Finance the Equipment Your Business Needs — Without Draining Cash
From commercial kitchen equipment to construction machinery, medical devices to fleet vehicles — Approvd connects you with equipment financing up to $5M with terms up to 7 years. The equipment itself serves as collateral, making approval easier than most loan products.
$10,000 – $5,000,000
2–5 Business Days
Repayment Terms
1 – 7 Years
APR From
6.5%
Minimum Requirements
Overview
What Is Equipment Financing?
Equipment financing is a specialized loan product where the equipment you're purchasing serves as the collateral for the loan. This structure makes equipment financing one of the most accessible forms of business financing — because lenders have a tangible asset securing their position, they can approve businesses that might not qualify for unsecured term loans.
The mechanics are straightforward: Approvd's lending network funds the purchase of your equipment directly, you receive the equipment immediately and begin making fixed monthly payments, and you own the equipment outright at the end of the term. Interest rates are typically lower than unsecured financing because of the collateral structure — many businesses qualify for rates between 6.5% and 18% APR.
Equipment financing is applicable to virtually any type of business equipment: restaurant and food service equipment, construction machinery and heavy vehicles, medical and dental equipment, manufacturing machinery, technology and IT infrastructure, fleet vehicles, and more. If it's a tangible asset your business uses to generate revenue, it can likely be financed.
One important advantage: equipment financing is often structured as an off-balance-sheet operating lease or an on-balance-sheet capital lease, giving your accountant flexibility in how payments are classified. Many businesses also benefit from Section 179 tax deductions on financed equipment — consult your tax advisor for your specific situation.
Why Approvd?
No impact to credit score
Simple Process
How Equipment Financing Works
Tell Us What You Need
Share the equipment type, approximate cost, and intended use. We match you with lenders who specialize in your equipment category.
Get Pre-Qualified
Our 5-minute application reviews your business financials. Equipment financing has more flexible credit requirements because the equipment secures the loan.
Review Your Offer
See exact monthly payment amounts, total cost, and term options. Your Approvd advisor walks through every line so you understand exactly what you're agreeing to.
Equipment Funded Directly
Funds go directly to the equipment vendor or dealer. You receive your equipment and begin using it to generate revenue immediately.
Key Advantages
Benefits of Equipment Financing Through Approvd
Equipment as Collateral
The asset secures the loan, meaning you don't need to pledge personal assets or other business property.
Preserve Working Capital
Finance 100% of the equipment cost while keeping your cash reserves intact for operations and emergencies.
Potential Tax Benefits
Section 179 deductions may allow you to deduct the full equipment purchase price in the year it's placed in service.
Flexible Terms
Match your repayment term to the equipment's useful life — from 1 year for technology to 7 years for heavy machinery.
Common Uses
What Can You Use Equipment Financing For?
Businesses across industries use equipment financing through Approvd to fund growth, manage cash flow, and seize opportunities.
- Restaurant kitchen equipment (ovens, refrigeration, dishwashers)
- Construction equipment (excavators, cranes, bulldozers)
- Medical and dental equipment (imaging, chairs, diagnostic tools)
- Fleet vehicles and commercial trucks
- Manufacturing machinery and CNC equipment
- IT infrastructure and server equipment
- Salon and spa equipment
- Fitness and gym equipment
Ready to Get Started?
Apply in 5 minutes. Get matched with real offers from 75+ lenders. No impact to your credit score.
Or call (516) 262-5269Common Questions
Equipment Financing FAQ
What types of equipment can be financed?
Nearly any tangible business equipment can be financed — restaurant equipment, construction machinery, medical devices, vehicles, IT equipment, manufacturing tools, and more. If your business uses it to generate revenue, it can likely be financed.
Do I own the equipment at the end of the term?
With equipment financing (as opposed to a lease), yes — you own the equipment outright once the loan is fully repaid. Some structures include a $1 buyout option if structured as a capital lease.
Can I finance used equipment?
Yes. Many lenders in our network finance used equipment, though maximum loan amounts and terms may be lower for older equipment. The lender will typically require an appraisal or equipment inspection.
What credit score do I need?
Equipment financing is more accessible than most products — many lenders in our network approve businesses with credit scores of 580+. The equipment collateral reduces lender risk significantly.
How is equipment financing different from a business term loan?
Equipment financing uses the equipment itself as collateral, typically resulting in lower rates and more accessible approval. A term loan is unsecured and can be used for any purpose but usually requires stronger credit and financial history.
Other Financing Solutions
Not sure if this is the right fit? Explore our other products.
Important Disclosure
Approvd is a loan marketplace and does not make lending decisions or issue loans directly. All loan products, rates, terms, amounts, and approval decisions are determined solely by the individual lenders in our network. Loan availability and terms vary by lender, applicant qualifications, state regulations, and other factors.
Applying through Approvd does not guarantee loan approval or any specific loan amount, rate, or term. APR and cost of capital vary widely based on loan type, lender, credit profile, revenue, time in business, and other underwriting criteria. Representative APR examples are illustrative only and do not constitute an offer or guarantee of credit.
Business loans involve risk. Carefully review all loan documents and understand your repayment obligations before accepting any offer. If you have questions about a specific loan product, consult the lender directly or seek independent financial or legal advice.
See Your Equipment Financing Options Today
Apply in 5 minutes. Real offers from 75+ lenders. Zero impact to your credit score.