Equipment for your business
It can cover new or used business vehicles, machinery, medical equipment, and technology. The funding is tied to the equipment you’re acquiring.
Equipment Financing
Equipment financing.
Get the tools. Get to work.
Finance business vehicles, machinery, medical equipment, or technology. Compare equipment loans and leases, repayment terms, costs, and requirements.
Funding range$25K–$10M
Financing term2–7 years
Funding typeAsset financing
Typical funding time2–10 days
RepaymentMonthly
PRODUCT OVERVIEW
Equipment financing,
explained.
Equipment financing lets your business get the machinery, vehicles or tools it needs without paying the full purchase price upfront. A loan or lease spreads the cost while you put the equipment to work.
With an equipment loan, your business buys the asset and repays the borrowed amount over time. The equipment commonly serves as collateral, so the lender has a claim on it if the loan is not repaid. A deposit or additional security may also be required.
A lease gives your business the right to use the equipment for an agreed period. What happens at the end depends on the agreement: you may return it, extend the lease or buy it under a purchase option. Ownership and the final purchase price are important differences to check.
Look at the full cost of getting the asset into service, including any deposit, delivery, installation, fees and end-of-term payment. The payment schedule should make sense for the equipment’s useful life and the cash it helps your business generate or save.
Westwind helps you compare equipment loan and lease options, including the upfront cost, ownership terms and payments over time.
A loan or a lease
With a loan, your business buys and owns the equipment. With a lease, you pay to use it; the agreement sets any option to buy, return, or renew.
The equipment is security
On a loan, the equipment usually acts as collateral: the lender can take it back if you fail to repay. Other security may also be required.
Spread the cost over time
Payments are usually monthly over an agreed term. Your total cost includes financing charges and any fees; a deposit or final buyout may also apply.
BEFORE YOU APPLY
What you’ll need to get started.
Know what lenders look for and what to have ready. Your advisor helps with the rest.
What lenders look at
The equipment
Its make, age, condition, price, and suitability for your business.
Business track record
Your operating history and current financial position.
Credit profile
Business or owner credit and repayment history.
Repayment capacity
Cash flow available to support the equipment payments.
The purchase plan
Vendor details, the purchase quote, and any deposit required.
What to have ready
To start
- Funding amount, purpose & timeline
- Business details & revenue
- Existing financing & credit range
- Your contact details
For lender review
- Vendor quote or invoice with the purchase price
- Equipment make, model, and specifications
- Age and condition details for used equipment
- Recent business bank statements and financials, as requested
- Vendor contact details and insurance information, when required
IS THIS RIGHT FOR YOU?
Will the equipment earn its place in your business?
Start with the purpose, the payback period, and the payment your business can support. Use these signals to decide what to discuss with your advisor.
A stronger fit
- The equipment earns you money, or stops you losing it
- It holds its value
- You'll finish paying before it wears out
A reason to pause
- You actually need cash for day-to-day costs
- The equipment is outdated or so specialised nobody else would buy it
- You don't want to pledge anything as security
The advantages
- Preserves cash for operations
- The financed asset supports the credit
- Predictable payments
- Potential tax benefits should be reviewed with a tax advisor
The trade-offs
- Down payment or additional collateral may be required
- Obsolete or specialized equipment can be hard to finance
- The business owes payments even if equipment underperforms
- UCC liens, documentation, and end-of-term lease conditions may apply
HOW FUNDING WORKS
From application
to funding,
step by step.
Tell us about your business once. We prepare your file, find relevant lenders, coordinate the review, and help you compare your offers.
01 profile05 steps1:1 your own advisor
01
START HERE
Tell us what you need
Fill out one form with the amount, what the money is for, and the basics of your business.
RESULTOne complete business profile
- How much you need and what you will use it for
- Sales, industry, time in business, and what you already owe
02
ADVISOR REVIEW
Go through it with your advisor
Your advisor checks the request with you, gets clear on what matters, and helps gather the documents lenders will ask for.
RESULTA file ready for lender review
- Confirm timing, payment comfort, and business goals
- Collect the statements and supporting documents needed
03
MATCH & ROUTE
We find the lenders that fit
We compare your profile with different types of funding and the requirements of participating lenders.
RESULTA focused lender submission
- Narrow the list to lenders whose rules may fit
- Send the complete file only to selected lenders
04
UNDERWRITING
Lenders review the file
Each lender makes its own decision. We handle questions, document requests, and follow-up so you do not have to chase every party.
RESULTOffers you can compare side by side
- Resolve questions and missing items in one place
- Lay out available prices, terms, payments, and conditions
05
DECIDE & CLOSE
Compare, choose, and get funded
Your advisor explains the cost and tradeoffs, then helps you finish the lender's final conditions and closing documents.
RESULTThe option you choose, taken through funding
- Compare total cost, payment, term, collateral, and flexibility
- Complete final lender conditions and closing documents
How fast you get funded, what you're offered, and whether you're approved at all depend on your business, your paperwork, and the lender. Nothing here is a guarantee of an offer or approval.
RUN THE NUMBERS
Your next move.
By the numbers.
See how the equipment price, down payment, and loan term shape your monthly payment and total investment.
Monthly paymentOver 60 months
Financing costTotal interest + lender fees
Total cash outlayUpfront cash + all loan payments
- Upfront cash needed
- $30,000.00
- Final installment
- $2,549.32
Loan balance over time
Explore how your financing changes over time.
Months since funding · Balances shown every 5 months and at the end of the projection.
Your total cash outlay
Total in USD- Equipment & purchase costs
- $150,000.00
- Total interest
- $32,978.67
- Lender fee
- $0.00
Includes the down payment and purchase costs paid upfront. Purchase costs are separate from the cost of financing.
Repayment schedule
Excludes upfront cash. Interest and payments are rounded to cents; the final payment clears the balance.
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $2,549.65 | $1,549.65 | $1,000.00 | $118,450.35 |
| 2 | $2,549.65 | $1,562.56 | $987.09 | $116,887.79 |
| 3 | $2,549.65 | $1,575.59 | $974.06 | $115,312.20 |
| 4 | $2,549.65 | $1,588.71 | $960.94 | $113,723.49 |
| 5 | $2,549.65 | $1,601.95 | $947.70 | $112,121.54 |
| 6 | $2,549.65 | $1,615.30 | $934.35 | $110,506.24 |
| 7 | $2,549.65 | $1,628.76 | $920.89 | $108,877.48 |
| 8 | $2,549.65 | $1,642.34 | $907.31 | $107,235.14 |
| 9 | $2,549.65 | $1,656.02 | $893.63 | $105,579.12 |
| 10 | $2,549.65 | $1,669.82 | $879.83 | $103,909.30 |
| 11 | $2,549.65 | $1,683.74 | $865.91 | $102,225.56 |
| 12 | $2,549.65 | $1,697.77 | $851.88 | $100,527.79 |
| Full projection | $152,978.67 | $120,000.00 | $32,978.67 | $0.00 |
Month 1–12 of 60
Models a fixed-rate equipment loan with monthly payments beginning one month after funding. This is not a lease calculator. No tax deductions, depreciation, residual resale value or early repayment charges are modeled. Input ranges are for planning, not eligibility.
LOOK AT THESE TOO
Other options worth comparing.
Don't pick on the rate alone, and don't pick on the biggest number you're approved for. Compare the whole deal.
QUICK ANSWERS
Questions people ask about equipment financing.
Loan or lease?
A loan is designed toward ownership; a lease may offer lower initial cash requirements or different end-of-term options. Compare total cost, tax treatment, buyout, and return conditions.
Can used equipment be financed?
Often yes, but age, condition, valuation, useful life, and resale market affect advance rate and term.
What decides whether I get approved?
Lenders mostly look at what the equipment is worth, your cash flow, your credit, and how long the equipment will last. Each one has its own rules about credit, paperwork, and what it takes to say yes.
How fast can I get the money?
Plan on 2–10 days. It can take longer if the deal is complicated, your paperwork is slow, an outside report is needed, or the lender asks for more.
What should I compare between offers?
Ten things: the total dollars you pay back, the true yearly cost, how often you pay, how long it runs, what you put up as collateral, what you personally guarantee, the rules you agree to follow (covenants), what happens if you pay it off early, the fees, and whether the money earns more than it costs.
YOUR NEXT MOVE
See whether equipment financing fits your business.
One application. Every option that fits. A clear path to the money.
Get funded