Best Fintech Lenders for Equipment Loans in 2026: Top Picks for SMBs

Equipment is one of the largest capital expenses a small business faces — and for many industries, it's not a nice-to-have, it's the thing that makes revenue possible. Whether you're a contractor who needs a new excavator, a restaurant owner replacing a commercial oven, or a medical practice upgrading imaging equipment, waiting months for bank approval isn't an option.

Fintech lenders have stepped in to fill the gap. In 2026, the best fintech equipment lenders can approve and fund equipment purchases in days — sometimes hours — with less paperwork and more flexibility than traditional banks. This guide breaks down the top fintech lenders for equipment financing, what to look for, and how to make the right choice for your business.

For context on the broader fintech lending landscape, see our overview of the top fintech lenders for SMBs in 2025.

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What Is Equipment Financing?

Equipment financing is a type of business loan specifically designed to purchase business equipment. The equipment itself typically serves as collateral — which is one of the reasons lenders are often more flexible on credit requirements for equipment loans than for unsecured working capital loans.

How equipment loans work:

You borrow the cost of the equipment (sometimes up to 100%), and repay the loan in fixed monthly installments over a set term. At the end of the term, you own the equipment outright. Interest rates depend on your credit profile, the type of equipment, and the lender.

Equipment loan vs. equipment lease:

With a loan, you own the equipment from day one (or after final payment, depending on structure). With a lease, you're essentially renting it — you return it at the end of the term, or pay a buyout price to keep it. Loans make more sense for equipment with long useful lives. Leases work better for technology that becomes obsolete quickly.

What equipment qualifies?

Most business equipment qualifies, including: - Construction equipment (excavators, forklifts, cranes) - Restaurant equipment (ovens, refrigeration, POS systems) - Medical and dental equipment - Manufacturing machinery - Transportation and fleet vehicles - Technology and IT hardware - Agricultural equipment

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What to Look for in a Fintech Equipment Lender

Loan-to-value ratio. Some lenders finance 80% of equipment cost; others cover 100% with no down payment required. Know your down payment budget before you shop.

Equipment types accepted. Not all lenders finance all categories. Some specialize in specific industries. Make sure your equipment type is eligible before applying.

Soft vs. hard credit pull for pre-qualification. The best lenders let you check your eligibility with a soft pull (no credit impact) before submitting a full application.

Term length. Equipment loans typically run 2–7 years. Match your term length to the useful life of the equipment — you don't want to be paying for equipment you've already replaced.

Prepayment penalties. Some lenders charge a fee for paying off early. If there's any chance you'll sell the equipment or refinance, avoid lenders with prepayment penalties.

New vs. used equipment. Most fintech lenders finance new equipment; fewer finance used. If you're buying used, confirm eligibility and check if there's an age limit on the equipment.

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Top 7 Fintech Lenders for Equipment Financing in 2026

1. Crest Capital — Best Overall for Equipment Financing

Crest Capital is a dedicated equipment financing company with a strong reputation for fast approvals and transparent pricing. They work across a wide range of equipment types and industries, with loan amounts up to $1 million and same-day approvals for smaller loans.

• Loan range: $5,000 – $1,000,000
• Term length: 2 – 7 years
• Funding speed: Same-day for loans under $250K
• Min credit score: 650
• Min time in business: 2 years
• Down payment: Often none required
• Equipment types: Most business equipment, new and used
• Best for: Established SMBs needing fast, no-hassle equipment financing across a wide range of categories

Pros: No down payment on many loans, same-day approvals, wide equipment eligibility, competitive rates
Cons: Higher credit score requirement, 2-year time-in-business minimum

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2. National Funding — Best for Low Credit Scores

National Funding's equipment financing program is one of the most accessible for business owners with less-than-perfect credit. They accept scores as low as 575 and will work with businesses as young as 6 months — making them a strong option for newer businesses or those recovering from credit challenges.

• Loan range: $5,000 – $150,000
• Term length: 2 – 5 years
• Funding speed: As fast as 24 hours
• Min credit score: 575
• Min time in business: 6 months
• Down payment: Typically none
• Equipment types: Most business equipment
• Best for: Business owners with lower credit scores who need to finance equipment quickly

Pros: Low credit score requirement, fast funding, no down payment, 6-month business history accepted
Cons: Lower loan ceiling ($150K), cost of capital higher for riskier profiles

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3. Balboa Capital — Best for New Businesses

Balboa Capital is one of the few equipment lenders willing to work with businesses that have been operating for less than a year. Their streamlined online application and fast approval process make them ideal for newer businesses that need to equip up quickly.

• Loan range: $5,000 – $250,000
• Term length: 1 – 6 years
• Funding speed: Within 1–2 business days
• Min credit score: 620
• Min time in business: As little as 1 year (startup programs available)
• Down payment: Sometimes required for startups
• Equipment types: Most business equipment
• Best for: Newer businesses and startups that can't meet the 2-year requirements most lenders demand

Pros: Startup-friendly programs, fast online application, broad equipment eligibility
Cons: May require down payment for newer businesses, rates higher for startups

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4. Taycor Financial — Best for Technology and Soft Costs

Taycor Financial specializes in equipment that includes "soft costs" — installation, training, shipping, and software — in addition to the equipment itself. This makes them especially valuable for businesses buying complex systems where the equipment price is just part of the total cost.

• Loan range: $500 – $2,000,000
• Term length: 1 – 7 years
• Funding speed: 1–3 business days
• Min credit score: 600
• Min time in business: 1 year
• Down payment: Often none
• Equipment types: Technology, medical, manufacturing, retail, and more — including soft costs
• Best for: Businesses purchasing tech systems or equipment with significant installation/training costs

Pros: Includes soft costs in financing, high loan ceiling, works with technology purchases
Cons: Slightly slower funding than some competitors, less focused on construction/fleet

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5. QuickBridge — Best for Speed

If getting the equipment fast is the priority, QuickBridge consistently funds equipment loans in 24 hours or less. Their application process is minimal and their underwriting is focused on revenue strength over credit score — making them a solid option for businesses with good cash flow but imperfect credit.

• Loan range: $10,000 – $500,000
• Term length: 3 – 18 months
• Funding speed: As fast as 24 hours
• Min credit score: 550
• Min time in business: 6 months
• Min monthly revenue: ~$15,000
• Best for: Businesses that need equipment now and can't wait days for approval and funding

Pros: Extremely fast funding, low credit score requirement, revenue-focused underwriting
Cons: Shorter repayment terms than traditional equipment lenders, higher cost of capital

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6. Currency (formerly Currency Capital) — Best for Fleet and Transportation

Currency specializes in fleet vehicles and transportation equipment — a category that many lenders approach cautiously. Their expertise in trucking, logistics, and transportation makes them a top choice for businesses building or expanding a fleet.

• Loan range: $5,000 – $2,000,000
• Term length: 1 – 7 years
• Funding speed: 1–2 business days
• Min credit score: 600
• Min time in business: 1 year
• Down payment: Varies
• Equipment types: Fleet vehicles, trucks, trailers, specialty vehicles
• Best for: Transportation companies, trucking businesses, logistics operations needing to finance vehicles

Pros: Deep expertise in fleet financing, high loan ceiling, works with specialty vehicles
Cons: Narrower equipment focus, less suitable for non-transportation industries

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7. Lendio — Best for Comparing Multiple Equipment Lenders

Just as with lines of credit, Lendio's marketplace model is powerful for equipment financing. Submit one application and receive competing offers from multiple lenders — letting you compare rates, terms, and down payment requirements side by side.

• Loan range: Varies (up to $5,000,000 through network)
• Term length: Varies by matched lender
• Funding speed: Varies by matched lender
• Min credit score: ~560
• Min time in business: 6 months
• Best for: Businesses that want to compare multiple equipment financing offers without multiple hard credit pulls

Pros: One application, multiple offers, huge lender network, free to use
Cons: You're not working with Lendio directly, quality of matched lenders varies

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Comparison Table: Top Fintech Equipment Lenders in 2026

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Industries That Benefit Most from Fintech Equipment Financing

Construction. Heavy equipment — excavators, bulldozers, cranes, and lifts — represents some of the largest equipment purchases SMBs make. Fintech lenders like Crest Capital and Currency have strong track records in construction financing.

Restaurant and food service. Commercial kitchens require expensive, specialized equipment. Restaurant owners often turn to National Funding or Balboa Capital for ovens, refrigeration units, fryers, and POS systems.

Healthcare and dental. Medical and dental equipment — imaging systems, dental chairs, diagnostic tools — often runs well into six figures. Taycor Financial's ability to include installation and training costs makes them a strong fit here.

Logistics and transportation. Fleet vehicles and trailers are Currency's specialty. Trucking companies expanding capacity or replacing aging vehicles are Currency's core customer.

Manufacturing. CNC machines, industrial presses, packaging equipment — Taycor and Crest Capital both cover manufacturing equipment well, including larger purchases in the $500K+ range.

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Equipment Loan vs. Equipment Lease: How to Decide

The right choice depends on how long you'll use the equipment, your cash position, and your tax situation.

Choose an equipment loan if: - The equipment will be useful for 5+ years - You want to build equity in the asset - You prefer predictable fixed payments - You plan to eventually sell the equipment

Choose an equipment lease if: - The equipment becomes outdated quickly (technology, medical devices) - You want lower monthly payments - You prefer to upgrade to newer equipment at the end of the term - The equipment is mission-critical but not worth owning long-term

A good equipment financing partner should be able to offer you both options and help you choose. If you're financing equipment as part of a larger business acquisition or expansion, it's also worth reading our guide on how to qualify for a fintech business loan to understand how lenders evaluate your overall financial picture.

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Frequently Asked Questions

Can I get equipment financing with bad credit? Yes. Lenders like National Funding and QuickBridge accept credit scores as low as 550–575. Because the equipment itself serves as collateral, lenders are often more lenient on credit for equipment loans than for unsecured financing. Expect higher rates in exchange for lower credit requirements.

How much can I finance for equipment through a fintech lender? Loan sizes range from $5,000 to $5 million+ depending on the lender and your qualifications. Most SMBs work in the $10,000–$500,000 range. High-value equipment purchases (aircraft, specialized industrial machinery) may require specialized lenders.

What's the difference between an equipment loan and a lease for tax purposes? With a loan, you can typically deduct depreciation under Section 179 and bonus depreciation rules — potentially deducting the full cost in the year of purchase. With a lease, payments are usually deductible as a business expense. Consult your accountant to determine which is more advantageous given your tax situation.

Do fintech lenders do a hard credit pull for equipment loans? Most fintech lenders do a soft pull for pre-qualification (no impact on your credit) and only run a hard pull when you submit a full application. Lendio's marketplace model aggregates offers with a single hard pull, reducing the total impact if you want to compare lenders.

How fast can I get equipment financing? QuickBridge and National Funding can fund in 24 hours. Crest Capital funds same-day for loans under $250K. Most fintech equipment lenders fund within 1–3 business days — significantly faster than the 2–6 weeks typical of bank equipment loans.

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The Bottom Line

For SMBs that need equipment to generate revenue, fast and flexible financing is critical. In 2026, Crest Capital leads the pack for established businesses wanting the widest equipment eligibility and competitive pricing. National Funding and QuickBridge are the best options when credit is a challenge or speed is everything. Currency is the clear winner for fleet and transportation.

Whatever your equipment need, the right lender is out there. Explore the broader picture in our guide to the best fintech lenders for SMBs, or compare with working capital loans and lines of credit to make sure equipment financing is the right tool for your situation.