Best Equipment Financing Companies of 2026 — Ranked & Compared
Last reviewed: May 2026 — APR (annual percentage rate) ranges and qualification criteria verified via each lender’s published rate schedules and Nav.com lender database. Affiliate relationships do not affect rankings or editorial coverage.
- Crest Capital offers the lowest non-bank APR on this list (5.5–12%) for businesses with 650+ credit and 2+ years in operation
- Balboa Capital funds same-day on loans under $75,000 with a 620 minimum credit score — fastest option when equipment downtime is costly
- SBA 504 offers the lowest long-term rates (5.5–7% fixed on the SBA debenture portion) but takes 30–90 days to fund
- National Funding accepts a 600 minimum credit score with rates up to 26% APR — accessible for early-stage businesses, but model payments carefully at the upper end
How We Selected These Lenders
Rankings are based on five dimensions: published APR transparency, credit score accessibility, funding speed, equipment type coverage, and loan amount range. Both fintech lenders and traditional bank/SBA (Small Business Administration) channels are included — because the right choice depends on your credit profile, timeline, and purchase size. No company paid to appear on this list. All rates are based on lender-published rates as of May 2026.
- APR (Annual Percentage Rate)
- The annualized cost of borrowing including interest and required fees, expressed as a percentage. Use APR to compare equipment loans across lenders — a lender quoting a lower monthly rate may have a higher APR once origination fees are included.
- Equipment Loan
- A fixed-term loan secured by the equipment itself. The lender holds a lien on the equipment until you pay off the loan; at payoff, you own the equipment outright. Distinct from a lease, where the lender retains ownership throughout the term.
- SBA 504 (SBA's Fixed-Asset Financing Program)
- The SBA's fixed-asset financing program for real estate and heavy equipment. Offers the lowest rates available (5.5–7% on the SBA debenture portion) but takes 30–90 days to fund and requires a three-party structure with a Certified Development Company.
- Loan-to-Value (LTV) Ratio
- The loan amount divided by the equipment's appraised value. A $90,000 loan on $100,000 of equipment is 90% LTV. Higher LTV means more financing but also higher rate risk for the lender, which may increase your rate.
Quick Comparison — Best Equipment Financing 2026
| Company | Good For | Industry / Equipment | APR Range | Min. Credit | Max. Loan | Funding Time | Best For | Action |
|---|---|---|---|---|---|---|---|---|
 Crest Capital |
Established businesses, 650+ credit | Most commercial equipment | 5.5–12% | 650 | $1,000,000 | 2–5 days | Established businesses, best rates | Apply |
 Currency Capital |
Large purchases, multiple asset types | Construction, transportation, manufacturing, medical, tech, restaurant | 5.99–14% | 640 | $2,000,000 | 2–3 days | Large purchases, multiple asset types | Apply |
 Balboa Capital |
Same-day funding needs | Most commercial equipment | 6–18% | 620 | $500,000 | Same Day | Speed | Apply |
 National Funding |
Credit scores 600–640 | Most commercial equipment | 7–26% | 600 | $400,000 | 24 hours | Below-average credit | Apply |
 Taycor Financial |
Startups, used equipment | Transportation, construction; startups & used equipment | 6–20% | 580 | $2,000,000 | 2–3 days | Startups and challenged credit | Apply |
 SBA 7(a) |
Lowest rate, large purchases (680+ credit) | Most equipment & working capital; broad use | 9.5–12% | 680+ | $5,000,000 | 30–90 days | Lowest rate on large purchases | Learn More |
| SBA 504 |
Heavy equipment + real property | Fixed assets — heavy equipment & real property | 5.5–7% | 680+ | $5,500,000 | 30–90 days | Real property + equipment | Learn More |
Rates verified May 2026. Your rate depends on credit score, time in business, equipment type, and loan-to-value ratio. We may earn a referral fee when you apply through our links.
Crest Capital offers 5.5–12% APR for businesses with 650+ credit — a 7-percentage-point spread vs. National Funding's 14% on the same $150,000 excavator saves ~$31,000 in total interest over a 60-month term.
FundingCompass research, May 2026
Lender Profiles
Crest Capital — Best Overall for Established Businesses
APR range: 5.5–12% Min. credit score: 650 Min. time in business: 2 years Max. loan: $1,000,000 Equipment types: Most commercial equipment (not real estate) Funding time: 2–5 business days
Crest Capital consistently offers the most competitive rates among non-bank equipment lenders for borrowers with credit scores of 650+. The application process is straightforward: equipment invoice, 3 months of bank statements, and a simple online application. Crest does not publicly disclose rates — you must apply to receive a rate — but verified borrower data confirms the 5.5–12% range for qualified applicants.
Rate note: Crest’s best rates (5.5–7%) require 700+ credit score, 3+ years in business, and equipment with strong resale value. Expect 9–12% for scores in the 650–680 range.
Best for: Businesses with 2+ years in operation and 650+ credit score seeking the lowest non-bank rate available. Not ideal for: Startups, credit scores below 650, or borrowers needing same-day funding.
Currency Capital — Best for Large Purchases and Multiple Asset Types
APR range: 5.99–14% Min. credit score: 640 Min. time in business: 2 years Max. loan: $2,000,000 Equipment types: Construction, transportation, manufacturing, medical, technology, restaurant Funding time: 2–3 business days
Currency Capital’s $2,000,000 maximum loan and broad asset coverage make it the strongest fintech option for mid-market equipment purchases. It covers a wider range of equipment categories than most competitors, including used equipment up to 15 years old on certain asset classes.
Best for: Businesses purchasing $250,000–$2,000,000 of equipment across multiple asset types. Not ideal for: Borrowers with credit below 640 or businesses under 2 years old.
Balboa Capital — Best for Speed
APR range: 6–18% Min. credit score: 620 Min. time in business: 1 year Max. loan: $500,000 Equipment types: Most commercial equipment Funding time: Same day (in many cases)
Balboa Capital’s principal differentiator is speed: same-day approval and funding is available for loans under $75,000 with straightforward documentation. The rate range (6–18%) is wide — lower-credit borrowers will land at the high end. For businesses where equipment downtime is costly (construction, logistics), same-day availability may justify the premium.
Best for: Businesses needing funds within 24 hours for amounts under $200,000. Not ideal for: Borrowers prioritising lowest rate over speed.
National Funding — Best for Credit Scores 600–640
APR range: 7–26% Min. credit score: 600 Min. time in business: 6 months Max. loan: $400,000 Equipment types: Most commercial equipment Funding time: 24 hours
National Funding’s 600 minimum credit score threshold and 6-month time-in-business requirement make it one of the more accessible options for early-stage businesses and borrowers with challenged credit. The rate ceiling of 26% is high — model your monthly payment carefully at the upper end before accepting an offer.
Best for: Businesses with 600–640 credit scores that don’t qualify at Crest or Currency Capital. Not ideal for: Borrowers with 650+ credit (better options available at lower cost).
Taycor Financial — Best for Startups and Challenged Credit
APR range: 6–20% Min. credit score: 550 (case by case below) Min. time in business: None (startup programs available) Max. loan: $2,000,000 Equipment types: Most commercial equipment; specialises in transportation and construction Funding time: 2–3 business days
Taycor is one of the few equipment financing lenders with an explicit startup program. New businesses can qualify for up to $50,000 with a 20% down payment and strong personal credit (650+). Established businesses with credit below 600 can access higher amounts with appropriate collateral. Taycor also finances used equipment and older asset vintages more readily than most competitors.
Best for: Startups, businesses with credit below 600, and buyers of used or older equipment. Not ideal for: Borrowers with 650+ credit who qualify for lower rates elsewhere.
Bank and SBA Channels — Best Rates, Longest Timeline
APR range: 9.5–12% (SBA 7(a)); ~5.5–7% fixed (SBA 504) Min. credit score: 680+ Min. time in business: 2 years typically Funding time: 30–90 days
For borrowers with strong credit (680+) who can wait 30–90 days, the SBA (Small Business Administration) loan programs offer the lowest rates available on equipment lending. The 504 program is particularly attractive for purchases that include real property alongside equipment (e.g., a manufacturing facility with machinery).
SBA 7(a) vs. SBA 504:
- 7(a): More flexible use of funds; can finance equipment, operating capital, and refinancing in a single loan. Maximum $5M.
- 504: Lower rate; specifically for fixed assets (equipment and real estate). Requires a Certified Development Company (CDC) as an intermediary. Maximum $5.5M on equipment portion.
Best for: Established businesses (2+ years, 680+ credit) buying $150,000+ of equipment and able to wait on funding. Not ideal for: Urgent purchases, startup businesses, credit below 680.
Choosing the Right Lender — Decision Framework
If your credit score is 680+ and you can wait 30+ days: SBA 7(a) or SBA 504 for the lowest rate. Find an SBA-preferred lender for faster SBA processing.
If your credit score is 650–679 and you need funding in a week: Crest Capital or Currency Capital. Both offer rates competitive with SBA on this credit profile with far shorter timelines.
If your credit score is 600–649: National Funding or Balboa Capital. Accept that you’ll pay a premium for now; refinancing when credit improves is an option after 12–18 months of on-time payments.
If you’re a startup (under 1 year) with good personal credit: Taycor Financial’s startup program, with a 20% down payment expectation.
If you need funding today: Balboa Capital (same-day for amounts under $75,000).
Borrower Example
For a credit score of 660, Crest Capital at 7% saves ~$31,000 in interest versus National Funding over the loan term. Rates depend on credit score, collateral, and term length.
Scenario: Construction company, $150,000 excavator, 660 credit score, 3 years in business
Lender: Crest Capital vs. National Funding
- Amount financed: $150,000 (60-month term)
- Crest Capital at 7% APR: monthly payment ~$2,970; total interest ~$28,200
- National Funding at 14% APR: monthly payment ~$3,489; total interest ~$59,340
- Effective APR difference: 7 percentage points — saves ~$31,000 in total interest over the loan term
Frequently Asked Questions
What credit score do I need for equipment financing?
Most fintech equipment lenders start at 580–620. The best rates (below 8% APR) generally require 650+. For SBA programs, 680+ is typically required. Your personal credit score is checked alongside your business credit for loans under $250,000; for larger amounts, lenders look at both in depth.
Can I finance used equipment?
Yes. Most equipment financing lenders fund used equipment up to 10–15 years old (asset class dependent). Used equipment typically qualifies for 80–90% LTV versus 90–100% for new, and rates on used equipment are 1–3% higher. Some lenders (Taycor, Currency Capital) are more flexible on equipment age than others.
Is a down payment required?
Not always. For equipment with strong resale values (trucks, CNC machines, certain construction equipment), many lenders offer 100% financing. For specialised or rapidly depreciating equipment, 10–20% down is common. Startups are typically required to put 20% down regardless of equipment type.
How long are equipment financing terms?
Terms range from 24 to 84 months, depending on equipment type and lender. Longer terms reduce monthly payments but increase total interest paid. Match the term to the useful life of the equipment — financing a 3-year-useful-life asset on a 7-year term creates negative equity risk.
Can I pay off equipment financing early?
This depends on the lender. Some (particularly bank lenders) charge prepayment penalties of 1–5% of the remaining balance. Fintech lenders are more likely to allow penalty-free prepayment. Confirm the prepayment policy in writing before signing — and run the numbers if you plan to sell the equipment before the loan term ends.
What happens if I default on an equipment loan?
The lender repossesses the financed equipment — this is the primary security for the loan. In most cases, the lender cannot pursue your other business or personal assets (unlike a personal guarantee on an unsecured loan). However, equipment loans often include a personal guarantee clause, which does expose personal assets. Read your agreement carefully for personal guarantee language.