How long does it take to get equipment financing?

REIL Capital can fund equipment financing in as few as 5 business days from completed application. The timeline depends on how quickly you submit required documents (business bank statements, equipment invoice or quote, and basic business information). Simple approvals for well-qualified applicants can close even faster.

What types of equipment can be financed?

Nearly any business equipment can be financed, including construction machinery (excavators, loaders, cranes), commercial vehicles and trucks, medical and dental equipment, restaurant and kitchen equipment, HVAC systems, manufacturing machinery, technology and IT infrastructure, agricultural equipment, and salon or spa equipment. Both new and used equipment qualify.

What is the difference between equipment financing and equipment leasing?

With equipment financing (a loan), you own the equipment at the end of the repayment term and can deduct depreciation and interest on your taxes. With equipment leasing, you pay to use the equipment for a set period and typically return it or buy it at fair market value when the lease ends. Financing is better for equipment you plan to keep long-term. Leasing is better for technology or equipment that becomes obsolete quickly.

Can I finance used equipment?

Yes. REIL Capital finances both new and used equipment. Used equipment financing is based on the current fair market value and condition of the equipment. Used equipment from reputable manufacturers in good working condition typically qualifies for competitive rates. An equipment appraisal may be required for high-value used assets.

Are there tax benefits to equipment financing?

Yes. Under IRS Section 179, businesses can deduct the full purchase price of qualifying equipment financed during the tax year, up to the annual limit ($1,160,000 for 2023). You may also be able to deduct the interest paid on your equipment loan as a business expense. Consult your tax advisor for details specific to your situation.

Equipment Financing: Up to $5 Million to Buy, Upgrade, or Replace Business Equipment

Get the equipment your business needs without paying the full cost upfront. REIL Capital provides equipment financing from $10,000 to $5,000,000 with rates starting at 6%, funding in as few as 5 business days, and an 85% approval rate. The equipment is your collateral -- no additional assets required.

With an 85% approval rate, what are you waiting for?

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Access Up to $5,000,000

Finance equipment ranging from a single $10,000 commercial oven to a full $5 million fleet of construction machinery. Flexible loan amounts matched to your exact equipment needs.

Funded in as Few as 5 Business Days

Our streamlined approval process eliminates weeks of waiting. Receive a decision within 24 hours and get funded in as few as 5 business days.

The Equipment Is Your Collateral

No additional collateral requirements, lower interest rates, and easier qualification -- even for business owners with credit scores as low as 500.

Why Businesses Choose REIL Capital for Equipment Financing

Thousands of business owners have come to rely on REIL Capital for their equipment financing needs. Why? We deliver fast funding, maintain high approval rates, and offer clear terms—benefits that traditional banks just don't provide.

Equipment financing is specifically crafted to assist businesses in purchasing, upgrading, or replacing equipment and machinery. Instead of dealing with the full cost upfront, you can spread the expense over a fixed term, usually spanning 1 to 7 years, with steady monthly payments. The loan is secured by the equipment itself.

What qualifies for this type of financing? Just about any equipment integral to business operations. Think construction machinery, commercial vehicles and trucks, medical and dental equipment, restaurant and kitchen gear, HVAC systems, manufacturing machinery, tech and IT infrastructure, agricultural tools, and even salon or spa equipment. Both new and pre-owned equipment are eligible.

Benefits of REIL Capital Equipment Financing

Swift Access to Capital

Our streamlined application and approval process eliminates the weeks of back-and-forth typical of traditional bank financing. From application to funding in as few as 5 business days, so you can acquire equipment when the opportunity is right.

Transparent Terms, No Hidden Fees

Every equipment financing agreement includes a clear term sheet that spells out your rate, payment amount, total cost, and repayment schedule. No origination fees hidden in the fine print. No prepayment penalties on most programs.

Preserve Cash Flow

Equipment financing spreads the cost of major purchases over 1 to 7 years instead of requiring a lump sum. This preserves your working capital for payroll, inventory, marketing, and other operating expenses that keep the business running.

How to Get Equipment Financing with REIL Capital

Complete our online application. Fill out the form in under 5 minutes with basic business information, equipment type and cost, and contact details.
Review and sign your application and e-documents. After submitting, receive your application documents electronically, review for accuracy, and sign digitally.
Receive your funds. Once approved and documents are complete, funds are disbursed in as few as 5 business days -- directly to your equipment vendor or your business account.

Equipment Financing Requirements

FICO score of 500 or higher. The equipment serves as collateral, so credit requirements are lower than unsecured loans. A no-credit-check option is available for equipment with strong resale value.
Business in operation for at least 6 months. We require a minimum operating history to evaluate business stability and revenue trends.
Annual revenue of $250,000 or more. Revenue demonstrates your ability to service the loan payments alongside existing business expenses.

Equipment Financing: Frequently Asked Questions

Equipment financing is a type of business loan used to purchase, lease, upgrade, or replace equipment and machinery needed for operations. The equipment itself serves as collateral, which reduces lender risk and often results in lower interest rates and easier approval compared to unsecured loans. It is commonly used in construction, trucking, healthcare, restaurants, manufacturing, and HVAC industries. Equipment financing conserves your working capital while giving you access to the tools your business needs to operate and grow.

You apply for a loan amount that covers the cost of the equipment you need. Once approved, REIL Capital provides the funds to purchase or lease the equipment. The equipment itself acts as collateral for the loan, which means no additional assets are required to secure financing. You then repay the loan over a fixed term -- typically 1 to 7 years -- with predictable monthly payments. At the end of the term, you own the equipment outright and can continue using it, sell it, or trade it in.

REIL Capital requires a minimum FICO score of 500 for equipment financing. Because the equipment serves as collateral, credit requirements are often lower than unsecured business loans. Businesses with credit scores below 500 may still qualify through our no-credit-check equipment financing program, where approval is based on the value and condition of the equipment being financed rather than the borrower's credit history.

Equipment financing rates at REIL Capital start at 6%. Your final rate depends on your credit score, time in business, annual revenue, and the type and condition of equipment being financed. New equipment from established brands typically qualifies for lower rates than used or specialized machinery. Business owners with FICO scores above 680 and 2+ years in business generally receive the most competitive rates.

No credit check equipment financing is a program where approval is based primarily on the value and condition of the equipment rather than the borrower's credit history. This option works well for business owners who have strong revenue but lower personal credit scores, or for those financing high-value equipment that retains its worth. The equipment's resale value and the business's revenue are the primary factors in the approval decision.

Equipment financing helps you get essential gear without draining your working capital. How does it stack up? Check out how it compares to other business financing products like bridge loans, lines of credit, and SBA funding.

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Equipment Financing with Bad Credit

If your credit score is less than stellar, don't worry; you can still secure the equipment your business requires. Equipment financing with bad credit remains an option because the equipment itself acts as collateral, which helps ease the lender's concerns.

How Bad Credit Equipment Financing Works

Unlike unsecured loans that live and die by your credit score, equipment loans are backed by the asset you're buying. This makes it possible for lenders to say "yes" even if your credit score hovers around 500.

What to Expect

Higher interest rates — you'll likely see rates between 8-25%, influenced by your credit score and the kind of equipment
Larger down payments — prepare for 10-20% down, compared to $0 down if your credit's strong
Newer equipment preferred — lenders have a soft spot for equipment with good resale value
Shorter terms — expect 2-5 year terms, especially if you're considered a higher risk

Reil Capital partners with borrowers across the credit spectrum. Instead of just fixating on your FICO score, we evaluate your business's revenue, how long you've been operating, and the value of the equipment.

No Credit Check Equipment Financing

No credit check equipment financing takes a different route for approvals, focusing on alternative underwriting methods. Rather than pulling a traditional credit report, it looks at things like your bank statements, how long you’ve been in business, and your revenue history.

Who Qualifies

Businesses with more than 6 months of operating history
Monthly revenue of at least $10,000
Equipment with clear resale or operational value
No ongoing bankruptcies (past bankruptcies that are discharged might be okay)

Types of Equipment Funded Without Credit Checks

No-credit-check programs often fund items like heavy equipment, commercial vehicles, restaurant gear, medical devices, construction machinery, and manufacturing equipment. Usually, you can get up to $500,000, though it often depends on the equipment type and your business revenue.

Why wait? Apply with Reil Capital and get a decision fast — most applications are reviewed within just 24 hours.

Heavy Equipment Financing

Heavy equipment financing is a game-changer for construction companies, mining operations, agriculture businesses, and logistics firms looking to get their hands on excavators, bulldozers, cranes, tractors, and other costly machinery without shelling out huge amounts upfront.

Financing Options for Heavy Equipment

Equipment loans — once the loan term concludes, you own the equipment completely
Equipment leases — enjoy lower monthly payments and the flexibility to purchase, return, or upgrade when the lease wraps up
Sale-leaseback — sell your existing equipment to free up cash, then lease it back to keep using it

What Reil Capital Finances

We can fund heavy equipment transactions up to $5M. This includes excavators, loaders, dozers, cranes, dump trucks, concrete equipment, paving machines, drilling rigs, and more. Both new and used equipment are eligible. Our financing terms range from 2 to 7 years, and you'll find our rates competitive.

Equipment Leasing vs Buying

Deciding whether to lease or buy equipment hinges on a few key factors: the duration of use, depreciation rate, and your company's cash flow strategy. Both leasing and purchasing have their perks, and businesses often mix and match these options based on their needs.

When to Buy Equipment

Long useful life — Consider buying if you'll use the equipment for 5-15 years or more, like CNC machines, commercial ovens, or heavy construction gear.
Slow depreciation — Opt for purchase when the assets retain value well and boast strong resale markets.
Tax advantages — Leverage Section 179 deductions and bonus depreciation to write off the entire purchase in the acquisition year.
Equity building — Owned equipment reflects as an asset on your balance sheet and can serve as collateral for future loans.

When to Lease Equipment

Rapid technology change — Lease items like POS systems, medical imaging, and IT equipment that become outdated within 3-5 years.
Cash flow preservation — Lower monthly payments help you allocate capital to other critical business needs.
Seasonal or project-based use — If the equipment is needed for a specific contract or short-term project, leasing is ideal.
Testing before committing — Want to try out new equipment or capacity levels before buying? Leasing lets you do that.

REIL Capital provides both equipment financing and leasing options. Our advisors are ready to guide you in evaluating the total cost of ownership versus leasing. This way, you can decide on the path that aligns best with your cash flow and growth strategies.

Equipment Financing for Startups

Equipment financing for startups is often easier to secure than many new entrepreneurs think. Why? The equipment itself acts as collateral, reducing lender risk. This means that even startups without lengthy track records can still get their hands on the machinery, vehicles, or technology they need to get going.

Why Startups Qualify for Equipment Loans

Here's the thing: equipment financing is asset-backed, unlike unsecured business loans that hinge solely on revenue history and credit scores. If a startup fails to pay, the lender has the option to reclaim the equipment. Because of this built-in safety net, approval is more about the equipment's value and your business plan than how long you've been up and running.

What Startup Equipment Lenders Look For

Equipment with strong resale value — Think commercial vehicles, medical devices, construction machinery, or restaurant equipment. These tend to hold their value and are easier for lenders to back.
Personal credit score — For businesses in their first couple of years, the owner's credit score (typically 620+) is often more influential.
Business plan or contracts — Got signed contracts, letters of intent, or a clear revenue forecast? These can give your application a nice boost.
Down payment — A commitment of 10-20% down can show you're serious and help lessen the lender's risk.

Startup-Friendly Financing Options

Equipment leases can often be the quickest route for startups. They require less money upfront and come with lower monthly payments than traditional loans. But don't overlook SBA 7(a) loans either. They offer competitive rates for qualifying startups eager to buy equipment. With Reil Capital, even businesses as young as 6 months can explore their options. Apply online and find out what you might qualify for.

Used Equipment Financing

Opting for used or refurbished equipment can slash your business costs by 30-60% compared to buying new. The great news? You can get financing for pre-owned equipment just as you would for brand-new items. For many sectors, used equipment offers the same operational effectiveness but at a significantly reduced price.

Industries Where Used Equipment Makes Sense

Construction — Excavators, loaders, and dozers from the past 5-10 years still have a long service life ahead
Restaurants — Commercial ovens, refrigeration units, and prep tools from recently closed establishments are often sold at 40-60% below retail
Trucking — Certified pre-owned trucks with 200K-400K miles are a common starting point for new owner-operators
Manufacturing — CNC machines, lathes, and presses keep their precision well beyond their initial ownership
Healthcare — Refurbished medical imaging and diagnostic devices meet the same regulatory standards as new equipment

How Used Equipment Appraisal Affects Your Terms

Here's the thing: Lenders determine financing terms based on the current fair market value of the equipment, not what it originally cost. An independent appraisal or the equipment's orderly liquidation value (OLV) sets your loan ceiling — usually 80-100% of the appraised value. Equipment in solid condition from trusted dealers or manufacturers tends to get the best rates.

Reil Capital offers financing for both new and used equipment up to $5 million. Just provide your equipment details with your application, and we'll give you a funding estimate in no more than 24 hours.

Equipment Financing Calculator: How to Estimate Your Payments

Before diving into equipment financing, it's key to figure out your estimated monthly payment. Doing this helps you manage your budget and weigh your options across various lenders.

The Basic Equipment Loan Formula

Monthly payment = Loan Amount × [Rate × (1 + Rate)^Term] / [(1 + Rate)^Term - 1]. In this formula, Rate is your monthly interest rate (annual rate ÷ 12), and Term represents the total number of monthly payments. So, what does this look like in action?

Equipment Cost	Down Payment	Loan Amount	Rate (APR)	Term	Monthly Payment
$25,000	$0	$25,000	10%	3 years	~$807
$100,000	$10,000	$90,000	8%	5 years	~$1,824
$500,000	$50,000	$450,000	7%	7 years	~$6,804

Factors That Affect Your Rate

Credit score — A score above 700 often lands you the best rates, while 500-650 might bump your APR by 5-10%.
Equipment type — Standard business equipment generally scores better rates compared to niche or specialty items.
New vs. used — New equipment usually attracts lower rates, thanks to its higher value as collateral.
Down payment — A 10-20% down payment can lower your rate and trim down your monthly bill.

Looking for a tailored quote based on your equipment and credit details? Try our funding calculator or apply online to get a personalized rate from Reil Capital.