Equipment financing that keeps your cash in the business.
Trucks, ovens, excavators, imaging equipment, production lines. Finance new or used equipment over 24 to 72 months, with the equipment as the collateral, and keep working capital for payroll and inventory.
At a glance
- What it is
- An equipment loan or lease from a third-party lender, secured by the equipment itself
- Amounts
- $10,000 to $500,000+, often 100% of cost including delivery and install*
- Terms
- 24–72 months, fixed monthly payments, matched to the equipment’s useful life*
- Equipment
- New or used, from dealers or private sellers, titled or untitled
- Credit
- The asset carries weight. Low 600s financeable with many partners.
- Speed
- Decision in 24–48 hours; vendor paid 1–3 business days after signing*
Pay for equipment out of the revenue it produces.
Equipment financing is a loan or lease used to acquire a specific piece of equipment. The lender pays the vendor, you take delivery, and you make a fixed monthly payment over a term sized to how long the equipment will be in service. Because the equipment secures the financing, approval leans on the asset and your business revenue rather than on credit score or outside collateral.
That structure makes it the cheapest instrument Swyft Advance places. It is the right tool when the money buys something that lasts. For working capital with no asset behind it, a merchant cash advance or line of credit fits better.
- Fixed monthly payment, no daily or weekly debits
- Up to 100% financing, so little or no cash down*
- New or used; dealer, auction or private-party purchases
- Possible up-front tax deduction under Section 179 (US) or Capital Cost Allowance (Canada)*
Loan vs. lease
| Equipment loan | Equipment lease | |
|---|---|---|
| Who owns it | You, from day one; lender holds a lien | Lender, until the purchase option |
| End of term | Lien released, you keep it | Buy for $1 or fair market value, renew, or return |
| Monthly payment | Higher | Lower |
| Down payment | 0–20% | Often first and last payment |
| Tax treatment | Depreciate; Section 179 may apply* | Payments often deductible as expense* |
| Best for | Long-life assets you will keep | Tech that goes obsolete, frequent upgrades |
From quote to delivery in days, not weeks.
Apply online
Ten minutes. Business details, 3–4 months of bank statements and a description of the equipment. No hard credit pull to see your options.*
Send the quote
A vendor quote, invoice or listing with the price, serial or VIN, and seller details. Private-party and auction purchases are fine with documentation.
Approval and terms
Lenders review the equipment, your revenue and time in business. Most decisions in 24–48 hours. Your advisor shows you loan and lease options side by side.
Vendor paid, you take delivery
Sign, and the lender pays the seller directly, usually within 1–3 business days. Monthly payments begin 30 days later.
Four industries, four kinds of equipment.
Lenders specialize. Part of our job is matching your equipment to the partner that funds it every week.
Trucking and transportation
Semi-trucks, box trucks, trailers, reefers and dump trucks, new or used. Owner-operators and small fleets qualify; some partners work with first-time buyers who hold a CDL and have driving history. Mileage and age limits apply to used units.
Working capital for trucking companies: fuel, repairs, insurance and factoring gaps →
Restaurants and food service
Ovens, ranges, hoods, walk-in coolers, espresso machines, POS systems, dish machines, full kitchen build-outs for a second location. Equipment that moves with the business is easier to finance than fixtures bolted to a leased space.
Working capital for restaurants: payroll, inventory, repairs and slow seasons →
Construction and trades
Excavators, skid steers, loaders, lifts, compact track loaders, dump trailers, generators, and specialty tools for HVAC, plumbing, electrical and landscaping. Used machinery is common and well understood by lenders.
Working capital for contractors: payroll, materials and the wait for draws →
Medical, dental and veterinary
Imaging and diagnostic equipment, dental chairs and CAD/CAM units, lasers, lab equipment, exam room build-outs and practice management systems. Practices tend to see the longest terms and lowest rates because the equipment holds value and revenue is predictable.
Working capital for practices: payroll, supplies and the wait for reimbursements →
The equipment does part of the qualifying.
Each lender sets its own criteria, and your advisor matches your file to the ones that fund your equipment type. These are the usual guidelines.
- 1+ year in business for most programs. Startups qualify with select partners, usually with a down payment and strong owner credit.
- Revenue that supports the payment. Lenders want the monthly payment to be a small share of average monthly deposits.
- Credit in the low 600s or better for standard pricing. Lower scores are placed with a larger down payment or shorter term.
- Identifiable equipment with a quote, invoice or listing, a serial number or VIN, and a seller the lender can pay.
- A US or Canadian operating business. Existing advances are not a bar; equipment lenders look at the asset first.
What you’ll need
With these in hand, most deals under $150,000 are decided within two business days.
- Last 3–4 months of business bank statements
- Vendor quote, invoice or listing for the equipment
- Government-issued photo ID for the owner
- Voided business check or bank letter
- Over $150,000: most recent tax return, year-to-date profit and loss, and balance sheet
- Trucking: CDL and proof of insurance before funding
Cash buys one machine. Financing buys the machine and the runway.
A profitable business can usually afford to pay cash for a piece of equipment. The question is what that cash would otherwise do. Spent on an oven or a truck, it is gone for years. Kept in the account, it covers a slow month, a hiring push or a bulk inventory buy, while the equipment pays for itself monthly out of the revenue it produces.
Financing also fixes the cost. A set monthly payment is easier to plan around than a lump sum, and in a year when a Section 179 deduction applies, the tax effect can offset a meaningful part of the first year’s cost.*
- Equipment
- Commercial kitchen
- Business
- Restaurant group
- Time in business
- 4+ years
Challenge: aging kitchen equipment needed replacing before a second location opened, and the group wanted to keep its operating reserves intact for staffing and inventory.
Solution: equipment financing covered the purchase and installation of the upgraded package on one agreement, with fixed monthly payments.
Result: the new location opened on schedule, kitchen throughput improved, and the cash reserve stayed available for hiring, inventory and marketing.
Match the money to the asset.
- Choose equipment financing when the money buys a specific asset that will outlast the term. It is the lowest-cost option Swyft places.
- Choose a merchant cash advance when you need working capital fast, the use is short-term, and there is no asset to secure.
- Choose a line of credit for recurring needs, repairs and parts, where you draw and repay as you go.
- Choose Reverse Consolidation when existing advances are the problem. Fix the cash flow first; equipment lenders will like the file more afterward.
Before you sign any equipment agreement
- Know whether it is a loan or a lease, and what the end-of-term option costs.
- Get the total of payments, not just the monthly amount. Compare it to the cash price.
- Check documentation fees, first-and-last requirements, and early payoff terms.
- Confirm who insures the equipment and from what date.
- Ask whether a personal guarantee is required. On most small-business equipment deals it is.
Your Swyft advisor puts loan and lease offers side by side in plain dollars and tells you which one fits the equipment and the business.
What business owners ask before they buy.
What can equipment financing be used for?
Almost any tangible equipment a business uses to operate: trucks and trailers, commercial kitchen equipment, excavators and skid steers, dental and imaging equipment, manufacturing machinery, POS systems, salon and fitness equipment, software bundled with hardware, and more. New and used equipment from dealers or private sellers can usually be financed.
How much can I finance and for how long?
Lenders typically finance $10,000 to $500,000 and up per transaction, often covering 100% of the equipment cost with soft costs like delivery and installation included. Terms commonly run 24 to 72 months, matched to the useful life of the equipment.
Do I need good credit?
It helps with the rate, but it is not the whole decision. Because the equipment secures the financing, lenders weigh the asset, your time in business and your revenue alongside credit. Scores in the low 600s are financeable with many partners; lower scores may require a larger down payment or a shorter term.
Is this a loan or a lease, and what is the difference?
Both are available. With an equipment loan you own the equipment from day one and the lender holds a lien until it is paid. With a lease the lender owns it and you pay to use it, with a purchase option at the end, often $1 or fair market value. Loans suit equipment you will keep for years. Leases suit equipment that goes obsolete or needs regular upgrading.
Can I deduct the equipment on my taxes?
Often, yes. In the US, Section 179 and bonus depreciation can allow the cost of qualifying equipment placed in service during the tax year to be deducted up front, even when financed. In Canada, Capital Cost Allowance applies. Rules, limits and eligibility change; confirm with your accountant before counting on a deduction.
How fast can I get the equipment?
Most applications under $150,000 are decided within 24–48 hours on an application and bank statements alone. Once approved and documents are signed, the lender pays the vendor directly, usually within one to three business days. Larger or more specialized equipment can take longer.
Get the equipment working this month.
Ten-minute application, no hard credit pull to check, loan and lease options side by side.