Crestcapital

What is equipment financing, and how does it help small businesses?

Equipment financing is a specialized loan or lease that lets you acquire equipment, vehicles, or software with payments spread over time. For small businesses, this approach preserves working capital, minimizes large upfront costs, and can unlock tax advantages (such as Section 179). Ultimately, it helps you scale your business without depleting cash reserves.

Which types of equipment can I finance (technology, vehicles, machinery)?

You can finance nearly any business-critical asset, from heavy construction machinery to specialized software solutions. Both new and used equipment typically qualify, offering flexibility for businesses across various industries.

How does the equipment financing process work (step-by-step)?

Most applications are processed within a day or less. A typical 4-step approach: 1) Apply online using a simple one-page form, 2) Receive a same-day decision on amounts up to $250,000, 3) Sign documents electronically for minimal paperwork, 4) The lender pays the vendor, letting you use the equipment immediately.

What credit score do I need to qualify for equipment financing?

A credit score of 650 is the minimum most equipment financing lenders typically require. Since this is business financing and not consumer financing, credit score is just one factor in the approval process. Other important qualifications include: 1) At least 2 years of business operations under current ownership, 2) Previous borrowing history, 3) The type and value of equipment being financed.

What are the benefits of financing equipment instead of paying cash?

The four main benefits of equipment financing over cash purchase are: 1) Preserves working capital for growth and daily operations, 2) Provides predictable monthly payments instead of large cash outlays, 3) Offers potential tax advantages through Section 179 deductions, and 4) Allows immediate equipment use while the revenue it generates helps offset payments.

What’s the difference between equipment leasing and equipment financing?

Equipment leasing grants you usage rights with lower monthly costs but no ownership until end-of-term purchase options. Equipment financing gives you full ownership from day one, typically with fixed payments and Section 179 tax benefits.

Can I finance used or refurbished equipment with Crest Capital?

Yes. Crest Capital finances both new and used equipment, including pre-owned and refurbished assets. Typical age limits are up to 10 years, though eligibility varies by equipment type.

How quickly can I get approved for an equipment loan (same-day approval)?

For amounts under $250,000, Crest Capital can often provide same-day approval, sometimes within a few hours. Larger requests usually get a decision within 24–48 hours.