No Obligation, Pre-Qualification
Equipment Financing up to $1 Million Per Asset, New or Used
Big-ticket machines, long service lives, and terms that stretch to ten years. We match your purchase with funders in our network who write at that size, used equipment included.
Large-Ticket Equipment Financing With Terms Out to 10 Years
Equipment financing spreads the cost of a machine across monthly payments, and the asset is yours outright once it is repaid. It is the standard way to buy something large without taking the whole price out of the business in a single week.
The size of the purchase is the point of this product, and the term is built to match it. Borrowing can reach $1 million for a single piece of equipment, and the repayment term can run out to ten years, which puts large purchases within reach of companies that would never write that check outright. If the asset will still be earning a decade from now, the repayment schedule should run over a similar horizon.
The sizing here is per asset, not per company. A company outfitting a shop or a fleet sizes each agreement to the equipment in front of it, up to the $1 million program maximum per purchase, rather than stretching one blanket ceiling across everything the business owns. Because the equipment itself serves as the collateral, an approval leans on what the asset is worth and what it will produce, which is how financing up to 100% of market value comes to be on the table at all.
Used equipment counts. In a lot of trades a well-maintained used machine at a fraction of the new price is the better purchase, and choosing it should not cost you access to funding. Our extensive network includes funders who write on pre-owned assets as a matter of course.
- Finance 100% of Market Value
- The Equipment Is the Collateral
- Used Equipment Qualifies Too
- Low Credit Is Acceptable
See what your business qualifies for.
One application, compared across our extensive network of funders. On average, funding is received within 2-4 business days.
Sizing a Deal That Runs to $1 Million and Ten Years
It is funding for an equipment purchase, secured by the equipment itself. Potential borrowing can reach up to $1M for each equipment piece, with flexible terms from 1 to 10 years. Typically, funds are accessible within 3 to 10 business days.
How long you plan to keep using it. If that runs beyond 36 months, equipment financing usually costs less than leasing. For shorter needs, and particularly where the equipment dates quickly, leasing is often the better call. On assets sized to a ten-year term the calculation is rarely close.
Yes, several funders in our network write specifically on used equipment. Get the condition and the valuation confirmed before you proceed, because the funder will be doing the same thing and a gap between the two slows the approval down.
A wide range, from office essentials like computers, printers and furniture through to specialized equipment for restaurants, medical facilities, workshops and fleets. If you have a specific machine in mind, name it on the application along with the quoted price, because that is what the sizing is built from. The heavier trades lean on this product hardest: construction and contracting businesses financing an excavator or a work truck, landscaping and lawn care crews buying mowers and trailers ahead of the season, and auto repair and car sales businesses putting in a lift or a diagnostic bay.
Several reasons drive this decision:
- Cash Flow Management: Businesses might not have the immediate funds to purchase equipment outright.
- Up-to-Date Equipment: Financing allows businesses to upgrade to the latest equipment without the burden of a significant upfront cost.
- Tax Benefits: Interest payments on equipment financing can often be tax-deductible.
- Ownership: Unlike leasing, financing allows businesses to own the equipment after the loan is repaid.
While there are numerous benefits, some potential drawbacks include:
- The equipment might become outdated before the loan is fully repaid.
- Depreciation might limit the tax benefits each year.
- Some financing agreements might have prepayment penalties.
That last item is worth checking before you sign rather than after. Terms differ between funders, and on a seven- or ten-year agreement the prepayment language can matter as much as the rate. We flag it as part of comparing the offers we bring you.
Approved purchases generally sit inside the following:
- Amount: up to $1 million per asset
- Term Length: 1 to 10 years
- Financed Share: up to 100% of market value
- Funding Speed: 3 to 10 business days
The sizing is per asset rather than per company, so a business outfitting a shop or a fleet runs each agreement against the equipment in front of it rather than against one blanket ceiling. Because the equipment itself is the collateral, what the asset is worth and what it will produce carry more weight in the decision than they would on an unsecured product.
If your application doesn’t get approved for equipment financing, there might be alternative financing options available. These alternatives might come with slightly higher interest rates or shorter terms but can still help you secure the equipment you need. Our extensive network of funders carries over 10 different business funding programs with approvals from $5,000 to $1,000,000, and a low credit score does not end the conversation.
The process is straightforward:
- Evaluation: Determine if leasing or purchasing suits your needs.
- Documentation: Provide necessary documents like ID, bank statements, equipment invoice, and financial records.
- Application: Complete an online form or connect with a funding specialist.
- Review: Discuss the best financing options available to you.
- Approval & Funding: Once approved, funds are transferred directly to the equipment provider.
While leasing has its advantages, financing often provides more long-term benefits, such as eventual ownership of the equipment. Additionally, financing can offer tax benefits and doesn’t tie businesses to long-term lease agreements.
Steps to Secure Business Funding with Sterling Street Financial
Submit Your Online Application
Fill out the online form. It asks what your business does, what the money is for, and what your revenue looks like. Call, chat or email if a question comes up.
Talk to Our Experts
A funding specialist reads your file and calls you with what the funders in our network sent back — the amounts, the costs and the repayment schedules.
Get Funded!
Choose the offer you want. Approved funds reach your account in as little as 24 hours, and most requests fund within 2-4 business days.
A Few Minutes to Apply
Fill out our online form and get approved quickly.
Compare Options
Both secured and unsecured loans with no personal guarantee.
Customize Terms
Choose what best suits you and your company’s needs.
Get Funded
Funds in as little as 24 hours, directly to your account.
Take your business to new heights.
Tell us the amount you are after and what your business takes in each month, and we will point your application at the programs that fit. No application fees, no obligation, and no impact on your credit score.