Best Restaurant Equipment Financing Options of 2025
Restaurant equipment financing can help you buy appliances, cash registers and other essential equipment for your restaurant, cafe or fast-food business.
| 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 large loan amounts | $5,000,000 | 24 months | 10.25% | Up to 25 years | with Fundera by NerdWallet |
 with Fundera by NerdWallet | Read expert review | Best for bad credit | $250,000 | 24 months | 6.5% | 12 months to 5 years | with Fundera by NerdWallet |
 with Fundera by NerdWallet | Read expert review | Best for fast line of credit draws | $250,000 | 12 months | 14% | Up to 6 months | with Fundera by NerdWallet |
 with Fundera by NerdWallet | Read expert review | Best for flexible requirements | $150,000 | 6 months | Undisclosed | 24 months to 5 years | with Fundera by NerdWallet |
 with Fundera by NerdWallet | Read expert review | Best for long-term loans | $500,000 | 24 months | 15.22% | 6 months to 5 years | with Fundera by NerdWallet |
 with Fundera by NerdWallet | Read expert review | Best for speedy financing | $250,000 | 12 months | 31.3% | 18 to 24 months | with Fundera by NerdWallet |
 with Fundera by NerdWallet | Read expert review | Best for low-revenue restaurants | $100,000 | 6 months | 35% | 12 to 24 months | with Fundera by NerdWallet |
 with Fundera by NerdWallet | Read expert review | Best for low-cost financing | $750,000 | 24 months | Undisclosed | Up to 5 years | with Fundera by NerdWallet |
restaurant equipment financing: More details
U.S. Small Business Administration: Best for large loan amounts
SBA 7(a) loans offer up to $5 million that can be used for restaurant equipment financing. SBA loans offer lower rates and long repayment terms, but typically are slow to process so are likely not a fit if you need to purchase equipment quickly.
Low interest rate
SBA 7(a) loan
with Fundera by NerdWallet
Max loan amount
$5,000,000
Min. credit score
650
Term length
Up to 25 years
Pros
- Large borrowing maximums.
- Interest rates are capped.
- Long repayment terms available.
Cons
- Collateral is typically required.
- Longer processing times than online lenders.
Pros
- Large borrowing maximums.
- Interest rates are capped.
- Long repayment terms available.
Cons
- Collateral is typically required.
- Longer processing times than online lenders.
with Fundera by NerdWallet
Triton Capital: Best for bad credit
If bad personal credit is preventing you from getting equipment that will help your restaurant, Triton Capital may be an option for you. It only requires a credit score of 580 for its equipment loans. The loans have flexible repayment terms that allow you to tailor payments to your restaurant’s income and can fund in one to two business days.
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
Bluevine: Best for fast line of credit draws
Bluevine can approve an initial line of credit within five minutes and fund as quickly as the same day. If you have a Bluevine business checking account, additional draws on your line can be approved instantly.
May fund quickly
Bluevine - Line of credit
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Max loan amount
$250,000
Min. credit score
625
Term length
Up to 6 months
Pros
- Cash can be available within 12 to 24 hours.
- Can be used to build business credit.
- Low minimum credit score requirement.
Cons
- Requires weekly payments.
- Not available in North Dakota, South Dakota or Nevada.
- Rates can be high compared with traditional lenders.
Pros
- Cash can be available within 12 to 24 hours.
- Can be used to build business credit.
- Low minimum credit score requirement.
Cons
- Requires weekly payments.
- Not available in North Dakota, South Dakota or Nevada.
- Rates can be high compared with traditional lenders.
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National Funding: Best for flexible requirements
National Funding is an online lender that specializes in equipment financing. It has flexible qualification requirements (your restaurant needs only six months in business and you need a personal credit score of 600 to potentially qualify). Repayments are made on a monthly basis, which may be helpful for cash flow. It also offers prepayment discounts.
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
iBusiness Funding: Best for long-term loans
iBusiness Funding (formerly Funding Circle) offers loans up to $500,000 with repayment terms up to seven years, making it a good option for long-term financing of a large restaurant equipment purchase.
May fund quickly
iBusiness Funding - Online term loan
with Fundera by NerdWallet
Max loan amount
$500,000
Min. credit score
660
Term length
6 months to 5 years
Pros
- Cash can be available within two business days.
- Competitive rates among online lenders.
- Terms up to five years.
- iBusiness Funding also offers SBA loans up to $5 million.
Cons
- Charges an origination fee.
- Must be in business for a minimum of 24 months.
- Minimum credit score is higher than some other lenders.
Pros
- Cash can be available within two business days.
- Competitive rates among online lenders.
- Terms up to five years.
- iBusiness Funding also offers SBA loans up to $5 million.
Cons
- Charges an origination fee.
- Must be in business for a minimum of 24 months.
- Minimum credit score is higher than some other lenders.
with Fundera by NerdWallet
OnDeck: Best for speedy financing
For restaurants that have been operating for at least a year with minimum annual revenue of $100,000, OnDeck offers term loans up to $250,000. OnDeck provides a streamlined application process, and funds may be available within the same business day, making it a good potential fit for restaurants that cannot wait to access funding.
May fund quickly
OnDeck - Online term loan
with Fundera by NerdWallet
Max loan amount
$250,000
Min. credit score
625
Term length
18 to 24 months
Pros
- Cash can be available within the same business day (does not apply in California or Vermont).
- Accepts borrowers with a minimum credit score of 625.
- Streamlined application process with minimal documentation required.
- Can be used to build business credit.
Cons
- Cannot fund North Dakota-based businesses.
- Requires frequent (daily or weekly) repayments.
- Interest rates can be high compared with traditional lenders.
- Charges origination fee.
Pros
- Cash can be available within the same business day (does not apply in California or Vermont).
- Accepts borrowers with a minimum credit score of 625.
- Streamlined application process with minimal documentation required.
- Can be used to build business credit.
Cons
- Cannot fund North Dakota-based businesses.
- Requires frequent (daily or weekly) repayments.
- Interest rates can be high compared with traditional lenders.
- Charges origination fee.
with Fundera by NerdWallet
Headway Capital: Best for low-revenue restaurants
For restaurants with lower-cost financing needs, Headway Capital offers lines of credit up to $100,000, with a minimum annual revenue requirement of only $50,000.
Headway Capital - Line of credit
with Fundera by NerdWallet
Max loan amount
$100,000
Min. credit score
625
Term length
12 to 24 months
Pros
- Flexible qualification requirements.
- No prepayment penalties.
- Funds available by next business day after approval.
Cons
- Most borrowers are subject to a 2% draw fee.
- Not available in all U.S. states.
Pros
- Flexible qualification requirements.
- No prepayment penalties.
- Funds available by next business day after approval.
Cons
- Most borrowers are subject to a 2% draw fee.
- Not available in all U.S. states.
with Fundera by NerdWallet
Bank of America: Best for low-cost financing
Bank of America’s equipment loans are a low-cost option for restaurants with a minimum annual revenue of $250,000 and have been operating for at least two years. It offers low origination fees and, like most bank loans, affordable interest rates.
Bank of America - Equipment loan
with Fundera by NerdWallet
Max loan amount
$750,000
Min. credit score
700
Term length
Up to 5 years
Pros
- Competitive interest rates.
- Longer repayment periods.
- Bank of America’s Preferred Rewards program can offer interest rate discounts and other perks.
- Fee discounts available for veteran-owned businesses.
Cons
- Charges an origination fee.
- Prepayment fees may apply to early repayments.
- Can be slow to fund.
- Application cannot be completed online.
Pros
- Competitive interest rates.
- Longer repayment periods.
- Bank of America’s Preferred Rewards program can offer interest rate discounts and other perks.
- Fee discounts available for veteran-owned businesses.
Cons
- Charges an origination fee.
- Prepayment fees may apply to early repayments.
- Can be slow to fund.
- Application cannot be completed online.
with Fundera by NerdWallet
Where to get restaurant equipment financing
A variety of lenders offer financing options that can be used to purchase equipment for your restaurant.
- Banks and credit unions. Generally, you’ll find the most competitive
interest rates SBA lenders. - Online lenders. If you don’t qualify for a
bank or SBA loan loans offered by online lenders - POS providers. Some restaurant point-of-sale companies, for example Toast and Lightspeed, provide funding for their existing customers through
merchant cash advances
» MORE: Best business bank loans
How to choose restaurant equipment financing
Choosing the best business loan for your restaurant
Understand how much your restaurant can afford
Because restaurant cash flow can be volatile, especially within the first few years, you’ll want to make sure that you can support payments on an equipment loan before you commit to anything. That means understanding what to expect from your daily or weekly cash flow and how it aligns with other fixed expenses related to your restaurant.
If you work better when visualizing numbers, your restaurant's point-of-sale system equipment loan calculator
Consider your restaurant’s qualifications
Understanding what type and amount of funding your restaurant will qualify for is a huge part of determining which type of financing you should get. Similar to most small-business loans, restaurant equipment lenders will take your restaurant’s financial history, time in operation and your personal credit score into account when evaluating your application.
Generally, equipment financing can be more lenient because it comes with built-in collateral; however, you’ll still need to have strong annual revenue.
» MORE: Bad-credit business loans
Determine which type of financing is best for your business
There are several types of financing — equipment loans, term loans or lines of credit — that you can use to purchase equipment for your restaurant. Here is a look at each, as well as the situations where they may make the most sense for your business.
Equipment loans
Term loans
Business lines of credit
» MORE: Best business auto loans
Compare rates and terms
Once you’ve narrowed down your loan type and lenders, you’ll want to compare as many as you can.
Make sure you’re looking at annual percentage rate
Keep in mind that the actual rate and term you get from a lender will depend on your restaurant’s specific qualifications. To avoid being blindsided, you may consider comparing the highest rates, or working directly with the lenders you’re comparing to get a narrower idea of what you can expect.
Restaurant equipment leasing
When evaluating your application, leasing companies
NerdWallet writer Rosalie Murphy contributed to this article.
Last updated on October 4, 2024
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