Key Takeaways
- Equipment financing uses the equipment itself as collateral, making it more accessible than unsecured lending
- L-1 visa holders qualify based on business revenue and the equipment's useful life — not citizenship
- SBA equipment programs now exclude L-1 holders — Bankable provides the private alternative
- Up to $2M per equipment purchase; multiple simultaneous equipment loans are possible
- Finance new or used equipment; vendor financing programs available for dealers and OEMs
Equipment financing occupies a unique position in the business lending landscape: because the financed asset serves as its own collateral, lenders can approve transactions at lower rates and with fewer creditworthiness hurdles than unsecured products. For L-1 visa holders, this makes equipment financing one of the most accessible forms of business credit — even in the post-SBA landscape where citizenship requirements have eliminated government-backed options.
Bankable finances equipment across every major industry category: manufacturing CNC machines and presses, restaurant commercial kitchen equipment, medical and dental imaging systems, construction excavators and cranes, transportation trucks and trailers, technology servers and infrastructure, salon and spa equipment, fitness machines, and virtually any other asset with a determinable useful life and resale value.
How Equipment Financing Works
Equipment financing can be structured as either a loan (you own the equipment and make fixed monthly payments) or a lease (you use the equipment with options to purchase at the end of the term). For most L-1 holders who intend to own the equipment long-term, a loan structure is more cost-effective. Leases make sense for equipment that depreciates rapidly (technology) or where you want to upgrade frequently.
The loan-to-value ratio for equipment financing typically ranges from 80–100% of the equipment's purchase price or appraised value, whichever is lower. New equipment from established manufacturers typically qualifies for higher LTVs; older used equipment may require a larger down payment.
Equipment Categories We Finance
We finance virtually every major equipment category including: commercial kitchen equipment (ovens, refrigeration, dishwashers), construction equipment (excavators, lifts, compactors), manufacturing equipment (CNC machines, presses, conveyor systems), medical and dental equipment (imaging systems, chairs, lasers), transportation assets (trucks, trailers, vans, forklifts), technology infrastructure (servers, networking, security systems), agricultural equipment (tractors, harvesters, irrigation systems), and specialized equipment for beauty, fitness, veterinary, and other service industries.
New vs. Used Equipment
Bankable finances both new and used equipment. New equipment offers manufacturer warranties, known performance specifications, and typically qualifies for the highest LTV ratios. Used equipment from reputable dealers or auction houses can represent significant value if you understand the maintenance history. We require an independent appraisal for used equipment above $50,000 and may require a slightly larger down payment. Use our Bankability Score tool to assess your qualification and review financing alternatives for your specific equipment category.
Frequently Asked Questions
Yes. Equipment financing is available to L-1 visa holders through Bankable with no citizenship or green card requirement. The equipment serves as its own collateral, making this one of the most accessible forms of business credit for non-citizens.
Bankable finances equipment purchases from $10,000 to $2,000,000 per transaction. The amount depends on the equipment type, age, resale value, and your business revenue. We typically finance 80–100% of new equipment's purchase price.
With an equipment loan, you own the equipment and make fixed monthly payments until the loan is repaid. With a lease, you pay to use the equipment without owning it, typically with an option to purchase at the end. Loans are better for long-lived equipment you intend to keep; leases work better for technology that needs frequent upgrades.
New equipment from established manufacturers often qualifies for 100% financing with no down payment. Used equipment typically requires 10–20% down depending on age and condition. Your business credit history and revenue can affect the down payment requirement.
Yes. Bankable finances used equipment from dealers, auctions, and private sellers. For used equipment above $50,000, we require an independent appraisal. Used equipment may qualify for slightly lower LTV ratios than new equipment, requiring a small down payment.
We generally do not finance equipment with no verifiable resale market, consumable items with a useful life under 3 years, or equipment that is more than 15–20 years old depending on category. Highly specialized equipment with a very limited buyer pool may require a lower LTV or a larger down payment.
Equipment loan terms at Bankable range from 24 to 84 months (2–7 years) depending on the equipment type and useful life. Longer terms mean lower monthly payments but more total interest paid. We match the term to the equipment's expected useful life.
Yes, provided the equipment is being imported and installed in the US. We can time the funding draw to coincide with delivery and installation. International equipment financing may require an additional lead time and documentation of the import process.
Bankable offers sale-leaseback and equipment refinancing for owned equipment. If you own equipment outright, we can provide a loan using the equipment as collateral, giving you access to working capital while you continue using the asset.
Approval decisions take 48 hours. Full funding typically completes in 5–10 business days. For large transactions involving new equipment from a manufacturer, we can work with the dealer's delivery timeline to ensure funding arrives when the equipment does.