Equipment Financing
Equipment financing lets you acquire the trucks, machinery, technology, or tools your business needs while spreading the cost over time. The equipment itself typically serves as collateral, which can make approval more accessible than unsecured products.
Best uses
- Trucks, trailers, and fleet vehicles
- Construction and manufacturing machinery
- Medical, dental, and lab equipment
- Restaurant and kitchen equipment
- Technology and software hardware
Typical borrower profile
- Contractors, truckers, and manufacturers
- Medical and dental practices
- Restaurants and food producers
- Any business replacing or adding equipment
Potential qualification factors
Every lender sets its own criteria, and no factor guarantees or blocks approval on its own. Commonly reviewed items include:
- Equipment type, age, and cost
- Time in business
- Revenue and cash flow
- Owner credit profile
- Down payment, if required
Documentation to have ready
- Government-issued ID
- 3 to 6 months of business bank statements
- Basic business information (entity, EIN, time in business)
- Voided business check for funding
- Equipment quote or invoice from the vendor
Benefits
- Preserves working capital
- Equipment serves as collateral
- Potential tax treatment under Section 179 (confirm with your tax professional)
- New and used equipment programs exist
Common challenges to plan for
- Older or specialized equipment can be harder to finance
- Down payments may apply
- The equipment can be repossessed on default
Frequently asked questions
Should I finance or lease equipment?
Financing builds ownership; leasing can lower payments and simplify upgrades. The right answer depends on how long you will use the equipment and your tax situation.
Can I finance used equipment?
Many programs finance used equipment, though age and condition limits apply. Titled equipment like trucks is often the most straightforward.
Do I need a down payment?
Some programs fund up to the full equipment cost, others require money down. It depends on credit, time in business, and the asset.
Does equipment financing cover soft costs?
Some lenders include delivery, installation, and training in the financed amount. Ask your advisor to check for your specific purchase.
How funding works with Bluejacket
Submit Your Request
Two minutes online with basic details about your goal.
Speak With a Funding Advisor
We review your situation and gather what lenders need.
Review Your Options
Compare structures side by side and pick what fits.
Receive Funding
Complete the lender's process and put capital to work.
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Submit a short request and a funding advisor will follow up with options matched to your situation.