7 Best Equipment Leasing Companies for 2025
The best equipment leasing companies should meet your financing needs, have competitive rates and offer industry expertise.
| Lender | NerdWallet rating | Best For | Max loan amount | Min. time in business | Min. interest rate | Term length | Learn more |
|---|---|---|---|---|---|---|---|
 with Fundera by NerdWallet | Read expert review | Best for Startup businesses | $150,000 | 6 months | Undisclosed | 24 months to 5 years | with Fundera by NerdWallet |
 with Fundera by NerdWallet | Read expert review | Best for Restaurant, technology and medical leasing | $250,000 | 24 months | 6.5% | 12 months to 5 years | with Fundera by NerdWallet |
 | Read expert review | Best for Equipment leasing with no down payment | $10,000,000 | 24 months | 5.99% | 24 months to 7 years | |
 | Best for Borrowers with bad credit | $5,000,000 | 24 months | Undisclosed | Undisclosed | ||
 with Fundera by NerdWallet | Best for Heavy equipment leasing | Undisclosed | 24 months | Undisclosed | 12 months to 6 years | with Fundera by NerdWallet | |
 | Best for Fast equipment leasing | $1,000,000 | 24 months | Undisclosed | 24 months to 7 years | ||
 | Read expert review | Best for Established businesses | Undisclosed | Undisclosed | Undisclosed | Undisclosed |
equipment leasing companies: More details
National Funding: Best for Startup businesses
You may be able to qualify for equipment leasing from National Funding with just six months in business.
National Funding - Equipment financing
with Fundera by NerdWallet
Max loan amount
$150,000
Min. credit score
600
Term length
24 months to 5 years
Pros
- Funding in as little as 24 hours.
- Prepayment discounts available.
- Offers loans to startups and borrowers with bad credit.
- No collateral or down payment required.
Cons
- Charges a factor rate that makes it more difficult to compare costs with other lenders.
- Requires higher annual revenue than other online lenders.
- Misleading website marketing: National Funding offers only short-term loans and equipment financing/leasing.
- Charges an origination fee.
Pros
- Funding in as little as 24 hours.
- Prepayment discounts available.
- Offers loans to startups and borrowers with bad credit.
- No collateral or down payment required.
Cons
- Charges a factor rate that makes it more difficult to compare costs with other lenders.
- Requires higher annual revenue than other online lenders.
- Misleading website marketing: National Funding offers only short-term loans and equipment financing/leasing.
- Charges an origination fee.
with Fundera by NerdWallet
Triton Capital: Best for Restaurant, technology and medical leasing
Triton offers equipment leases up to $250,000 which can be well-suited for small businesses in a variety of industries.
Triton Capital - Equipment financing
with Fundera by NerdWallet
Max loan amount
$250,000
Min. credit score
580
Term length
12 months to 5 years
Pros
- Can fund within one to two business days.
- No prepayment penalty.
- Flexible repayment options: monthly, quarterly, annually or semiannually.
Cons
- Charges an origination fee.
Pros
- Can fund within one to two business days.
- No prepayment penalty.
- Flexible repayment options: monthly, quarterly, annually or semiannually.
Cons
- Charges an origination fee.
with Fundera by NerdWallet
JR Capital: Best for Equipment leasing with no down payment
You can lease a wide range of used and new equipment with JR Capital, no down payment required.
JR Capital - Equipment financing
Max loan amount
$10,000,000
Min. credit score
620
Term length
24 months to 7 years
Pros
- Funding available within 48 hours.
- Competitive rates and repayment terms.
- Flexible payment options available, including deferment options for certain industries.
- No down payment required.
- Can be used to build business credit.
Cons
- Must have good credit to qualify for no prepayment penalties.
- Charges an origination fee.
Pros
- Funding available within 48 hours.
- Competitive rates and repayment terms.
- Flexible payment options available, including deferment options for certain industries.
- No down payment required.
- Can be used to build business credit.
Cons
- Must have good credit to qualify for no prepayment penalties.
- Charges an origination fee.
Taycor: Best for Borrowers with bad credit
Taycor Financial can provide equipment leasing to borrowers with a minimum credit score of 550 or higher.
Taycor Financial - Equipment leasing
Max loan amount
$5,000,000
Min. credit score
550
Term length
Undisclosed
Pros
- Equipment leases with customizable terms, structures and even payment deferral options.
- No prepayment penalties; savings available for paying early.
- Smaller funding requests and well-qualified customers are eligible for a streamlined, one-page application process.
Cons
- Interest rate information not available on website.
Pros
- Equipment leases with customizable terms, structures and even payment deferral options.
- No prepayment penalties; savings available for paying early.
- Smaller funding requests and well-qualified customers are eligible for a streamlined, one-page application process.
Cons
- Interest rate information not available on website.
First Citizens Bank: Best for Heavy equipment leasing
First Citizens Bank offers customizable equipment leasing options, including a specialized program for heavy trucks, trailers or tractors.
First Citizens Bank - Equipment financing
with Fundera by NerdWallet
Max loan amount
Undisclosed
Min. credit score
640
Term length
12 months to 6 years
Pros
- Competitive rates and terms.
- Loan or lease terms can be structured to meet specific tax or accounting needs.
- Funding available as fast as one day.
Cons
- Loan payments and other services may not be available at branch locations.
Pros
- Competitive rates and terms.
- Loan or lease terms can be structured to meet specific tax or accounting needs.
- Funding available as fast as one day.
Cons
- Loan payments and other services may not be available at branch locations.
with Fundera by NerdWallet
Crest Capital: Best for Fast equipment leasing
With Crest Capital, you can lease new or used equipment and receive funding in as little as 24 hours.
Crest Capital - Equipment leasing
Max loan amount
$1,000,000
Min. credit score
650
Term length
24 months to 7 years
Pros
- Several different options for equipment leases.
- Customized payment structures available.
- Can fund applications in as little as 24 hours.
Cons
- Interest rate information not available on website.
- Startups and borrowers with bad credit can’t qualify.
Pros
- Several different options for equipment leases.
- Customized payment structures available.
- Can fund applications in as little as 24 hours.
Cons
- Interest rate information not available on website.
- Startups and borrowers with bad credit can’t qualify.
Wells Fargo: Best for Established businesses
Wells Fargo can provide a specialized lending experience for established businesses with strong credit.
Wells Fargo - Commercial equipment financing
Max loan amount
Undisclosed
Min. credit score
700
Term length
Undisclosed
Pros
- Offers lease options in a diverse array of industries.
- Can provide specialized customer experience.
Cons
- Qualification requirements and interest rate information not available on website.
- Will likely have to visit a branch location to apply.
Pros
- Offers lease options in a diverse array of industries.
- Can provide specialized customer experience.
Cons
- Qualification requirements and interest rate information not available on website.
- Will likely have to visit a branch location to apply.
How to choose an equipment leasing company
You’ll want to research several equipment leasing companies before deciding which option is right for your business. As you compare companies, consider these factors:
Funding availability
Leasing companies will have different maximum financing amounts and may restrict the type of equipment you can lease. You should confirm that the equipment you need falls within a lender’s requirements.
Cost of borrowing
Banks will typically offer the lowest interest rates, however, equipment leases from a bank can be difficult to qualify for. Online lenders will have more flexible qualifications, but higher rates. Ultimately, the interest rates
You should always ask a lender about any additional fees they might charge and factor those fees into your borrowing costs as well.
» MORE: An equipment loan calculator
Repayment terms
Repayment terms on equipment funding can range anywhere from one to five years or more. Leases can generally offer lower monthly payments (compared with loans used to finance your equipment purchase
» RELATED: Best restaurant loans
Lease options
Equipment leasing companies may offer different types of leases, such as a $1 purchase agreement or fair market value option. These options dictate how you make payments over the course of your lease, as well as what happens to the equipment once the lease ends. You should determine what type of lease works best for your needs and find a lender that can offer that agreement.
Qualification requirements
Like other types of business lenders, equipment leasing companies will typically look at your personal credit score, length of time in business and annual revenue when evaluating your financing application. They'll also consider the value of the equipment you’re looking to lease, as well as any additional collateral
To qualify for equipment leasing from a bank, you’ll need to be an established business with a strong credit and financial history. Online lenders
Speed of funding and application process
If you need funding fast, online and alternative leasing companies may be able to offer you an equipment lease in just 24 hours. These lenders generally have simple application processes with minimal documentation. More traditional lenders, on the other hand, will be slower to fund.
» MORE: Best same-day business loans
Industry and customer experience
The best equipment leasing companies will have experience in your industry and be able to offer guidance through all stages of the funding process. Ideally, your leasing company will provide a range of ways for you to access customer support and will be able to address any questions or concerns you have about your leasing agreement.
Reading reviews and talking to other business owners can help you verify the reputation and trustworthiness of an equipment leasing company. Watch out for companies that make red-flag promises such as “no credit check equipment financing
Frequently asked questions
What is an equipment leasing company?
What credit score do you need to lease equipment?
Is it better to lease equipment than to buy it?
Last updated on April 10, 2024
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Methodology
NerdWallet’s review process evaluates and rates small-business loan products from traditional banks and online lenders. We collect over 30 data points on each lender using company websites and public documents. We may also go through a lender’s initial application flow and reach out to company representatives. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.
Our star ratings award points to lenders that offer small-business friendly features, including: transparency of rates and terms, flexible payment options, fast funding times, accessible customer service, reporting of payments to business credit bureaus and responsible lending practices. We weigh these factors based on our assessment of which are the most important to small-business owners and how meaningfully they impact borrowers’ experiences.
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