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.

Equipment Financing: Lease vs. Buy Guide for 2026 | Slate Financial

Every business depends on equipment to operate. Whether you run a restaurant, a construction company, a medical practice, or a trucking operation, acquiring the right equipment at the right time is critical to growth. The central question most business owners face is whether to lease or buy — and the answer depends on your financial situation, tax strategy, and how long you expect to use the equipment.

Equipment Leasing Explained

An equipment lease allows you to use equipment for a set period — typically two to seven years — in exchange for regular monthly payments. At the end of the lease term, you may have the option to purchase the equipment at its fair market value or a predetermined buyout price, return it, or upgrade to newer equipment. Leasing is popular because it preserves cash flow and keeps your balance sheet lighter since the equipment is not listed as a depreciating asset you own.

Equipment Buying (Financing) Explained

Equipment financing means borrowing money to purchase equipment outright. You make monthly payments over a set term, and once the loan is repaid, you own the equipment free and clear. Equipment loans typically finance 80% to 100% of the equipment's value with terms ranging from 24 to 84 months. The equipment itself serves as collateral, which makes this type of financing more accessible than unsecured loans.

Financial Comparison: Lease vs. Buy

Upfront Cost: Leasing usually requires little to no down payment. Buying may require 10-20% down depending on the lender and your credit profile.
Monthly Payment: Lease payments are generally lower than loan payments for the same equipment because you are paying for usage, not ownership.
Total Cost Over Time: Buying is usually cheaper over the long term because you build equity and own the asset. Leasing costs more cumulatively but spreads payments over time.
End of Term: With a loan, you own the equipment. With a lease, you return it, buy it, or upgrade.

Tax Implications

Both options offer tax benefits, but they work differently. If you buy equipment, you can take advantage of Section 179 of the IRS tax code, which allows you to deduct the full purchase price of qualifying equipment in the year it is placed in service. For 2026, the Section 179 deduction limit is over $1 million. If you lease, you can typically deduct the full lease payment as a business expense. Consult your accountant to determine which approach provides greater tax benefit for your specific situation.

When to Lease Equipment

Leasing makes sense when the equipment will become outdated quickly, such as technology, computers, or medical devices. It is also a strong choice when you want to preserve cash and keep monthly payments low, when you prefer to upgrade to new equipment every few years, when you are a startup with limited capital for a down payment, or when you want to test equipment before committing to a purchase.

When to Buy Equipment

Buying is the better choice when the equipment has a long useful life, such as construction machinery, commercial vehicles, or industrial equipment. It also makes sense when you want to build equity in assets, when you can take full advantage of the Section 179 tax deduction, when you plan to use the equipment for five years or more, or when the equipment will retain significant resale value.

Popular Equipment Categories We Finance

Slate Financial helps businesses finance and lease equipment across every industry. Common categories include construction equipment such as excavators, loaders, and cranes; commercial trucks and fleet vehicles; restaurant and food service equipment; medical and dental equipment; manufacturing and CNC machinery; IT and technology infrastructure; agricultural equipment; and salon, spa, and fitness equipment.

Get Your Equipment Financed

Whether you decide to lease or buy, Slate Financial can match you with the right equipment financing solution. We work with lenders who specialize in every equipment category and can close in as little as 48 hours for amounts under $150,000.

Apply for equipment financing and get approved in as little as 24 hours.

How to Finance Equipment for Your Business: Lease vs. Buy in 2026