
• Stock more best-selling items during your busy selling seasons
• Maintain daily operations even through gaps in cash flow
• Continue running your business seamlessly during seasonal lulls

Disclosures:

This is not a guaranteed offer of credit. Rates and terms for business credit products are subject to underwriting guidelines, may be provided by third parties, and are subject to lender approval. Approved funding amount is based on eligibility. Actual eligibility may vary. Restrictions may apply. Application is subject to approval by the lender and is based on factors such as business type, time in business, annual sales, average business bank account balances, personal credit and other variables deemed relevant by the lender. Products offered by National Funding, LLC and affiliates are business products only. In California, products are made or arranged pursuant to a California Financing Law License. License number: 603A169.

• Pros and cons

  Pros

  • Possible prepayment discount
  • No collateral on leases
  • Lowest guaranteed payment on leases

  Cons

  • Max interest rate not disclosed
  • No online prequalification tool
  • Limited information on website

• Additional requirements

  National Funding offers an online application. Once completed, a Funding Specialist will reach out and review your options. If you decide to move forward, you’ll formally apply. For equipment leasing, National Funding offers a lowest payment guarantee. If you find a lower lease payment elsewhere with comparable financing, the lender will pay you $1,000. 

  
  

  National Funding has origination fees between 1 and 3 percent. If the loan is paid off early, there is a 6 percent discount on the remaining balance. 

  Business credit score:

  Hover to learn more about our business credit score.

  There are four companies that assess business credit scores: Dunn & Bradstreet (D&B), Experian, Equifax and FICO. Each calculates their own scores based on various scales. D&B and Experian rank on a 1-100 scale. FICO scores on a 0-300 scale. Equifax generates 3 separate scores based on business payment index (1-100), business credit risk (101-992), and business failure (1,000 - 1,880).

  N/A

  Personal credit score:

  Hover to learn more about our business credit score.

  A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator of the loans you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

  660

  Personal guarantee requirement?:

  Hover to learn more about our personal guarantee requirement

  This is a form of protection for lenders requiring the borrower to repay the loan from their personal assets if the business defaults. A personal guarantee can help some businesses access credit that typically wouldn't qualify.

  Yes

  Minimum time in business requirement:6 months

  Minimum business annual revenue:$250,000

iBusiness Funding: Best for low revenue requirement

4.6

Bankrate Review

Hover to learn more about our Bankrate scores.

Bankrate Score = 4.6/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

Loan amount

$25k-$500K

Term: 6 - 84 months

Interest rate

Hover to learn more about our interest rates.

Interest will typically be quoted as an annual percentage rate (APR), which reflects interest rate and any other charges and fees you may have to pay.

Starting at 7.90% simple interest

Fastest funding

2 business days

Apply now

on BusinessLoans.com

Disclosures

Marketing Bullets:

• No prepayment penalty
• Once low-monthly payments*
• Term lengths up to 7 years*
• Fixed rates for the length of the loan
• Dedicated US based Funding Specialist

Disclosures:

*Rates, terms and maximum loan amount may vary according to the overall creditworthiness of the applicant and financing product selected. To see what your business may qualify for, apply today at no obligation. Approval and funding times may vary by lending partner and financing product selected. All loan offers and qualifications require credit approval and are subject to change with or without notice.

• Pros and cons

  Pros

  • Approvals as little as one day
  • Lower annual revenue requirement
  • Timely payments build credit

  Cons

  • Relatively high credit score requirement
  • Origination fee up to 10.49%
  • Startups aren't eligible

• Additional requirements

  To begin the application process, you can submit an online application. If you meet the lending requirements, an account manager will contact you about your loan offer. If you decide to move forward, an underwriter will review your application, and iBusiness Funding will make the final decision. 

  iBusiness Funding doesn’t charge prepayment penalties, application, maintenance or administrative fees. But, they charge an origination fee of 4.49 percent to 10.49 percent. Equipment will be used as collateral for the loan.

  Business credit score:

  Hover to learn more about our business credit score.

  There are four companies that assess business credit scores: Dunn & Bradstreet (D&B), Experian, Equifax and FICO. Each calculates their own scores based on various scales. D&B and Experian rank on a 1-100 scale. FICO scores on a 0-300 scale. Equifax generates 3 separate scores based on business payment index (1-100), business credit risk (101-992), and business failure (1,000 - 1,880).

  400

  Personal credit score:

  Hover to learn more about our business credit score.

  A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator of the loans you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

  660

  Personal guarantee requirement?:

  Hover to learn more about our personal guarantee requirement

  This is a form of protection for lenders requiring the borrower to repay the loan from their personal assets if the business defaults. A personal guarantee can help some businesses access credit that typically wouldn't qualify.

  No

  Minimum time in business requirement:2 years

  Minimum business annual revenue:$50,000

QuickBridge: Best for flexible funding

4.2

Bankrate Review

Hover to learn more about our Bankrate scores.

Bankrate Score = 4.2/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

Loan amount

$10k-$500K

Term: 4 - 24 months

Interest rate

Hover to learn more about our interest rates.

Interest will typically be quoted as an annual percentage rate (APR), which reflects interest rate and any other charges and fees you may have to pay.

Varies

Fastest funding

1 business day

Apply now

on partner site

Disclosures

Marketing Bullets:

• Finance daily business operation and have flexibility for expansion
• Access to short-term cash for immediate expenses like paying rent
• Supplement late-paying clients
• Get the funds to make improvements with renovations without impacting day-to-day cash flow
• Cash flow for inventory, materials, and marketing

Disclosures:

This is not a guaranteed offer of credit. Rates and terms for business credit products are subject to underwriting guidelines, may be provided by third parties, and are subject to lender approval. Approved funding amount is based on eligibility. Actual eligibility may vary. Restrictions may apply. Application is subject to approval by the lender and is based on factors such as business type, time in business, annual sales, average business bank account balances, personal credit and other variables deemed relevant by the lender. Products offered by QuickBridge and affiliates are business products only. In California, products are made or arranged pursuant to a California Financing Law License. License number: 603J292.

• Pros and cons

  Pros

  • Easy application process
  • Fast funding
  • Early payoff discount

  Cons

  • Not accessible to all borrowers
  • $250,000 minimum annual revenue requirement

• Additional requirements

  QuickBridge offers short-term business loans with fast funding timelines — often within 24 hours upon approval. To apply, you can fill out an application online. A Funding Specialist will then reach out to discuss your application and financing options. Repayment terms are up to 18 months, and you'll have a daily or weekly repayment schedule. QuickBridge offers an early payoff discount, and no collateral is required. 

  Loans are available in all 50 states. 

  Business credit score:

  Hover to learn more about our business credit score.

  There are four companies that assess business credit scores: Dunn & Bradstreet (D&B), Experian, Equifax and FICO. Each calculates their own scores based on various scales. D&B and Experian rank on a 1-100 scale. FICO scores on a 0-300 scale. Equifax generates 3 separate scores based on business payment index (1-100), business credit risk (101-992), and business failure (1,000 - 1,880).

  N/A

  Personal credit score:

  Hover to learn more about our business credit score.

  A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator of the loans you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

  660

  Personal guarantee requirement?:

  Hover to learn more about our personal guarantee requirement

  This is a form of protection for lenders requiring the borrower to repay the loan from their personal assets if the business defaults. A personal guarantee can help some businesses access credit that typically wouldn't qualify.

  No

  Minimum time in business requirement:6 months

  Minimum business annual revenue:$250,000

SMB Compass: Best for large amounts

4.4

Bankrate Review

Hover to learn more about our Bankrate scores.

Bankrate Score = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

Loan amount

$25k-$5M

Term: 6 - 300 months

Interest rate

Hover to learn more about our interest rates.

Interest will typically be quoted as an annual percentage rate (APR), which reflects interest rate and any other charges and fees you may have to pay.

Starting at 6.99%

Fastest funding

1 business day

Read our review

on Bankrate

Disclosures

Marketing Bullets:

• Same day funding options
• Fixed Interest rates and flexible repayment options
• Interest only solutions available
• Flexible use of funds
• Prequalify without impacting your credit

Disclosures:

SMB Compass's financing programs are not available in California.

• Pros and cons

  Pros

  • Works with most industries
  • High lending amount is $5 million
  • Terms up to 10 years

  Cons

  • Not available in every state
  • No sole proprietorships
  • Funding comes from partners

• Additional requirements

  You can apply online with SMB Compass without impacting your credit score. For questions, SMB Compass has a live chat feature on their site, or you can call 888-853-8922 to speak with a representative. SMB Compass doesn’t directly fund equipment financing, so you’ll be connected to a lending partner when seeking funding. 

  Equipment financing has a 1 to 3 percent closing fee. Funding isn’t available in the following states: CA, HI, KY, MN, NH, OH, UT and WI.

  Business credit score:

  Hover to learn more about our business credit score.

  There are four companies that assess business credit scores: Dunn & Bradstreet (D&B), Experian, Equifax and FICO. Each calculates their own scores based on various scales. D&B and Experian rank on a 1-100 scale. FICO scores on a 0-300 scale. Equifax generates 3 separate scores based on business payment index (1-100), business credit risk (101-992), and business failure (1,000 - 1,880).

  N/A

  Personal credit score:

  Hover to learn more about our business credit score.

  A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator of the loans you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

  680

  Personal guarantee requirement?:

  Hover to learn more about our personal guarantee requirement

  This is a form of protection for lenders requiring the borrower to repay the loan from their personal assets if the business defaults. A personal guarantee can help some businesses access credit that typically wouldn't qualify.

  No

  Minimum time in business requirement:6 months

  Minimum business annual revenue:$300,000

Bank of America: Best for established businesses

4.3

Bankrate Review

Hover to learn more about our Bankrate scores.

Bankrate Score = 4.3/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

Loan amount

$10k-$200K

Term: 12 - 60 months

Interest rate

Hover to learn more about our interest rates.

Interest will typically be quoted as an annual percentage rate (APR), which reflects interest rate and any other charges and fees you may have to pay.

Starting at 7.50%

Fastest funding

Not disclosed

Read our review

on Bankrate

• Pros and cons

  Pros

  • No max on loan amount
  • Physical locations
  • Free business credit score

  Cons

  • High annual revenue requirement
  • High minimum funding amount
  • Maximum interest rate not disclosed

• Additional requirements

  You can log into your account and apply directly online if you're a current Bank of America customer. If you aren’t an account holder, you’ll need to schedule an appointment with a Bank of America small business specialist. Equipment loan funding starts at $25,000, with fixed interest rates starting at 7.00 percent. Loan terms go up to five years. 

  Bank of America charges a 0.50 percent fee on top of the amount financed for equipment loans.

  Business credit score:

  Hover to learn more about our business credit score.

  There are four companies that assess business credit scores: Dunn & Bradstreet (D&B), Experian, Equifax and FICO. Each calculates their own scores based on various scales. D&B and Experian rank on a 1-100 scale. FICO scores on a 0-300 scale. Equifax generates 3 separate scores based on business payment index (1-100), business credit risk (101-992), and business failure (1,000 - 1,880).

  N/A

  Personal credit score:

  Hover to learn more about our business credit score.

  A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator of the loans you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

  700

  Personal guarantee requirement?:

  Hover to learn more about our personal guarantee requirement

  This is a form of protection for lenders requiring the borrower to repay the loan from their personal assets if the business defaults. A personal guarantee can help some businesses access credit that typically wouldn't qualify.

  No

  Minimum time in business requirement:2 years

  Minimum business annual revenue:$100,000

4.4

Bankrate Review

Hover to learn more about our Bankrate scores.

Bankrate Score = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

Loan amount

$10k-$1M

Term: 4 - 60 months

Interest rate

Hover to learn more about our interest rates.

Interest will typically be quoted as an annual percentage rate (APR), which reflects interest rate and any other charges and fees you may have to pay.

Factor rate from 1.10 - 1.36

Fastest funding

1 business day

Apply now

on BusinessLoans.com

Disclosures

Marketing Bullets:

• Application-Only Financing from $500 to $350,000
• Approvals are good for 90 days
• Concierge Experience: You’ll work with the same Taycor Finance Professional from start to finish
• Funding in as little as 24 hours

Disclosures:

Taycor Financial has been a partner to the small & medium-sized business community for nearly three decades. We provide commercial financing and leasing to buyers across North America. Taycor offers innovative financial services and products that are flexible, affordable, and tailored to our customers’ specific needs.

Irrespective of your business goal, we have a product that can help you achieve it. It doesn’t matter if it’s a business line of credit or perhaps you’re seeking to funds to buy software, machinery, equipment, a vehicle or device, we have the financial tools to help you get the job done at rates and terms that lead to a long-standing relationship with our clients.

• Pros and cons

  Pros

  • Works with startups
  • Low credit score requirement
  • No minimum annual revenue

  Cons

  • No prequalification tool online
  • Interest rates can be high
  • Origination fee

• Additional requirements

  You can apply online with Taycor Financial. For loans under $400,000, tax returns aren’t required, and the initial application only requires a soft credit pull. To contact Taycor Financial, you can call 800-322-9738. Application help is available from 10 a.m. to 7 p.m. EST, Monday through Friday. 

  Taycor Financial charges a documentation fee and may require a personal guarantee. Payments can be made monthly, quarterly or semi-annually. 

  Business credit score:

  Hover to learn more about our business credit score.

  There are four companies that assess business credit scores: Dunn & Bradstreet (D&B), Experian, Equifax and FICO. Each calculates their own scores based on various scales. D&B and Experian rank on a 1-100 scale. FICO scores on a 0-300 scale. Equifax generates 3 separate scores based on business payment index (1-100), business credit risk (101-992), and business failure (1,000 - 1,880).

  N/A

  Personal credit score:

  Hover to learn more about our business credit score.

  A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator of the loans you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

  550

  Personal guarantee requirement?:

  Hover to learn more about our personal guarantee requirement

  This is a form of protection for lenders requiring the borrower to repay the loan from their personal assets if the business defaults. A personal guarantee can help some businesses access credit that typically wouldn't qualify.

  No

  Minimum time in business requirement:3 months

  Minimum business annual revenue:$96,000

Triton Capital: Best for long preapproval period

4.4

Bankrate Review

Hover to learn more about our Bankrate scores.

Bankrate Score = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

Loan amount

$10k-$500K

Term: 12 - 60 months

Interest rate

Hover to learn more about our interest rates.

Interest will typically be quoted as an annual percentage rate (APR), which reflects interest rate and any other charges and fees you may have to pay.

Starting at 5.99% APR

Fastest funding

1 business day

Read our review

on Bankrate

Disclosures

Marketing Bullets:

• 24/7 availability, Instant estimates , Rates starting at 5.99% with 12-60 month terms
• Apply in 60 seconds, Get approved within 2 minutes, Get funded today
• We stand behind our commitment to continuously provide small businesses with low cost financing. If you find a lower payment than ours, we'll beat it or pay you $250
• We provide transparent, cost-effective equipment loans up to $250K. We’ve helped 1200+ businesses in over 175 industries acquire equipment to increase efficiency and expand operations

• Pros and cons

  Pros

  • Preapprovals good for 90 days
  • Near-instant loan estimates
  • Works with startups

  Cons

  • $150 to $750 documentation fee
  • High annual revenue requirement
  • Small max equipment loan amount

• Additional requirements

  Triton has an easy online application, or you can contact a representative at 877-822-1333 between 7 a.m. and 4 p.m. PST or emailing info@tritoncptl.com. Triton only performs a soft credit pull when applying. Payments can be made monthly, quarterly, semi-annually, annually or seasonally.

  Triton charges a documentation fee of $150 to $750. All business owners with at least a 10 percent stake in the business must be on the application.

  Business credit score:

  Hover to learn more about our business credit score.

  There are four companies that assess business credit scores: Dunn & Bradstreet (D&B), Experian, Equifax and FICO. Each calculates their own scores based on various scales. D&B and Experian rank on a 1-100 scale. FICO scores on a 0-300 scale. Equifax generates 3 separate scores based on business payment index (1-100), business credit risk (101-992), and business failure (1,000 - 1,880).

  600

  Personal credit score:

  Hover to learn more about our business credit score.

  A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator of the loans you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

  600

  Personal guarantee requirement?:

  Hover to learn more about our personal guarantee requirement

  This is a form of protection for lenders requiring the borrower to repay the loan from their personal assets if the business defaults. A personal guarantee can help some businesses access credit that typically wouldn't qualify.

  No

  Minimum time in business requirement:2 years

  Minimum business annual revenue:$350,000

SmallBusinessLoans.com: Best for personalized funding

4.4

Bankrate Review

Hover to learn more about our Bankrate scores.

Bankrate Score = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

Loan amount

$5k-$500K

Term: 3 - 24 months

Interest rate

Hover to learn more about our interest rates.

Interest will typically be quoted as an annual percentage rate (APR), which reflects interest rate and any other charges and fees you may have to pay.

8.49%+

Fastest funding

1 business day

Apply now

on partner site

• Pros and cons

  Pros

  • Low minimum annual revenue requirement
  • Variety of lending partners
  • Personalized funding options

  Cons

  • Must fill out an application to know what you qualify for
  • May not be eligible for every product
  • Limited information online

• Additional requirements

  SmallBusinessLoans.com is a loan marketplace that matches small business owners with lending partners and products, including equipment leasing and financing. Funding amounts and repayment terms will vary depending on the lender and product you're matched with, but loans go up to $500,000 and have repayment terms of up to 60 months.

  Business owners can apply online and can see funds in as little as 24 hours.

  Business credit score:

  Hover to learn more about our business credit score.

  There are four companies that assess business credit scores: Dunn & Bradstreet (D&B), Experian, Equifax and FICO. Each calculates their own scores based on various scales. D&B and Experian rank on a 1-100 scale. FICO scores on a 0-300 scale. Equifax generates 3 separate scores based on business payment index (1-100), business credit risk (101-992), and business failure (1,000 - 1,880).

  N/A

  Personal credit score:

  Hover to learn more about our business credit score.

  A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator of the loans you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

  660

  Personal guarantee requirement?:

  Hover to learn more about our personal guarantee requirement

  This is a form of protection for lenders requiring the borrower to repay the loan from their personal assets if the business defaults. A personal guarantee can help some businesses access credit that typically wouldn't qualify.

  No

  Minimum time in business requirement:6 months

  Minimum business annual revenue:$150,000