Business equipment financing
Business equipment financing lets a company buy or lease the gear it needs now and repay over a fixed term, with the equipment usually serving as collateral.
1West offers business equipment financing for used or new equipment, with most equipment types eligible, including software. Through ABLE, the 1West Automated Business Lending Engine, one application is matched with lenders whose programs fit your credit, revenue and the asset. It suits established businesses with steady deposits that need one specific asset.
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Almost any asset your business uses to earn revenue. The 1West equipment financing page groups the most common requests into four categories, and its blog also covers daycare, laundromat and food truck equipment.
| Category | Examples |
|---|---|
| Construction and heavy equipment | Excavators, loaders, skid steers, dump trucks |
| Restaurant and food service | Ovens, refrigeration, POS systems, full kitchen packages |
| Medical and dental | Imaging, exam and lab equipment |
| Technology | Computers, servers, phone systems, software |
The one firm exclusion 1West lists is leasebacks: you cannot finance equipment your business already owns. If you need cash against assets you already hold, look at other 1West products such as unsecured working capital or accounts receivable financing instead.
Definition
Business equipment financing is a loan or lease dedicated to one purchase. With 1West, the lender usually pays the vendor directly, the equipment secures the deal, and you make fixed payments over a term of 5 to 60 months. When the loan is repaid, the lender releases its claim and you own the equipment outright.
Because the asset reduces the lender's risk, equipment financing can be easier to qualify for than an unsecured loan of the same size.
Figures as listed on the 1West equipment financing page, as of November 2026. General 1West requirements: at least six months in business, four months of business bank statements, monthly revenue of $20,000 or more and a 600+ FICO score. Rates and terms are set by the lender and are not guaranteed.
Lenders want confidence that your cash flow can carry one more payment and that the equipment holds enough value to secure it. 1West lists general requirements for applicants:
Lenders may ask for more on larger requests, such as tax returns or financial statements. Market context helps here: Fora Financial notes that online lenders may approve in hours with three months of bank statements, while SBA loans take weeks and require two years of documentation (Fora Financial). Meeting the general requirements does not guarantee approval.
Equipment financing for a new business is harder to arrange because lenders lean on bank statement history. Since 1West generally asks for six months in business and $20,000 in monthly revenue, a brand new company usually will not meet those requirements yet. Practical options in the meantime include vendor or dealer programs, saving toward a larger down payment, or looking into SBA programs. Once you have six months of deposits, come back with a clean vendor quote and apply.
The trade-off is interest cost. Paying cash avoids interest entirely, so compare the total of payments against what that cash would otherwise do for your business. Our costs and payment estimator helps you run the numbers.
Ready with a quote and four months of statements?
Apply through ABLEShort answers here. Every question has a fuller home in the equipment financing FAQ.
Almost any asset your business uses to earn revenue can be considered. 1West lists construction and heavy equipment, restaurant and food service gear, medical and dental equipment, and technology such as computers, servers, phone systems and software. Its page also mentions vehicles and furniture. Each lender decides which specific assets its program accepts.
Read this answer in the FAQYes. 1West says most equipment types are eligible for its equipment financing, including software. Software has less resale value than a truck or an oven, so individual lenders may set different terms or ask for more documentation. Include the vendor quote, the license term and any installation or training costs on the invoice you submit.
Read this answer in the FAQUsually, yes. 1West explains that the equipment itself typically serves as collateral for an equipment loan, so if payments stop the lender can claim the asset. Some lenders may also ask for a personal guarantee or a down payment, so read each offer to see exactly what secures it before you sign anything.
Read this answer in the FAQIt is harder. 1West generally requires at least six months in business and $20,000 or more in monthly revenue, so a brand new business usually will not meet its general requirements yet. Startups may look at vendor programs, SBA options or saving for a larger down payment, then return once they have bank statement history.
Read this answer in the FAQ1West highlights construction, restaurants and food service, medical and dental practices, and technology users on its equipment page, and its blog also covers daycare, laundromat and food truck equipment. Any business that earns revenue with physical gear or software can consider equipment financing, as long as the asset fits a lender's program.
Read this answer in the FAQThe 1West general requirement is monthly revenue of at least $20,000. Lenders use revenue to judge whether your cash flow can cover a new payment alongside existing bills. If your revenue is seasonal, submit statements that show the full pattern and be ready to explain slower months to your advisor.
Read this answer in the FAQBack to the full guide to equipment financing for small business
Apply once through ABLE, the 1West Automated Business Lending Engine, any time of day, and compare the offers that come back. Eligibility, rates and final terms depend on the lender.
