Equipment financing: pick by asset class, not just rate
Crest Capital, Balboa, Beacon Funding, Currency Capital. 4 questions.
Lender fit by asset
| Asset / situation | Best fit | Why |
|---|---|---|
| General purpose, broad asset coverage | Crest Capital | Wide asset class coverage, app-only up to $250k, fast |
| Manufacturing / industrial heavy | Balboa Capital | Strong manufacturing book + working capital combos |
| Tow trucks / commercial fleet / vocational | Beacon Funding | Specialty in vocational vehicles and used fleet |
| Used / dealer-network heavy | Currency Capital | Dealer marketplace integrations; used equipment fluent |
FAQ
- Equipment loan vs lease?
- Loan = own at end, depreciate, build equity. Lease = lower monthly, return at end (or buy out for $1 / FMV). For long-life heavy equipment, loan usually wins. For tech that depreciates fast, lease can be smarter.
- Can I qualify with under 2 years in business?
- Yes, but expect higher rate and possibly personal guarantee. Crest and Currency are the more flexible on time-in-business; Balboa likes 2+ years.
- Why not just SBA?
- SBA is cheaper but slower (60-90 days) and document-heavy. Equipment finance is 3-10 days, app-only under $250k, but rate is 100-300 bps higher.
Want a personal intro to the right vendor?
Tell us your situation and we'll forward your details to the matched vendor — they'll follow up with you directly. Same price either way; we earn a referral fee from the vendor only if you sign up.