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Discover the best financing solutions tailored to your equipment needs.

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Dive into Equipment Financing Solutions

Jack P.

Funding Advisor

Considering a significant equipment upgrade but worried about the upfront costs? Our tailored equipment financing solutions offer manageable monthly payments, allowing you to own the equipment once fully paid.

Borrow up to 100% of Market Value

Asset is Used as Collateral

Easy & Quick Approval Process

Low Credit is Acceptable

Understanding Equipment Financing

This financing model empowers businesses to secure funds for essential equipment purchases. Potential borrowing can reach up to $5M for each equipment piece, with flexible terms from 1 to 10 years. Typically, funds are accessible within 3 to 10 business days.

The duration you intend to utilize the equipment is crucial. If your usage extends beyond 36 months, equipment financing might be more cost-effective than leasing. However, for short-term needs, especially when the equipment might become outdated quickly, leasing might be a better option.

Yes, there are financing options available specifically for used equipment. It’s essential to ensure the equipment’s condition and value before proceeding.

A wide variety of equipment can be financed, ranging from office essentials like computers, printers, and furniture to specialized equipment for restaurants, medical facilities, and more. If you have specific equipment in mind, it’s best to inquire directly.

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  • The equipment might become outdated before the loan is fully repaid.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.

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.

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 financing expert.
  • 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

1. Submit Your Online Application

Use our user-friendly platform to quickly request funding. Assistance is just a call, chat, or email away.

2. Talk to Our Experts

Our seasoned experts are ready to guide you through every step, ensuring you are armed with all the necessary information.

3. Get Funded!

After approval, funds are swiftly deposited into your account to boost your business growth.

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