• Equipment Financing: How Does It Work?

    Quick & easy loans within 3 hours*

    As featured in

    "Become (formerly Lending Express) sees tremendous potential for SMB lending outside of traditional banks. Amirav estimates that a mere 1% of the $1 trillion in total SMB loans -- or $10 billion -- is offered by alternative lenders like Lending Club and On Deck."

    "Through focus and careful prioritization, you'll achieve your higher-level goals faster, opening up new windows of opportunity."

    "Become (formerly Lending Express) is fundamentally changing the nature of business lending and empowering SMEs with the tools they need to get their ventures off the ground."

    "Become (formerly Lending Express) is now the largest business of its kind in Australia – even though they only set foot on the continent a month ago. "

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Important to Know

What is Commercial Equipment Financing?

Small business equipment loans are a specific type of business funding intended to assist in covering the costs of buying or leasing machines or tools used for professional purposes.

Unlike other types of business loans, business equipment loans often do not require the applicant to secure the loan with valuable assets, since the machinery typically acts as its own collateral.


Customer Testimonials

  • Quick and Simple

    Very stress-less and quick process. They were extremely attentive - other places were just not listening. Best customer service I have received

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  • Efficient process

    The process was pretty good! It met my expectations with its service and speed.

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  • Self-explanatory

    The process was easy. Everything was self-explanatory and understandable. I didn't have any problems from start to funding.

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  • Everything was good

    Everything was good! I will for sure return for repeated business.

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  • Pretty easy overall

    It was very straight forward, no complaints and a quick approval process.

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  • Great company

    Everything was great. Thanks for the help.

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  • Very transparent process

    It was a quick and simple process, very easy and transparent.

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  • The website was great!

    The website was great! The staff was great! They always kept in contact with me and made sure that I had everything I needed!

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  • 5 out of 5

    The process was fast and very easy. I didn't encounter any problems from the beginning of the application to when I was funded.

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  • Very, very smooth

    It was a completely smooth process from the beginning to the end. I signed up and was funded within the day. Couldn't ask for anything more.

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How It Works

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Funds in as little as 3 hours
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More About Business Equipment Financing

Whether you’re considering purchasing or leasing equipment for your company, a business equipment loan provides the flexibility that business owners need in order to obtain the optimal financing solution for them.


Business Equipment Loan Rates


Important note: Lenders will take a careful look over your business’s financial profile before approving a loan. Companies that have stronger credit scores, higher monthly revenues, less existing debt, and so on, will have access to better equipment loan rates.


Basic points to consider when applying for business equipment financing:

  1. Whether purchasing or leasing is better
  2. The devaluation rate of the equipment


Business Equipment Loan: Quick Facts*


Credit Score Business Age Monthly RevenueFinancing SpeedLoan Term  


*Note: these figures are the minimum figures across all of our lending partners.


Top 5 Benefits of Business Equipment Loans:


  1. Use it to purchase or lease
  2. Low credit scores may still qualify
  3. Equipment acts as its own collateral
  4. Quick application process
  5. Young business may still qualify


More loan products


Business equipment financing can be used for virtually any piece of machinery that is intended to be used in practically any industry. Perhaps you want to revamp the kitchen in your restaurant, maybe you need a new air compressor for your dental practice, or you could be thinking about leasing a cement mixer for your construction business. Whatever the purpose is, small business equipment loans can help you meet your expenses.


Pros and Cons of Business Equipment Financing




No additional collateral necessary

Easy to qualify

Fast access to funds

🗙 Equipment devalues quickly

🗙 Often requires a down payment

🗙 Still incurs some interest




How Commercial Equipment Loans Work

Each business owner that is preparing to apply for an equipment loan will have different needs and a different LendingScore™. A business’s LendingScore™ is a cumulative score that reflects the chances of getting approved for funding; the different factors that are measured include a business’s age, credit score, monthly revenue, existing debt, and many more.

Fortunately, Become has dozens of the top lending partners in its network from all across the USA and Australia, each of which offers different products and has different requirements to qualify. With Become’s unique Matchscore™ technology, businesses are paired together with the loan providers that are the optimal fit for their needs and financial profile.

That means when businesses apply for equipment financing through Become, they have the benefit of having a wide selection of loan options that they may qualify for. Small business equipment loan terms can range from 7 months to 10 years. Equipment loan repayments are generally made monthly, but some loan providers do have weekly or bi-weekly repayment schedules. Plus, business equipment loans generally don’t require any collateral in order to qualify.


Bottom line: Businesses that have stronger funding factors (credit score, business age, monthly revenue, etc.) will ultimately have access to better equipment financing options than businesses that have weaker funding factors. That’s one of the reasons why LendingScore™ is such a helpful tool for business owners seeking to obtain equipment loans, since it also illustrates to applicants how they can improve the specific factors that are holding them back from getting funded!


Who can benefit from business equipment loans?

Simply put, any company that wants or needs a new piece of equipment in order to improve or grow can make good use of equipment financing. Though businesses that have certain traits have even more reason to use equipment loans, including:

✔ Businesses that aren’t able to provide collateral

✔ Businesses looking for fast access to funding

✔ Businesses in need of flexible equipment financing options


Credit Score Requirements for Business Equipment Loans

Across all of the loan providers available through Become, the minimum credit score requirement for business equipment financing is 450 (FICO). That being said, there isn’t any ‘one-size-fits-all’ answer to provide when it comes to the question of credit score requirements.


For business owners who aren’t sure about applying for equipment financing because of a weak credit score, there’s no need to hesitate! If your business has a low credit score, Become has funding solutions that can even help to improve your credit score.


Why Become?

Boost your chances of obtaining business equipment financing with Become! By using advanced algorithms, your business’s financial profile will be quickly and accurately assessed in order to provide tailored guidance on how to improve your funding odds.


No more wishy-washy tips and tricks - get a personalized touch along with a dedicated service that won’t quit until you get funded!


Add to that the fact that lenders compete in order to provide you with the best funding option and it starts to become clear just how helpful Become proves itself to be for small business owners in need of financing.


See if I qualify

(the application won’t impact your credit score!)


How to Apply for Business Equipment Financing

Step-by-step guide for applying for business equipment financing:

  1. Choose your desired loan amount and select ‘Get Loan Offer’
  2. Fill in the requested information (including time in the industry, revenue, business, etc.)
  3. Submit your business’s checking account information for analysis
  4. Wait for offers. You can also review your status by clicking ‘Access Your Loan Application’
  5. Review offers and select your preferred lender
  6. Receive the funds to your business checking account
  7. Review your tailored LendingScore™ dashboard to improve your funding options
  8. Improve your rates - if your LendingScore™ is insufficient, follow the personalized plan (8-12 weeks to unlock funding)


Apply today


Don’t think a business equipment loan is the right financing option for you?


More loan products


Do you still have questions and want to speak with one of our representatives? Feel free to reach out to us and we’d be happy to provide the answers!


Contact us:

USA & Australia

phone: 838-800-0664

email: support@become.co

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