Currency Equipment Financing: Equipment Loan Matchmakers for Established Businesses
Currency connects borrowers who have fair or better credit and an established business with its network of lending partners to finance equipment purchases.
Overview
The bottom line:
Currency uses one loan application to find you the right lender for your equipment financing needs. Rates and fees are unclear, though, and the process takes longer than some direct equipment loans from online lenders.
Loan details
Min. Loan Amount
$5,000
Min. APR
6%
Max Loan Amount
$500,000
Max Term Length
5 years
Max APR
24%
Qualifications
Min. credit score
625
Min. Time in Business
24 months
Min. Annual Revenue
$75,000
Pros & Cons
Pros
Repayment terms up to 72 months.
Little to no down payment required.
Applicants with fair credit considered.
Cons
Interest rate information not disclosed.
Doesn’t fund as quickly as some other equipment financing companies.
Small business loan comparison
Compare to other loans
4.7
NerdWallet rating
4.0
NerdWallet rating
4.1
NerdWallet rating
Min. credit score
625
Min. credit score
600
Min. credit score
575
Min. credit score
620
Min. Time in Business
24 months
Min. Time in Business
6 months
Min. Time in Business
24 months
Min. Time in Business
24 months
Need more options? Check our picks for best small business loans of 2025
Currency works with small-business owners to find them the right equipment loan among the company’s network of more than 30 lending partners. A company like Currency can be useful for established businesses (operating two years or longer) that want support through the equipment financing process, from shopping and comparing offers to signing the agreement and getting funded. But if you’re a startup or you’re looking to make a quick equipment purchase, you may want to continue your search for a small-business loan
How much do you need?
We’ll start with a brief questionnaire to better understand the unique needs of your business.
Once we uncover your personalized matches, our team will consult you on the process moving forward.
Consider Currency if you:
- Need to make a large equipment purchase. Currency’s lending partners offer loans of up to $500,000.
- You want to compare multiple loan offers. Currency offers a marketplace of lenders that each have specific lending specialties and credit requirements. The company helps match borrowers with lenders.
- Have solid personal credit and an established business. Currency requires borrowers to have a personal credit score of at least 625 and have at least two years of business tax returns.
Not a fit? Consider these options instead.
Currency equipment financing details
| Loan amount | Up to $500,000. |
| Estimated APR | Undisclosed. |
| Fees | Documents fee of $300 to $500. Possible additional fees that vary by lender. |
| Terms | Up to 72 months. |
| Repayment schedule | Varies by lending partner. |
| Funding speed | Can be as fast as one week. |
How Currency works
Currency is a business lending marketplace small-business loan application
You apply online through a form that Currency says, “takes minutes to complete.” You’ll be asked a series of questions to supply information about the equipment you plan to purchase plus personal and business information.
The company claims it requires fewer documents than other equipment financing companies, but Currency may ask you to provide:
- Three months of bank statements.
- A tax form to prove how long you’ve been operating.
- Proof of ownership.
As part of the underwriting process, Currency does a soft pull on your personal credit, meaning this check won’t affect your credit score. Currency then compares your credit profile with its requirements and those of its partner lenders to find potential matches. Currency may share your credit information with lenders, and lenders that receive your application may do a hard credit pull, which will appear on your credit report and may affect your credit score.
Currency also offers aircraft financing, starting at $25,000.
NerdWallet writer’s take:
A+ for customer support
NerdWallet writer Ryan Brady
I gave Currency a call to see how helpful and responsive the customer support team is. The short answer is…very. I got through to a rep after a brief automated message.
She was friendly off the bat and not shy about answering questions. I did have to give her a bit of information (my business location, time in operation and what I’m looking to finance) before she would answer my questions.
The rep couldn’t supply a general interest range that applies to all financed equipment since, as she told me, Currency considers several factors to determine a borrower’s rates. But she did tell me that the interest rate, based on the info I provided her, would be between 12% and 20%. She told me rates for semi trucks are pretty high right now.
She also mentioned I’d need to put 20% to 25% down on the truck. (This doesn’t exactly line up with Currency’s statement on its website that borrowers can “provide little or no down payment,” but maybe this is specific to semi trucks.)
Finally, the rep confirmed for me that a Currency advisor would work with me throughout the equipment financing process, not just pass me off to a handful of lenders. She offered to work with me herself, so I gave her my number for follow-up. Ten minutes later, she texted me a link to the application.
Where Currency stands out
Strong customer support
If you’re relying on a company like Currency to help match you with the right equipment lender and guide you through the loan process, then it’s reassuring to know that you can get connected to a human being by phone in just a couple of minutes. Reps are standing by weekdays 8 a.m. to 5 p.m. MT. If you need something outside of these hours, you can send a message through their online contact form.
Transparency around application process
Currency dedicates two full pages on its website to educating borrowers on the equipment financing process, what to look for, whether leasing or purchasing may be better, interest rates, hidden costs, tax implications and more. The company is upfront about exactly what kind of information and documentation it requires during the application process, so the business owner can be fully prepared. We can’t say this of all the equipment financing companies we typically recommend.
Where Currency falls short
Not for new businesses or borrowers with bad credit
Although Currency works with multiple lending partners, whose requirements may vary, more lending options will typically be available to businesses that have at least two years in business and whose owners have personal credit scores of at least 625 and no personal or business bankruptcy within the past three years.
Slower time to fund
The rep we spoke with at Currency told us that she’s seen equipment loans go through within a week, at the fastest. This is certainly speedier than you’re likely to see with an equipment loan through a bank. However, several online equipment financing companies, including two we recommend below, can often approve an application within hours and fund within just a couple of days. So if you’re in need of a fast business loan
Alternatives to Currency
ELease
eLease
eLease - Equipment financing
NerdWallet Rating
Max Loan Amount
Undisclosed
Apply now
with Fundera by NerdWallet
ELease doesn’t put a cap on its equipment loans, though you may need to supply additional documentation to qualify for top-end amounts. You can qualify with a lower credit score (550) and less time in business (6 months) than Currency requires. It’s unclear how quickly the company can approve and fund your loan. But eLease has disclosed its APR range of 7.5% to 22% to NerdWallet as well as its documents fee of $150 to $195.
National Funding
National Funding
National Funding - Equipment financing
NerdWallet Rating
Max Loan Amount
$150,000
Triton Capital
Triton Capital
Triton Capital - Equipment financing
NerdWallet Rating
Max Loan Amount
$250,000
We’ve done the work for you
We’ve compiled a list of the best equipment financing companies for you to compare. Deep dive on the equipment lenders, weigh the pros and cons of equipment financing, compare leasing versus financing options and plug some numbers into our equipment loan calculator to estimate your loan payments.
Ryan Brady, a small-business writer for NerdWallet, contributed to this article.