How fast can I get a business loan?

With Slate Financial, many business loans fund in as little as 24 hours. MCAs and lines of credit can fund same-day. Term loans typically fund in 24-72 hours. Real estate loans range from 5 days to 4 weeks depending on the product.

Can I get a business loan with bad credit?

Yes. Products like MCAs, MCA Bailouts, and Lines of Credit are primarily based on your business revenue, not your personal credit score. If your business generates consistent monthly revenue ($10K+/month), you likely qualify for funding.

What types of business loans does Slate Financial offer?

Slate Financial offers 14 loan products including Term Loans, Lines of Credit, Merchant Cash Advances, MCA Bailout, 0% Interest Business Credit Cards, Equipment Financing, Purchase Order Factoring, Commercial Real Estate Loans, Residential Mortgages, DSCR Loans, Fix and Flip Loans, Ground-Up Construction Loans, Mergers & Acquisitions Financing, and Form 1003 Mortgage Applications.

Does applying for a business loan affect my credit score?

No. Slate Financial's initial application uses a soft inquiry that does NOT impact your credit score. A hard pull is only done after you've reviewed and accepted a specific offer from a lender.

A DSCR (Debt Service Coverage Ratio) loan allows real estate investors to qualify based on the property's rental income rather than personal income. If the property's rent covers the mortgage payment, you can qualify without providing pay stubs, W-2s, or tax returns.

Can I finance used or refurbished equipment?

Yes. We finance both new and used equipment across all industries. Used and refurbished equipment typically qualifies for slightly shorter terms and may require a higher down payment, but competitive rates are still available. The equipment must have a remaining useful life that exceeds the proposed loan term.

What types of equipment can be financed?

Virtually any business equipment can be financed, including construction machinery, manufacturing equipment, medical devices, commercial vehicles, restaurant equipment, technology hardware, agricultural machinery, and office furniture. If the equipment has a quantifiable value and is used for business purposes, it can likely be financed.

Is there a tax benefit to financing equipment?

In many cases, yes. Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment in the year it is placed in service, rather than depreciating it over several years. This can provide a significant tax benefit. Consult your accountant or tax advisor to determine how equipment financing may affect your specific tax situation.

What is the difference between an equipment loan and an equipment lease?

With an equipment loan, you own the equipment from day one and build equity with each payment. With a lease, you are essentially renting the equipment and may return it at the end of the lease or purchase it for a residual value. Loans are better when you plan to keep the equipment long-term, while leases work well for equipment that becomes outdated quickly or needs frequent upgrading.

Back to all products

Equipment Lending

Finance new or used equipment with competitive rates and flexible terms up to 84 months.

LOAN RANGE

$10K – $5M

TURNAROUND

24–48 hours

Best for businesses that need to acquire machinery, vehicles, technology, or other capital equipment without depleting cash reserves.

About Equipment Lending

Equipment financing allows businesses to purchase or lease new or used equipment by spreading the cost over time rather than paying the full price upfront. With financing available up to $5,000,000 and terms extending to 84 months, this product preserves your working capital while putting the tools, machinery, and technology your business needs to work immediately.

The equipment itself serves as collateral for the loan, which means approval requirements are often more flexible than unsecured financing products. Because the lender has a security interest in the equipment, they can offer lower interest rates and longer terms than you would find with a general-purpose business loan. Many programs offer up to 100% financing with no down payment required.

Slate Financial finances equipment across all industries, including construction, manufacturing, healthcare, transportation, food service, technology, and agriculture. Whether you need a single piece of specialized machinery or an entire fleet of vehicles, our lending partners offer competitive rates with fast turnaround. Most equipment loans are approved and funded within 24 to 48 hours.

How It Works

1Provide a quote or invoice for the equipment you want to purchase, along with your business information and bank statements.
2Our team evaluates the equipment type, your business profile, and cash flow to determine the optimal financing structure and rate.
3You receive a financing offer with the loan amount, interest rate, monthly payment, term length, and any down payment requirements.
4Upon approval, funds are sent directly to the equipment vendor or dealer, and you take possession of the equipment immediately.
5You make fixed monthly payments over the loan term. Once fully repaid, you own the equipment outright with no further obligations.

Who Qualifies

Minimum 6 months in business (startups considered for smaller amounts with stronger credit)
Personal credit score of 600 or higher (varies by loan size and equipment type)
Equipment must have a verifiable value and useful life that exceeds the loan term
Business must demonstrate sufficient cash flow to service monthly payments
Both new and used equipment qualify; refurbished equipment evaluated on a case-by-case basis

Typical Terms

Financing Amount	$10,000 - $5,000,000
Interest Rate	5% - 25% depending on profile
Term Length	24 - 84 months
Down Payment	0% - 20% (credit dependent)
Collateral	Equipment being financed
Time to Fund	24 - 48 hours after approval

Pros & Cons

Advantages

+Equipment serves as its own collateral, resulting in lower rates and easier approval than unsecured loans

+Up to 100% financing available, preserving your cash reserves for operations

+Fixed monthly payments make budgeting straightforward over the life of the loan

+Section 179 tax deduction may allow you to deduct the full purchase price in the year of acquisition

Considerations

-Financing is limited to the specific equipment being purchased; funds cannot be used for other purposes

-If the equipment becomes obsolete before the loan is repaid, you are still obligated to make payments

-Used or older equipment may qualify for shorter terms and higher rates than new equipment

-A down payment of 10-20% may be required for borrowers with lower credit scores or shorter time in business

Ready to Apply for Equipment Lending?

Fill out the application below and a funding advisor will reach out within 1 business day.

Application Form

All fields marked * are required. Your information is encrypted and secure.

Business Info

Business Legal Name *

Business Type *

Time in Business *

Equipment Details

Equipment Type *

Equipment Condition *

Equipment Cost / Invoice Amount *

Vendor / Dealer Name

Loan Details

Amount to Finance *

Down Payment (if any)

Desired Term *

Owner Info

Owner Full Name *

Owner Email *

Owner Phone *

How did you hear about us?

Document Upload

After submission, your advisor will send a secure upload link for required documents.

Credit Authorization

By checking the box below, I authorize Slate Financial and its designated partners to pull credit reports for the purpose of evaluating this funding application. I understand that:

A soft inquiry will be conducted on my personal credit (this will not impact my personal credit score)
A hard inquiry will be conducted on my business credit (this may be reflected on my business credit report)
These inquiries are used solely to assess eligibility for business funding products
My information will be kept confidential and used only for this application

I authorize Slate Financial to perform a soft pull on my personal credit and a hard pull on my business credit

🔒 256-bit SSL encrypted · Your data is never sold

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Program Highlights

Up to 100% financing

New & used equipment

Terms up to 84 months

Preserve working capital

Required Documents

Have these ready to speed up your approval:

📄Equipment invoice or quote

📄6 months business bank statements

📄Driver's license (front & back)

📄Business license or EIN letter

📄Last 2 years business tax returns (loans over $150K)

Typical Timeline

24–48 hours

Timeline begins after all required documents are received and verified.

Need Help?

Talk to a funding advisor

📞 (843) 290-8928

Equipment Lending

About Equipment Lending

How It Works

Who Qualifies

Typical Terms

Pros & Cons

Ready to Apply for Equipment Lending?

Application Form

Business Info

Equipment Details

Loan Details

Owner Info

Credit Authorization

Program Highlights

Required Documents

Typical Timeline

Frequently Asked Questions

Application Form

Business Info

Equipment Details

Loan Details

Owner Info

Credit Authorization