How we picked
Filtered to funders specializing in equipment financing. Ranked by industry breadth, online application UX, and competitive APR ranges.
Top picks at a glance
| Lender | Best for | Amount | Speed | Min credit | Action |
|---|---|---|---|---|---|
| Currency Capital | Best online equipment financing | $10,000 – $2,000,000 | Funding in 24 – 72 hours after approval | 600+ | Apply → |
| Beacon Funding | Best for specialty equipment (food trucks, fitness, salons) | $5,000 – $1,000,000 | Funding in 1 – 5 business days | 550+ | Apply → |
| Crest Capital | Best for established merchants (24+ months, 650+ credit) | $5,000 – $1,000,000 | Approval in 4 hours; funding 1 – 3 days | 650+ | Apply → |
| Balboa Capital | Best for equipment + working capital combined | $5,000 – $250,000 | 1 – 3 business days | 600+ | Apply → |
| Direct Capital (PNC Equipment Finance) | Best bank-backed online equipment financing | $5,000 – $250,000 | 1 – 5 business days | 650+ | Apply → |
| Smarter Finance USA | Best for startup equipment (pre-revenue) | $5,000 – $250,000 | 1 – 7 business days | 550+ | Apply → |
| CIT (First Citizens) | Best for mid-market equipment ($250K+) | $25,000 – $50,000,000+ | 5 – 21 days standard | 650+ | Apply → |
Advertiser disclosure: Fundnode may earn referral fees from funders listed on this page when you apply through us. This does not affect editorial rankings — see our methodology.
Detailed reviews — our 7 picks
#1 · Best online equipment financing
Currency Capital
Max amount
$2,000,000
Cost
APR 8 – 22% (varies by equipment + credit)
Speed
Funding in 24 – 72 hours after approval
Min credit
600+
Why we picked it
Strong tech platform. Online application, fast approval. APR 8-22%. Strong in trucking, construction, manufacturing.
The strength
Equipment-specific financing with strong tech platform. Online application, fast approval. Equipment serves as collateral — lower rates than unsecured MCA equivalents. Strong industries: trucking, construction, manufacturing.
The watch-out
Equipment-only — financed funds must be used for specific equipment purchase. Equipment-as-collateral means default risks the equipment.
Qualifications
6 months
$10,000+
600+
#2 · Best for specialty equipment (food trucks, fitness, salons)
Beacon Funding
Max amount
$1,000,000
Cost
APR 8 – 25%
Speed
Funding in 1 – 5 business days
Min credit
550+
Why we picked it
Broader industry acceptance — will fund specialty equipment others decline. 550+ credit acceptable.
The strength
Equipment financing with broader industry acceptance than larger competitors. Will fund specialty equipment (food trucks, photography gear, fitness equipment, salon equipment). Lower credit threshold (550+).
The watch-out
Higher rates than bank equipment financing for prime credit. Smaller deal cap. Industry specialization can mean less depth in any single vertical.
Qualifications
12 months
$10,000+
550+
#3 · Best for established merchants (24+ months, 650+ credit)
Crest Capital
Max amount
$1,000,000
Cost
APR 7 – 22%
Speed
Approval in 4 hours; funding 1 – 3 days
Min credit
650+
Why we picked it
Approval in 4 hours, funding in 1-3 days. Strong commercial vehicle program. Section 179 friendly.
The strength
Online-first equipment financing — application to funding in 1-3 days for clean files. Strong commercial vehicle program. Section 179 tax-deduction-friendly structures.
The watch-out
Higher credit + TIB requirements (650+, 24+ months). Equipment-only. Limited to specific equipment categories.
Qualifications
24 months
$10,000+
650+
#4 · Best for equipment + working capital combined
Balboa Capital
Max amount
$250,000
Cost
Equipment APR 8 – 22%
Speed
1 – 3 business days
Min credit
600+
Why we picked it
Combined equipment + working capital from a single bank-backed lender. Section 179 friendly structures.
The strength
Strong equipment financing + working capital combined. Public-bank-backed (Bank of America subsidiary historically; now Ameris Bank). Section 179 friendly structures.
The watch-out
Equipment-only restriction on lower-rate products. Working capital pricing not always the cheapest.
Qualifications
12 months
$10,000
600+
#5 · Best bank-backed online equipment financing
Direct Capital (PNC Equipment Finance)
Max amount
$250,000
Cost
APR 8 – 20%
Speed
1 – 5 business days
Min credit
650+
Why we picked it
PNC Bank backing. APR 8-20%. Streamlined online application. Best for 650+ credit, 24+ months operating.
The strength
Originally Direct Capital, now operating as PNC Equipment Finance. Online-first equipment financing with bank backing. Fast for clean files.
The watch-out
Equipment-only. Bank underwriting standards (650+, 24+ months) stricter than alternative lenders.
Qualifications
24 months
$10,000+
650+
#6 · Best for startup equipment (pre-revenue)
Smarter Finance USA
Max amount
$250,000
Cost
APR 8 – 25%
Speed
1 – 7 business days
Min credit
550+
Why we picked it
Will fund startups and pre-revenue businesses — rare among equipment lenders. Required down payments 10-30%.
The strength
Will fund startups and pre-revenue businesses other equipment lenders won't touch. Specializes in commercial trucks, restaurant equipment, medical equipment.
The watch-out
Startup pricing higher than established-business equipment rates. Required down payments larger (10-30%).
Qualifications
0 months
Any
550+
#7 · Best for mid-market equipment ($250K+)
CIT (First Citizens)
Max amount
$50,000,000+
Cost
Equipment APR 6 – 18%
Speed
5 – 21 days standard
Min credit
650+
Why we picked it
Mid-market equipment leasing at bank rates. Healthcare, manufacturing, transportation verticals. $25K-$50M+ range.
The strength
Major commercial lender now part of First Citizens Bank after 2022 merger. Strong equipment leasing + commercial lending programs. Industry verticals: healthcare, manufacturing, transportation, energy.
The watch-out
Mid-market and up — too large for typical SMB applicant. Conservative underwriting. Lengthy approval process.
Qualifications
24 months
$25,000+
650+
Frequently asked questions
- What's the difference between equipment financing and a business loan?
- Equipment financing is secured by the equipment itself, which means lower rates than unsecured loans. The equipment serves as collateral, so default risks the equipment. Equipment loans typically allow Section 179 tax deductions for qualifying purchases.
- Can I get equipment financing with bad credit?
- Yes — Beacon Funding accepts 550+ credit, Smarter Finance USA will work with startups including pre-revenue businesses. Down payments may be required (10-30% typical) to offset credit risk. Rates 12-25% APR are common at this tier.
- What is Section 179 and how does it apply?
- Section 179 lets businesses deduct the full purchase price of qualifying equipment in the year of purchase rather than depreciating over years. 2026 limit is ~$1.16M. Crest Capital, Balboa, and most equipment lenders structure deals to be Section 179-friendly.
- Should I finance or lease equipment?
- Financing builds ownership (asset on balance sheet). Leasing typically has lower monthly payments but no ownership at end. For long-life equipment (10+ years use): financing usually wins. For tech/equipment with fast obsolescence (3-5 years): leasing often makes sense.
Related reading
Methodology. Rankings on Fundnode are editorial — we filter our database of 100 funders against the specific use case for this page, then rank by qualifying criteria (transparency, speed, contract terms, customer experience signals). We earn referral fees from some funders when merchants apply via Fundnode; ranking is independent of fee structure. Updated 2026-06-24.