01
New equipment purchase
Buying a truck, a piece of machinery, a fleet vehicle, kitchen equipment — anything with a defined useful life and resale value. Lower rates than a general business loan.
Equipment Financing
Capital,
structured against the asset.
Up to 100% of equipment value.
Financing where the equipment itself is the collateral. From $10K to $5M, with terms that match the useful life of the asset.
$10,000 — $5,000,000
Or call (914) 677-2272 — Mon – Fri, 9–7 EST
Equipment · fundedThis week
Approved amount
$180,000
Equipment
2024 Kenworth T680
Term
60 months
Industry
Trucking · GA
Rate
8.2%
Avg. equipment deal
$215,000
Explainer
How equipment financing works.
Equipment financing is a loan structured against the equipment being purchased. The asset itself serves as collateral — meaning the loan is secured, the lender's risk is lower, and the rate available is lower than an unsecured product of equivalent size.
Terms typically match the useful life of the asset: 3 to 7 years for most equipment classes. A 7-year-old truck has roughly half its useful life remaining, so financing terms reflect that. The lender wants the loan paid off before the equipment loses material resale value.
Two transaction types: new purchase, where the loan funds an acquisition from a vendor; and refinance, where the loan extracts equity from equipment you already own outright. Both leverage the same underlying mechanic — the asset stays in service while it secures the loan.
Collateral
The equipment itself secures the loan. Lower rates than unsecured, but the asset is recoverable on default.
LTV
Loan-to-value — the loan amount as a percentage of equipment value. Most deals fund at 80–100% LTV.
Useful life
IRS depreciation period for the asset class. Term length usually matches: trucks 5–7 yrs, kitchen 5 yrs, heavy equipment 7+ yrs.
When it fits
When equipment financing fits.
Anywhere the use of funds is a defined asset with resale value, equipment financing usually beats an unsecured product on rate.
02
Used equipment financing
Acquiring used equipment from a private seller, auction, or dealer. We finance based on appraised value and condition.
03
Equipment refinancing
Pulling cash out of equipment you already own to free up working capital. The equipment stays in service, the loan pays you out.
Qualifying
What you'll need.
Equipment financing underwrites primarily to the asset. Credit and revenue matter, but the collateral does most of the work.
Time in business
6+ months
Equipment quote
Required, from vendor or appraisal
Credit profile
600+ FICO
Documents
Bank statements, equipment quote, business info
Equipment under $50K typically funds with minimal documentation — sometimes a quote and bank statements is all we need.
How it works at Green Advance
Four steps to financed.
Equipment closes faster than a conventional term loan because the asset is the collateral.
0110 min
Apply
Business basics, equipment quote or appraisal, and recent bank statements.
0224–48 hours
Review
Underwriting reviews the file in-house and matches it to the lender path that fits.
03Same day
Offer
Terms presented in writing — rate, payment, schedule, all locked before you sign.
045–10 days
Funded
Sign electronically. Capital wires to your operating account.
Talk it through
Green Advance assistant
Walk through equipment financing with us.
Two minutes of questions, then we'll route you to a funder with the context already in hand.
FAQ
Questions we get, answered straight.
Finance the equipment
Finance the equipment.
Asset-backed.
Ten-minute application. Decision within 1–2 business days. Capital funded in 5–10 after vendor docs.