Guide · Business
Equipment financing: grow without emptying the account
A truck, a machine or a restaurant kitchen can cost more than it makes sense to pay all at once. Financing it leaves the business money free to run.
How does it work?
The equipment itself is the collateral. You can finance one or several pieces in one deal, with 3- to 7-year terms, fixed rates and monthly payments. There are no industry restrictions.
What does it take?
Under Lexington's general guidelines: 1 year in business, a credit score of 600 or higher, at least $120,000 a year in sales, an invoice or quote for the equipment and your last 4 months of bank statements.
A note on taxes
In many cases business equipment can be written off as an expense. Every case is different, so ask your tax professional before you decide. Kevin is not a tax advisor.
The truth: the right equipment pays for itself. Before you finance it, work out how much more it will produce or save you every month.
See the requirements for Equipment financing · All guides
These are Lexington Capital's general guidelines and can change. This guide is education, not an offer of credit.
Is this a fit for you?
Answer a few quick questions to see which programs may fit, or talk with Kevin directly.
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Financing is provided by Lexington Capital, not by Kevin or Retire With Kevin. Kevin is a referral partner of Lexington Capital, not a lender, and may receive a referral fee. Lexington Capital reviews every application and makes all credit decisions. Not every applicant is approved, and terms depend on the lender and your situation.