Getting new equipment is key to growing your business. But finding a loan can be hard. This guide lists the 7 best equipment financing companies for U.S. businesses.
Finding a good lender is more than a low rate. You need a partner who knows your industry. Quick approval can help you win new work. This article compares top lenders, from banks to specialists. We check their strengths and who they are best for.
1. FSE - Funding Solution Experts
FSE is a finance brokerage, not a direct lender. This is a big plus for SMBs. Instead of one offer, FSE connects you to a network of over 50 lenders. You can compare offers from one application, saving time.
The platform is great for firms needing cash fast or those rejected by banks. FSE gives fast decisions, often in 24 hours. Funds can arrive in 1-2 days. This is vital for sectors like construction or trucking.
FSE gives you market access and expert help. A funding advisor guides you. They explain loan options and terms. Key benefits are many loan types, high approval rates, and up to 100% financing. This mix of speed and support makes FSE a top choice for firms that want efficiency. See https://www.fseb2b.com.
2. Ascentium Capital (a division of Regions Bank)
Ascentium Capital is a direct lender. It mixes the speed of a finance firm with a bank's stability. It's a great choice for fast approvals on equipment buys.
Their top feature is an application-only process up to $250,000. It leads to quick decisions. This is key for firms that need assets fast. They offer flexible payments, like $0 down or deferred plans. They also finance soft costs like installation. This helps save cash. They are ideal for established SMBs with good credit. Learn more at Visit Ascentium Capital.
3. Balboa Capital
Balboa Capital is a non-bank lender known for speed. It's great for SMBs that want fast funding with little paperwork.
Balboa offers high app-only limits, up to $500,000. This avoids needing lots of financial papers. Decisions can come in an hour, with same-day funding possible. This helps firms act on chances right away. The whole process is online. This adds to the speed. Balboa is best for SMBs with good credit who need fast cash. More details at Visit Balboa Capital.
4. Crest Capital
Crest Capital is an independent firm for SMBs. It's known for its simple, low-paperwork process. They offer a fast, app-only process for up to $250,000.
Decisions often come in four hours. Crest also offers working capital with an equipment loan. They finance many new and used assets. Terms are flexible. This is a great fit for small firms needing a quick, easy process for under $250,000. A two-year business history and good credit are needed. Check them out at Visit Crest Capital.
5. PEAC Solutions (formerly Marlin Leasing)
PEAC Solutions, once Marlin Leasing, is a solid choice for SMBs. It focuses on fast decisions and flexible terms. This helps firms manage cash flow.
PEAC helps young firms. They offer options like zero-down loans and deferred payments. This saves working capital. They have programs for startups up to $20,000. This is great for firms under two years old. PEAC is a good choice for new and small firms that need to watch their cash flow. For more info, go to Visit PEAC Solutions.
6. U.S. Bank Equipment Finance
U.S. Bank is a major bank offering stable financing. It's good for firms that want to work with a large, known institution.
Existing customers get an app-only option for up to $200,000. They have strong vendor finance programs. This makes buying from dealers easy. They also offer flexible payment plans, like quarterly or annual. This helps seasonal businesses. U.S. Bank is best for its current clients and firms that prefer a big bank. Explore their options at Visit U.S. Bank Equipment Finance.
7. First Citizens Bank Equipment Finance (includes former CIT capabilities)
First Citizens Bank mixes bank stability with expert lending. This mix works for many businesses. They serve small firms and large ones.
They have a clear digital process for smaller loans. It needs two years in business and a 640+ FICO score. They can fund deals up to $3 million and more. This is good for growing firms. First Citizens is a great choice for established businesses with fair to good credit. It's a partner that can scale with you. Find out more at Visit First Citizens Bank.
How to Choose
Choosing the right partner is vital. Think about your needs. Do you need speed? Or the stability of a big bank? If you want to compare many offers easily, a broker like FSE can help. They do the work for you, finding the best lender for your needs. This can save time and get you better terms.
Ready to start? Contact FSE - Funding Solution Experts to find your ideal lender. Get expert help and great offers with one application at FSE - Funding Solution Experts.