Which equipment financing company is best for established small businesses?

Crest Capital is best for established small businesses. They publish rates upfront, don't hide fees behind a sales call, and applications under $250K require no financial statements. They offer loan amounts from $5K to $1M at approximately 7%–9% fixed rates, with a 650 minimum credit score and 24-hour funding. Best if you have 2+ years in business, a 650+ credit score, and want a straightforward fixed-rate loan without surprises.

Which equipment financing company is best for same-day funding?

Balboa Capital (now operating under Ameris Bank Equipment Finance) is best for same-day funding. The operation is built around speed — same-day approval decisions and funding within hours for qualified borrowers. They offer loan amounts from $50K to $500K with terms of 12–72 months and require a minimum 640 credit score. Best if you need equipment funded today and have at least a 640 credit score with one year in business.

Which equipment financing company is best for fair or bad credit?

National Funding is best for fair or bad credit borrowers. They target borrowers other lenders turn away, working with credit scores as low as 600 and funding within 24 hours. They offer loan amounts from $5K to $150K with terms of 24–60 months. Rates start at 15%+ APR using a factor rate structure. Best if you have a 600–649 credit score, need fast funding under $150K, and can't qualify with traditional equipment financing banks.

Which equipment financing company is best for businesses with strong banking relationships?

Bank of America is best for businesses with strong banking relationships. Existing BofA business customers get streamlined applications and better rate offers than cold applicants. They offer loan amounts from $25K to $750K at 4%–45% APR with a 700 minimum credit score and funding in approximately 10 business days. Best if you already bank with BofA, have strong credit, and don't need funding in under a week.

Which equipment financing company is best for large or specialized equipment?

Wells Fargo Equipment Finance is best for large or specialized equipment. They handle deals most equipment financing companies won't touch — seven-figure purchases, specialized industrial machinery, and fleet financing across dozens of sectors. They offer loan amounts from $100K to $5M+ at 5%–15% APR with a 680 minimum credit score. The $100K minimum means smaller buyers should look elsewhere. Best if you need $100K or more for specialized equipment and have 2+ years in business with solid financials.

Which equipment financing company is best for fast approvals under $350K?

Amur Equipment Finance is best for fast approvals under $350K. They earn consistent five-star Trustpilot reviews for responsive service and fast decisions, and are particularly strong for borrowers with thin credit files or newer businesses. They offer loan amounts from $5K to $350K at 7%–28% with a 580 minimum credit score and 2–5 day funding. Best if you have a 580+ credit score, run a newer business, and need a responsive lender that won't treat you like a number.

Which equipment financing company is best for micro-ticket financing under $20K?

ClickLease is best for micro-ticket financing under $20K. Traditional lenders won't bother underwriting deals under $20K, but ClickLease fills that gap. Decisions happen in minutes, the credit bar is low (520 minimum), and the process is designed for point-of-sale speed. They offer loan amounts from $500 to $20K with terms of 24–60 months. Best if you need less than $20K for equipment, have challenged credit, and need an answer right now.

Which equipment financing company is best for comparing multiple offers at once?

Lendio is best for comparing multiple offers at once. It's a marketplace that connects borrowers to 75+ equipment financing lenders through a single application. One application generates multiple competing offers without filling out ten separate forms. They accommodate loan amounts from $5K to $5M with a 550 minimum credit score and funding ranging from same-day to 2 weeks. Best if you want to comparison-shop without filling out ten separate applications and don't mind some follow-up calls.

Which equipment financing option offers the lowest long-term rates?

SBA 7(a) loans offer the lowest available rates for equipment purchases. The tradeoff is time — you're waiting weeks, not hours. Patience gets you 9%–11.5% variable rates on up to $5M with terms up to 10 years. The approval process takes 30–90 days and requires heavy documentation. Best if you have 60–90 days before you need the equipment, strong financials, and want to minimize total interest cost over the life of the loan.

What is the difference between equipment financing and equipment leasing?

Equipment financing (a loan) and equipment leasing differ in ownership structure, tax treatment, and end-of-term options. With equipment financing, you own the equipment at the end of the term, the equipment secures the loan as collateral, you can take the full Section 179 deduction in year one, monthly payments are typically higher, and the equipment is yours outright at term end. With equipment leasing, the lender owns the equipment and you return or buy it out at end of term, there is no collateral requirement since the lender retains title, lease payments may be partially deductible, monthly payments are typically lower, and you can return, renew, or purchase at residual value. If you're buying equipment you'll use for 5–10 years, financing wins — you build equity and capture the Section 179 deduction. If you're in tech, medical imaging, or any field where equipment depreciates fast, leasing keeps you current without eating a depreciation loss.

What types of equipment can you finance?

Most equipment financing companies fund both new and used equipment. Used equipment typically requires an appraisal or invoice to confirm fair market value. Soft costs — including delivery, installation, training, and extended warranties — can typically be bundled into most equipment financing loans up to 25% of the total loan amount. Eligible equipment categories include construction and heavy machinery (excavators, cranes, bulldozers, lifts), medical and dental equipment (imaging systems, exam chairs, surgical tools), restaurant and commercial kitchen equipment (ovens, refrigeration, POS systems), and technology and software (servers, workstations, SaaS licenses).

Best Equipment Financing Companies for 2026 Compared

Q: Which equipment financing company is best for flexible terms and high loan amounts?

SMB Compass is best for flexible terms and high loan amounts. They serve established businesses that need serious capital — up to $5M with terms stretching to 300 months for the right deal. Their rate floor of 6.99% is competitive for qualified borrowers, and they cover soft costs. They require a 650 minimum credit score and fund in 3–5 days. Best if you need large-scale equipment financing with custom term structures and have the credit profile to qualify for competitive rates.

Key Takeaways

82% of U.S. businesses use some form of financing when acquiring equipment, according to the Equipment Leasing & Finance Foundation’s 2024 Horizon Report, making equipment financing one of the most common capital tools in existence.
Credit score determines which lender you can access: banks like Wells Fargo and Bank of America require 680–700+, while alternative lenders like ClickLease approve scores as low as 520, with rates ranging from 5% to 40%+ depending on your tier.
Funding speed varies dramatically by lender type. ClickLease approves in minutes, Balboa Capital funds same-day, and SBA 7(a) loans take 30–90 days, so your timeline should drive your lender choice as much as your rate.
The Section 179 deduction limit increased to $2.5 million in 2026 under the One Big Beautiful Bill Act, meaning you can deduct the full purchase price of financed equipment in the year it’s placed in service, even if you’ve only made a few payments.
Soft costs, including delivery, installation, training, and extended warranties, can typically be bundled into most equipment financing loans up to 25% of the total loan amount.
100% financing with no down payment is available from lenders like Crest Capital for qualified borrowers; scores below 620 typically trigger a 10–20% down payment requirement regardless of lender.
Lendio connects borrowers to 75+ lenders through a single application, the most efficient path if you want multiple equipment financing companies competing for your deal simultaneously.

Picking the wrong equipment financing company costs you more than a bad rate. It can mean a rejected application, a six-week wait, or a loan structure that quietly kills your cash flow. The right lender depends on your industry, credit profile, and how fast you need funding. This guide compares 10+ equipment financing companies side-by-side so you can skip the research and get straight to the decision.

What Is Equipment Financing? (Quick Overview)

Equipment financing is a business loan or lease where the equipment itself serves as collateral. The lender funds the purchase, you make fixed payments over the term, and the equipment secures the debt. That means easier approvals than unsecured loans and no need to pledge other assets.

According to the Equipment Leasing & Finance Foundation’s 2024 Horizon Report, 82% of U.S. businesses use some form of financing when acquiring equipment. Equipment financing companies range from big banks to online-only lenders, and each one fits a different borrower profile.

If you’re new to equipment financing entirely, check out our complete beginner’s guide. This article focuses on one thing: helping you choose the right equipment financing company for your specific situation.

How We Evaluated These Equipment Financing Companies

Every equipment financing company on this list was assessed against the same eight criteria. No lender paid for placement. Here’s exactly what we measured:

Loan amounts: Minimum and maximum funding available
Rate transparency: Whether equipment financing companies publish rates upfront or require an application to see any numbers
Credit requirements: Minimum personal credit score and time-in-business thresholds
Funding speed: Time from application to funded, same-day to several weeks
Eligible equipment: New, used, soft costs, and industry-specific restrictions
Soft-cost coverage: Whether the lender finances installation, shipping, or software alongside hardware
Customer reputation: BBB ratings, Trustpilot scores, and verified borrower reviews
Payment flexibility: Deferred payments, seasonal schedules, step-up structures

No single lender’s own website can give you this cross-comparison. That’s the entire point of this guide: cut through the noise and match you to the right equipment financing company fast.

Best Equipment Financing Companies at a Glance

Bar chart comparing minimum credit score requirements across 10 commercial equipment financing companies in 2025

Here’s how the top equipment financing companies stack up across the metrics that matter most. Use this table to shortlist two or three lenders before reading the full breakdowns below.

Company	Best For	Loan Amount	Est. Rate	Min. Credit Score	Time to Fund	Soft Costs Covered
Crest Capital	Established businesses, transparent pricing	$5K–$500K	5%–25%	650	24 hours	Yes
Balboa Capital	Fast approvals, small businesses	$5K–$500K	6%–30%	620	Same day	Limited
National Funding	Bad credit borrowers	$5K–$150K	Factor rate	575	24–48 hours	No
Bank of America	Existing BofA business customers	$25K–$1M+	6%–12%	700	1–2 weeks	Yes
Wells Fargo	Large purchases, established companies	$100K–$5M+	6%–11%	680	1–3 weeks	Yes
Amur Equipment Finance	Startups, thin credit files	$5K–$2M	7%–28%	580	2–5 days	Limited
Lendio	Comparing multiple lenders at once	$5K–$5M	Varies	550	Same day–2 weeks	Varies
ClickLease	Micro-tickets, low-cost equipment	$500–$20K	Factor rate	No minimum	Minutes	No
SMB Compass	High-revenue businesses needing large loans	$25K–$5M	6.99%–24.99%	650	3–5 days	Yes
Nanotom Capital	Alternative funding, hard-to-finance equipment	$10K–$2M	8%–35%	560	24–72 hours	Limited

Rates vary based on credit profile, equipment type, loan term, and lender. Always request a formal quote before committing.

Top Equipment Financing Companies Reviewed

Three-column comparison of equipment financing lenders grouped by funding speed from same-day to 90 days

Crest Capital – Best for Established Small Businesses

Crest Capital is one of the most transparent equipment financing companies in the market. They publish rates upfront, don’t hide fees behind a sales call, and applications under $250K require no financial statements.

Loan Amount	Est. Rate	Min. Credit	Terms	Funding Speed
$5K–$1M	~7%–9% fixed	650	24–84 months	24 hours

Pros: Transparent pricing, A+ BBB rating, covers soft costs, no prepayment penalty on some products
Cons: Not ideal for startups, no same-day funding

Best if you… have 2+ years in business, a 650+ credit score, and want a straightforward fixed-rate loan without surprises.

Balboa Capital (Ameris Bank Equipment Finance) – Best for Same-Day Funding

Balboa Capital equipment financing now operates under Ameris Bank. The whole operation is built around speed, same-day approval decisions and funding within hours for qualified borrowers. If you need equipment this week, they’re one of the few lenders that can actually deliver.

Loan Amount	Est. Rate	Min. Credit	Terms	Funding Speed
$50K–$500K	Not disclosed	640	12–72 months	Same day

Pros: Extremely fast funding, strong for small business equipment needs, 100% financing available
Cons: Rates not published upfront, limited to $500K max

Best if you… need equipment funded today and have at least a 640 credit score with one year in business.

National Funding – Best for Fair or Bad Credit

National Funding equipment financing targets borrowers other lenders turn away. They’ll work with credit scores as low as 600 and fund within 24 hours.

The cost reflects that flexibility. Rates start at 15%+ APR using a factor rate structure, which makes the true cost harder to compare at a glance. Go in knowing that.

Loan Amount	Est. Rate	Min. Credit	Terms	Funding Speed
$5K–$150K	15%+ APR (factor rate)	600	24–60 months	24 hours

Pros: Low credit score threshold, fast approvals, minimal documentation
Cons: High rates, factor rate pricing obscures true cost, $150K cap limits larger purchases

Best if you… have a 600–649 credit score, need fast funding under $150K, and can’t qualify with traditional equipment financing banks.

Bank of America – Best for Businesses With Strong Banking Relationships

Bank of America equipment financing rewards loyalty. Existing BofA business customers get streamlined applications and better rate offers than cold applicants. Don’t expect the same treatment if you’re walking in without an existing relationship.

Loan Amount	Est. Rate	Min. Credit	Terms	Funding Speed
$25K–$750K	4%–45% APR	700	12–60 months	~10 business days

Pros: Competitive low-end rates, trusted brand, covers wide equipment categories
Cons: 2 years in business required, slow funding, 700+ credit score needed, wide rate range signals inconsistent pricing

Best if you… already bank with BofA, have strong credit, and don’t need funding in under a week.

Wells Fargo Equipment Finance – Best for Large or Specialized Equipment

Wells Fargo equipment financing handles deals most equipment financing companies won’t touch, seven-figure purchases, specialized industrial machinery, and fleet financing across dozens of sectors. The $100K minimum means smaller buyers should look elsewhere, but for large-ticket needs, they’re one of the strongest options on the market.

Loan Amount	Est. Rate	Min. Credit	Terms	Funding Speed
$100K–$5M+	5%–15% APR	680	12–84 months	1–3 weeks

Pros: Handles large-ticket deals, broad equipment eligibility, competitive rates for strong borrowers
Cons: $100K minimum excludes small purchases, slow process, relationship-driven underwriting

Best if you… need $100K or more for specialized equipment and have 2+ years in business with solid financials.

Amur Equipment Finance – Best for Fast Approvals Under $350K

Amur equipment financing earns consistent five-star Trustpilot reviews, and the feedback centers on two things: responsive service and fast decisions. They’re particularly strong for borrowers with thin credit files or newer businesses that bigger lenders won’t look at twice.

Loan Amount	Est. Rate	Min. Credit	Terms	Funding Speed
$5K–$350K	7%–28%	580	12–72 months	2–5 days

Pros: Startup-friendly, strong customer service reputation, flexible credit requirements
Cons: Rates not always disclosed upfront, $350K ceiling limits mid-market buyers

Best if you… have a 580+ credit score, run a newer business, and need a responsive lender that won’t treat you like a number.

ClickLease – Best for Micro-Ticket Financing (Under $20K)

Here’s what most guides skip: there’s a massive gap in the equipment financing market for deals under $20K. Traditional lenders won’t bother underwriting them. ClickLease fills that gap. Decisions happen in minutes, the credit bar is low, and the process is designed for point-of-sale speed.

Loan Amount	Est. Rate	Min. Credit	Terms	Funding Speed
$500–$20K	Factor rate (varies)	520	24–60 months	Minutes

Pros: No hard minimum credit score, instant decisions, great for point-of-sale financing
Cons: Small loan cap, factor rate pricing, higher effective cost than traditional loans

Best if you… need less than $20K for equipment, have challenged credit, and need an answer right now.

Lendio – Best Marketplace for Comparing Multiple Offers

Lendio isn’t a direct lender. It’s a marketplace that connects borrowers to 75+ equipment financing lenders through a single application, and that’s the whole value proposition. One application, multiple competing offers, no need to fill out ten separate forms. Working with equipment financing brokers and marketplaces like Lendio makes the most sense when you want lenders competing for your business without the legwork of applying individually.

Loan Amount	Est. Rate	Min. Credit	Terms	Funding Speed
$5K–$5M	Varies by lender	550	12–84 months	Same day–2 weeks

Pros: One application, multiple offers, wide lender network, low credit threshold
Cons: You’ll get sales calls from multiple lenders, less control over which equipment financing company reviews your file

Best if you… want to comparison-shop without filling out ten separate applications and don’t mind some follow-up calls.

SMB Compass – Best for Flexible Terms and High Loan Amounts

SMB Compass serves established businesses that need serious capital. Up to $5M with terms stretching to 300 months for the right deal, that’s a level of flexibility you don’t see from most lenders. Their rate floor of 6.99% is competitive for qualified borrowers, and they cover soft costs.

Loan Amount	Est. Rate	Min. Credit	Terms	Funding Speed
$25K–$5M	6.99%–24.99%	650	6–300 months	3–5 days

Pros: Extremely flexible terms, high loan ceiling, covers soft costs
Cons: $25K minimum, 650 credit score required, less name recognition than bank equipment financing options

Best if you… need large-scale equipment financing with custom term structures and have the credit profile to qualify for competitive rates.

SBA 7(a) Loans – Best for Lowest Long-Term Rates

SBA 7(a) loans offer the lowest available rates for equipment purchases. The tradeoff is time, you’re waiting weeks, not hours. Patience gets you 9%–11.5% variable rates on up to $5M. That’s a real spread compared to what alternative lenders charge.

Loan Amount	Est. Rate	Min. Credit	Terms	Funding Speed
Up to $5M	9%–11.5% variable	650	Up to 10 years	30–90 days

Pros: Lowest long-term rates, government-backed, long repayment terms reduce monthly payments
Cons: Slow approval process, heavy documentation, variable rate adds long-term uncertainty

Best if you… have 60–90 days before you need the equipment, strong financials, and want to minimize total interest cost over the life of the loan.

How to Choose the Right Equipment Financing Company for Your Business

Your credit score, business age, funding timeline, and equipment type narrow the field fast. Here’s exactly which equipment financing company fits each situation.

If You Have Great Credit (700+)

You qualify for the lowest rates in the market. Go to Bank of America or Wells Fargo equipment financing first; their rate floors beat almost every alternative lender. SBA 7(a) beats them both if you have 60+ days to wait.

If You Have Fair or Bad Credit (Below 650)

National Funding approves down to 600. ClickLease goes lower, 520 minimum, decisions in minutes. Expect higher rates. That’s the cost of accessible capital.

If You’re a Startup (Under 2 Years in Business)

Most equipment financing banks won’t touch you. Amur Equipment Finance and ClickLease will. Lendio’s marketplace is also worth running; one application surfaces every startup-friendly lender simultaneously. See our full guide to startup equipment financing options.

If You Need Funding Fast (Same Day or Next Day)

Balboa Capital funds same-day. Amur Equipment Finance delivers in 2–5 days. National Funding hits 24 hours consistently. Don’t apply at a bank if you need equipment this week.

If You’re Financing Large or Specialized Equipment ($500K+)

Wells Fargo equipment financing handles multi-million dollar deals across dozens of categories. SMB Compass goes to $5M with flexible terms. SBA 7(a) offers the lowest rates at scale if your timeline allows.

If You’re in a Specific Industry

Industry fit matters as much as rate. Some equipment financing companies specialize by sector, and that specialization translates to better terms and faster approvals for niche equipment. Start with the right guide:

Equipment Financing vs. Equipment Leasing: What’s the Difference?

Most equipment financing companies offer both products. Knowing which one you’re signing matters; the ownership structure, tax treatment, and end-of-term options are completely different.

Factor	Equipment Financing (Loan)	Equipment Leasing
Ownership	You own it at end of term	Lender owns it; you return or buy out
Collateral	Equipment secures the loan	No collateral; lender retains title
Section 179 Deduction	Yes; full deduction in year one	Partial; lease payments may be deductible
Monthly Payments	Typically higher	Typically lower
End-of-Term Options	Equipment is yours outright	Return, renew, or purchase at residual value
Best For	Equipment you’ll use long-term	Equipment that needs frequent upgrading

If you’re buying equipment you’ll run for 5–10 years, financing wins, you build equity, and capture the Section 179 deduction. If you’re in tech, medical imaging, or any field where equipment depreciates fast, leasing keeps you current without eating a depreciation loss.

Some equipment financing lenders structure deals with balloon payments or deferred-start options that blur the line between the two. Always confirm whether you’re signing a loan or a true lease before you execute documents.

For a deeper breakdown, read our full guide on equipment leasing vs. financing.

What Credit Score Do You Need for Equipment Financing?

Tiered infographic showing equipment financing approval odds and expected rates by credit score range from 500 to 720 plus

The honest answer is: it depends on who you’re asking. Most traditional equipment financing banks require a 680+ credit score. Alternative equipment financing companies will work with scores as low as 500–580, but expect higher rates and a 10–20% down payment requirement below 620.

Because the equipment itself serves as collateral, credit score is less determinative than it would be for an unsecured business loan. A lender can repossess and resell the asset if you default. That security loosens their credit requirements, which is why equipment financing is often more accessible than people assume. If your score is very low, it’s also worth exploring equipment financing with no credit check as a parallel path.

Credit Score Range	Likely Approval Odds	Recommended Lender Type	Expected Rate Range
720+	Excellent	Bank equipment financing (BofA, Wells Fargo)	5%–9%
680–719	Strong	Crest Capital, SMB Compass	7%–14%
640–679	Good	Balboa Capital, Amur Equipment Finance	10%–20%
600–639	Fair, down payment likely required	National Funding, Lendio marketplace	15%–28%
500–599	Limited, expect 10–20% down	ClickLease, Amur Equipment Finance	25%–40%+
Below 500	Very difficult	Secured lease with large down payment