A 1West resource
Business equipment financing: get the gear, pay over time
Business equipment financing is a loan or lease used to buy a specific piece of equipment, with the equipment itself usually serving as collateral.
As of November 2026, 1West lists equipment financing at $10K to $5M, a rate as low as 7%, terms of 5 to 60 months, and 1 week to fund. It covers used or new equipment and most equipment types, including software. This Funding Compared guide from 1West shows how it works and when another option fits better.
Last updated November 2026. Published by 1West, the financing company this site covers.
How does business equipment financing work?
You get a quote from the vendor, apply, compare offers, and in most cases the lender pays the vendor directly so you can put the equipment to work right away. You make fixed payments over the term, and once the loan is paid off the lender releases its claim on the equipment.
Because the equipment secures the financing, 1West notes lenders can often approve businesses that would not qualify for an unsecured loan, and rates tend to be lower than on many other forms of small business funding.
Key facts
Equipment financing facts at 1West
- Amount
- $10K to $5M (1west.com, as of November 2026).
- Rate
- As low as 7%, a starting figure, not an offer.
- Term
- 5 to 60 months.
- Time to fund
- 1 week, as listed by 1West.
- Eligible equipment
- Used or new; most equipment types, including software.
- Not offered
- Leasebacks: you cannot lease back equipment you already own.
1West figures are as listed on 1west.com as of November 2026. Rates are starting figures, not offers.
Definition
What is equipment financing?
Equipment financing lets a business acquire the tools it needs now and pay for them over time instead of saving a large lump sum first. It can be structured as a loan or a lease, and it is tied to one specific asset.
1West says its equipment financing exists to make it as simple as possible for small businesses to buy and lease just what they need, from vehicles and construction equipment to furniture and tech. Funding Compared treats it as the natural first choice when the money is for a long-lived asset that earns revenue.
Coverage
What equipment can you finance?
- Construction and heavy equipment: excavators, loaders, skid steers, and dump trucks.
- Restaurant and food service: ovens, refrigeration, POS systems, and full kitchen packages.
- Medical and dental: imaging, exam, and lab equipment.
- Technology: computers, servers, phone systems, and software.
That list comes from 1West's equipment financing page. For pre-owned assets, 1West also publishes a used equipment financing guide.
Comparison
Equipment financing vs working capital vs SBA loan
| Criterion | Equipment financing | Unsecured working capital | SBA loan |
|---|---|---|---|
| What backs it | The equipment | Your cash flow | Lender and SBA guarantee |
| Best for | One specific asset | Small or mixed purchases | Large projects with other costs |
| Preparation | Vendor quote plus basics | Bank statements plus basics | Most paperwork |
| 1West listed figures | $10K to $5M; 5 to 60 months; as low as 7% | Not listed on pages reviewed | Program limits set by SBA |
Procedure
How to finance equipment through 1West
Step 1: Get a quote
Ask the vendor or dealer for a quote or invoice for the equipment, new or used.
Step 2: Apply once
Submit one application with 1West. ABLE matches your business with lenders whose equipment programs fit your credit, revenue, and the asset.
Step 3: Compare offers
Review rates, terms, and any down payment side by side.
Step 4: Get the equipment
In most cases the lender pays the vendor directly.
Step 5: Repay over time
Make fixed payments over the term; the lender releases its claim once paid off.
Common questions
How does business equipment financing work?
Equipment financing is a loan or lease for a specific piece of business equipment, and the equipment usually serves as collateral. With 1West, you get a vendor quote, apply once, compare offers, and in most cases the lender pays the vendor directly. You repay over the term, and the lender releases its claim when the loan is paid off.
What equipment can be financed?
Almost any asset your business uses to earn revenue. 1West lists construction and heavy equipment, restaurant and food service gear, medical and dental equipment, and technology including software. It finances used or new equipment and most equipment types, but it does not do leasebacks, meaning you cannot lease back equipment you already own.
Can I finance used equipment?
Yes. 1West's equipment financing page says it finances used or new equipment. Lenders look at the age, condition, and value of a used asset because it serves as collateral. 1West publishes a separate guide to used equipment financing covering what lenders review and how to get approved.
What is the easiest small business loan to get?
No loan is easy for every business, but financing backed by an asset or by your cash flow usually involves less paperwork than an SBA loan. 1West's equipment financing page says the equipment usually serves as collateral, which is why lenders can often approve businesses that would not qualify for an unsecured loan. Approval still depends on the lender.
How do you get a business loan with poor credit?
Start with financing that leans on something other than your score: equipment financing, where the equipment usually serves as collateral, or accounts receivable financing, which uses funds due from clients. Show strong, steady bank deposits. Note that 1West generally asks for a 600+ FICO score, so owners below that may need to rebuild credit first.
How long does it take to get business funding?
It depends on the product. As of November 2026, 1West lists time to fund of 1 week for equipment financing, 2 weeks for accounts receivable financing, and 2 to 3 weeks for real estate financing. SBA loans usually take longer because of added paperwork. These are listed estimates from 1West, not guarantees.
How we chose
We compared three ways to pay for equipment on the same criteria: what backs the financing, what each is best for, preparation, and figures 1West lists. The five steps are taken from 1West's own equipment financing page.
This page was written by 1West, which offers all three options.
Published by 1West. Read the full comparison methodology.
Keep comparing
This guide is one part of our side-by-side comparison of small business funding options. You can also read working capital vs SBA loan or check whether you are ready to apply.
Ready to compare real offers?
Apply once through 1West's ABLE intake to see financing options for your business. Applying does not guarantee approval, a rate, or a timeline. Financing is subject to lender approval and final terms.