Equipment Financing

What it is

Equipment financing helps you purchase the machines, vehicles, or tools your business needs. The equipment you buy usually serves as collateral for the loan, which can make approval easier and rates more competitive.

These loans are term-based: you repay a fixed monthly payment over a set period, often tied to the useful life of the equipment. When the loan is paid off, the equipment is fully yours.

Because the equipment secures the loan, this option can work even for businesses that might not qualify for an unsecured term loan. It is a common choice for trades, restaurants, medical offices, and other businesses that rely on physical gear.

Best for

• Restaurants, contractors, medical offices, salons, and trades
• Buying machines, vehicles, or tools that hold value
• Owners who want a fixed monthly payment tied to an asset

Typical requirements

Most lenders typically look for the following. Exact criteria vary by partner.

• Time in business: many lenders accept 6 months or more
• A quote or invoice for the equipment you plan to buy
• Credit score: programs often start in the high 500s to low 600s
• Documents: a government ID, bank statements, and the equipment details

How the process works

What to expect

Equipment financing often funds within a few business days because the equipment itself reduces the lender's risk. You make a fixed monthly payment for the term of the loan. Alta matches you with lender partners; the lender sets the final rate, term, and any down payment.

Final terms, eligibility, rates, and approval decisions are made by the lender partner, not by Alta Business Loans. We do not guarantee approval or specific terms.