Equipment Financing

Loans or leases for the equipment you need.

  • Start-up or established businesses

  • New or used equipment 

  • Machinery, software, vehicles and more

  • Save cash and collateral for other uses

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Applying is free and will not affect your credit.

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12+ Months  in Business
 No Extra Collateral Needed
$50,000 in Yearly Revenue

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FAQ - Equipment Financing

What is equipment financing?

Equipment financing is a way of getting business equipment, vehicles, software, technology, and more on a monthly payment plan instead of paying the full amount up front. Equipment financing refers to the use of a loan or a lease to make these equipment purchases. This type of financing allows you to get the equipment you need now while allowing you to pay for the asset over its lifetime.

Can you finance used equipment?

Yes! In general, you can finance used equipment, though not every lenders will allow it. If you default on an equipment loan, the lender will repossess the equipment financed. Newer assets are usually easier to liquidate and have less depreciation, so lenders do sometimes prefer financing new equipment. However, the larger and more valuable the assets, the more likely it is you can finance it used.

What types of business equipment can you finance?

The types of equipment you can finance are very broad and stretches across many different industries. Here are just some of the types of equipment that is considered financeable: - construction or industrial equipment - tools and machinery - commercial kitchen appliances - office furniture - computer software for operations use - appliances for office or business use - vehicles used for transporting goods or employees

What is the difference between equipment financing and leasing?

Equipment leasing and equipment financing both allow you to access the equipment you need while paying for the asset over its lifetime. Equipment leasing lets you rent business equipment from your vendor for a monthly payment, and equipment loans allow you to fully own the asset once you have repaid your loan. The decision to lease or buy often depends on your cashflow needs, the length of time you'll use the equipment and the expected useful life of the property.

How long can I finance equipment?

Most equipment financing deals are written for 24, 36, 48 or 60 months, depending on the type of equipment and its cost. Financing terms are usually shorter for low-cost equipment or equipment that will depreciate quickly.

Are equipment loan payments tax-deductible?

In many cases, yes! If the equipment you finance qualifies for the Section 179 tax deduction, you may be able to deduct the monthly payments from your taxable income. Not all types of equipment are eligible, and there are of course IRS requirements to be followed. Please be sure to consult with your tax professional.

Why would I finance equipment?

Equipment is a major expense for small businesses like yours. Purchasing things like machinery, vehicles, furniture and technology eats away at your working capital, or uses it up completely. When you finance equipment, you get what your business needs for predictable monthly payments. Your cash stays in the bank, and lines of credit remain with available cash, to help you grow your business.

"I applied for a loan when my business was at risk of going under. I applied to various lenders and Everfund was by far the best - quick and easy." 

Jon Rogers

"I had a fabulous experience with Everfund. I had spoken with a number of other lenders with no success, but once I found Everfund I was approved in less than a week."

Leslie Steskal

"I tried getting a loan with other lenders with no success. My experience with Everfund was great - very professional and efficient. Can't thank Everfund enough."

Linda Page

"After working with Wells Fargo with no success for months, I turned to Everfund and had instant success. Thank you Everfund, I highly recommend you!"

Lisa Atteberry

Quickly Get Financing Offers from Multiple Lenders 

 Applying is free and won't impact your credit score.