Upgrade your business with equipment financing
Affordable financing solutions to help you invest in the equipment that powers your business
Focused & Purposeful Financing
Focusing on specific equipment simplifies underwriting, making it easier to qualify and secure funding with favorable rates and terms.
01
Easier Qualification
Equipment loans are often easier to qualify for because the equipment itself acts as collateral, and businesses with lower credit scores or limited financial history may still qualify
02
Preserves other Credit Lines
Equipment financing keeps your primary credit lines available for other business needs or emergencies.
03
Access to High-Value Equipment
Financing allows you to afford expensive equipment that might otherwise be out of reach, enabling growth and efficiency.
04
Tax Benefits
In many cases, you can deduct equipment financing costs as a business expense, potentially reducing your tax burden
Minimum requirements for Equipment Financing
1 year
in business
$100K
аnnual revenue
600
credit score
Down Payment
Some lenders may require a down payment, usually 5–20% of the equipment’s cost, although 100% financing is sometimes available.
Equipment Details
The equipment being financed must be business-related, and lenders often require a quote or invoice for the item.
Drawbacks to consider with Equipment Financing
It’s important to carefully weigh the pros and cons of an equipment financing so you can make a better-informed decision on what’s best for your business
Higher Overall Cost
Financing often includes interest and fees, making the total cost of the equipment higher than if purchased outright.
Equipment Depreciation
The equipment may lose value over time, leaving you paying for something that might become obsolete or less efficient.
Collateral Requirements
The financed equipment often serves as collateral, meaning you could lose it if you fail to meet payment obligations.
Limited Flexibility
Financing is tied to specific equipment, so funds cannot be repurposed for other business needs.
How Equipment Financing can help
With all the benifits and drawbacks of equipment financing, here are some smart ways to use one effectively
Single
equipment
SBA loans can fund the purchase of machinery, vehicles, technology, or other equipment essential for business operations.
Multiple
equipment
SBA loans can fund the purchase of machinery, vehicles, technology, or other equipment essential for business operations.
Expensive equipment
SBA loans can fund the purchase of machinery, vehicles, technology, or other equipment essential for business operations.
Single equipment
SBA loans can fund the purchase of machinery, vehicles, technology, or other equipment essential for business operations.
Multiple equipment
SBA loans can fund the purchase of machinery, vehicles, technology, or other equipment essential for business operations.
Expensive equipment
SBA loans can fund the purchase of machinery, vehicles, technology, or other equipment essential for business operations.
How it works
with LoanSwipe
Get pre-qualified for personalized, estimated loan offers from all our loan products and partner banks through secure, data-driven prompts — without needing to provide any sensitive information.
01
Get pre-underwritten for all your loan options
By completing our prompt questionnaire with non-sensitive details about your business, we’ll provide you with estimates for all our loan options. This allows you to easily compare and choose the one that best fits your needs.
02
Seamlessly apply and connect your financials
Choose the options that best meet your needs and apply for them all with a single application. Connect your financials securely through our integrated apps.
03
A single hub from start to closing
Through your account, you can monitor loan application statuses, handle closing documents, communicate with underwriters, and manage additional required actions.
Privacy at
the forefront
At LoanSwipe, we prioritize your privacy and security above all, ensuring that your personal information is always protected throughout the entire loan process.
Anonymous pre-approval
Know your approval potential without disclosing your personal or business identity. Most other platforms require sensitive information upfront to give you an answer whether you’re approved or declined
Trusted partners
We only work with banks and lenders committed to protecting your data and ensuring it is not shared or sold. Often, other brokers and lenders will share or sell your data
Targeted submissions
We match your data points with the approval criteria of trusted lenders, ensuring your application is only sent to those most likely to approve you and present the best offers
Dive deeper into
Equipment Financing
Explore our articles giving you a better understanding about Equipment Financing loans
Ready to get started?
Use our prompt questionnaire without disclosing personal information to see what loan types you can qualify for
Small and medium-sized businesses use LoanSwipe to get the financing that best suits their business by leveraging our large data sets and banking network.
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