Equipment Financing
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How Do You Qualify for Business Equipment Financing?
4+ Months in Business
We fund all businesses, from the most ancient, to those taking their adolescent steps.
$10K Monthly Gross Sales
Focusing on your profitability rather than your history, trust National to match you with the right lender for your goals.
No Minimum Credit Score
You don’t need squeaky clean credit to qualify for a small business loan—we work with all credit profiles.
What Is Equipment Financing?- How Do You Qualify for Business Equipment Financing?
- Equipment Financing Benefits
- How Can Business Equipment Financing Help You?
- How to Apply for Equipment Financing With National
- Why Choose National Business Capital for Equipment Financing?
What Is Equipment Financing?
What Is Equipment Financing?
Regardless of your industry, we can help you obtain the best deal on business equipment financing for virtually every type of equipment. We work with a wide range of business types, including medical, software, manufacturing, commerce, food services, automotive, and much more.
If you’re looking for equipment financing to grow your business, offer new products or services, or simply get a competitive edge, we can help! Our streamlined equipment financing process will help you secure the capital you need in as little as 24 hours. Our Business Financing Advisors will tell you everything you need to know and give you the opportunity to ask any questions.
All of our business equipment financing options are fully customizable to fit you and your business needs.
How Do You Qualify for Business Equipment Financing?
How Do You Qualify for Business Equipment Financing?
In order to qualify for business equipment financing, you’ll need at least 4 months in business and $10,000+ in monthly gross sales. This is different from our other financing requirements because time in business plays less of a role for this specific financing product.
While banks and credit unions have low approval rates, National offers enormous flexibility when it comes to qualifying for equipment financing.
Our 75+ lender marketplace makes it easier than ever to find the most competitive equipment financing offer you qualify for. Rather than apply to lenders individually, you with us apply once, receive multiple options, and select the one that best fits your needs alongside expert guidance from our Business Finance Advisors.
Equipment Financing Benefits
Equipment Financing Benefits
The benefits of business equipment financing involve being able to quickly acquire equipment with minimal upfront fees and manageable payments. This can improve your cash flow, balance sheets, and even features certain tax advantages. Business equipment financing is a strategic way to boost your productivity without an enormous upfront investment.
1. Improved cash flow
Business equipment financing allows you to acquire the equipment you need now – and manage the costs later on. There’s no need to make a large, lump-sum payment to cover the entire price upfront. Instead, the cost of the equipment will be broken down into more manageable payments – which will be easier on your cash flow.
2. Greater productivity
Business equipment financing gives you a head start on boosting your productivity. You’ll be able to put your plans to action now and make payments as your business grows.
3. Enhanced forecasting
There are no surprises when it comes to business equipment financing. Your payments will stay steady over time and you’ll know exactly how much you’ll be paying for how long. The interest rate you’ll receive will also be locked in for the duration of your loan. With exact figures in mind, you’ll be able to effectively forecast your business’s cash flow.
4. Potential tax advantages
Business equipment financing may allow you to claim additional deductions on your annual tax return. Make sure to contact your tax advisor to learn about the specifics, including how much you could possibly save.
5. Flexibility
You have complete freedom to choose your vendor and the type of equipment you’d like to purchase. Unlike some banks, National doesn’t impose restrictions on the type of equipment you can finance – as long as it makes sense for your business it’s a good fit!
Start growing your business right away. Learn how you can skip the standard 2 week waiting period and get new or used equipment financing in less than 24 hours.
How Can Business Equipment Financing Help You?
How Can Business Equipment Financing Help You?
Equipment financing removes the price barrier from reaching your full potential. Almost every business leverages equipment of some kind to meet their goals, but not every entrepreneur can afford this expense, especially if they’re a new business or they’ve invested their profits back into the business. With equipment financing, you can break down the sizable purchase into manageable monthly payments and, more importantly, start using your equipment to outpace your competition.
Business Growth
Purchase any type of equipment to take on more customers and grow your business.
Business Expenses
Avoid large, out-of-pocket expenses by preserving your capital—and write off the entire cost on your tax return.
Business Opportunities
Deliver more value to your customers by upgrading old equipment or adding new equipment.
How to Apply for Equipment Financing With National
How to Apply for Equipment Financing With National
Start growing your business right away. Learn how you can skip the standard 2 week waiting period and get your new or
used equipment financing in under 24 hours!
Why Choose National Business Capital for Equipment Financing?
Why Choose National Business Capital for Equipment Financing?
Better Terms. Faster Funding. Easier Process.
Accelerate your success with frictionless financing and expert advice that breaks down the barriers to growth for every entrepreneur. Thrive with access to a business lending marketplace that’s built for entrepreneurs, by entrepreneurs.
Experience a time-saving machine that cuts approval times from months to hours. Leverage an extensive network of over 75 lenders and teams of expert financing advisors to ensure you’ll always have access to the capital that best
fits your business.
Working with NBC, gain a financing partner for the future, ensuring your business has the capital it needs to seize every opportunity and grow without limits.
National Business Capital. Grow to Greatness.
How It Works
You’re only a few clicks away from the capital you need to reach your full potential.
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1.Apply Securely Within Minutes
Move through our streamlined application within minutes and upload your business documents with zero risk.
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2.Review Your Offers
Compare your offers with expert advice from our team and select the best one for your specific circumstances.
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3.Get Funded
With your money in hand, you can take advantage of opportunities and tackle challenges with confidence.
Equipment Financing FAQs
How does equipment financing work?
Business equipment financing is a type of loan used to purchase equipment for your business. You’ll be able to select the type of equipment and the vendor you want to work with, as well as other details. You’ll present this information with your financing application.
If you’re approved, you’ll be granted a lump sum of capital to be put towards purchasing the equipment. From there, you’ll make regular payments for the duration of your loan – typically up to 5 years. You may even be able to customize certain terms and conditions to your business’s needs. With National, the entire funding process can be as quick as 3 days or less.
Some lenders may impose restrictions on the types of business equipment you can finance – but not National. Whether it’s a new model or previously used, so long as it makes sense for your business, there shouldn’t be an issue. You can use business equipment financing to cover a number of different business-related equipment. This includes machinery, vehicles, office supplies, computer hardware or software systems, commercial ovens, manufacturing materials, and more.
Is it hard to get financed for equipment?
It’s not very hard to get business equipment financing. In fact, in many cases, it’s actually easier to get approved for business equipment financing than other types of loans. All you need to qualify is a FICO score of at least 650 – or 6 months of business history and at least $120,000 in annual revenue. If your FICO score is above 650, you may be able to bypass time in business and annual revenue requirements entirely.
With business equipment financing, the materials you’re purchasing will act as collateral for the loan. This gives lenders an extra layer of security – which in turn improves your approval odds.
National has business equipment financing options for all types of businesses, and you’ll find it’s easier to get approved compared to traditional banks. Plus, the application process is fast and straightforward. There’s no need to go back and forth collecting numerous documents. You can simply upload your paperwork into the online portal with just a few clicks. National’s application process for business equipment financing is designed to be completed in about a minute. Funding times for your loan can be as fast as 3 days or less.
How long can you finance used equipment?
You’ll typically be able to finance used equipment for 1 to 5 years. If the equipment you are purchasing isn’t too expensive, you may be able to get a shorter-term loan.
The repayment term on your business equipment loan is important because it represents how long you’ll be in debt as well as the overall cost of financing. Longer-term loans feature lower monthly payments but can be more expensive over the loan’s lifetime. Shorter-term loans have higher monthly payments, but you’ll be in debt for less time and save on interest fees overall.
Still, many businesses will select a repayment term based on the monthly payment amount they can afford. Make sure to consult with one of our Business Financing Advisors to help you understand which would work best for your scenario.
Can I get startup equipment financing with bad credit?
Yes! It is possible to secure startup equipment financing even with bad credit. You’ll need to have at least 6 months of business history and $120,000 in annual revenue in order to bypass credit score requirements.
National fills in the gaps where banks and traditional financing options fall short – especially when it comes to financing startups. With a FICO score requirement of at least 650, National is inherently more flexible. But even if your credit score is lower than 650, you may still be able to access financing solutions catered to your needs.
10 Reasons Why National Business Capital Offers the Best Small Business Financing
 | Bank | Direct Lenders | |
|---|---|---|---|
Paperwork |
| Bank
| Direct Lenders
|
Application |
| Bank
| Direct Lenders
|
Number of Lenders | 75+ | Bank 1 | Direct Lenders 1 |
Service Level | Business Advisor | Bank Processor | Direct Lenders Programmatic |
Approval Process | Hours/Days | Bank Weeks/Months | Direct Lenders Days/Weeks |
Speed to Funding | Hours/Days | Bank Months | Direct Lenders Days/Weeks |
Collateral Requirements | Not Necessary | Bank Always | Direct Lenders Sometimes Required |
Business Profitability | Not Necessary | Bank Last 2 Years | Direct Lenders Sometimes Required |
Credit Score | No Minimum FICO | Bank 680+ FICO | Direct Lenders 600+ FICO |
Credit Check | Soft Pull | Bank Hard Pull | Direct Lenders Hard Pull |
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