Equipment Financing
Get the equipment you need without paying for it all upfront.
Apply online in about 3 minutes. Get a decision from a funding specialist and funding in as little as 1 to 2 days. The equipment itself typically serves as collateral, which keeps the process simple.
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Funding up to $500,000
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Funded in as little as 1 to 2 days
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Minimal paperwork
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Fixed monthly payments
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The equipment secures the funding
Equipment financing
Minimum Requirements
These are the basic criteria to be eligible for equipment financing with Monark.
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$20,000 in monthly revenue
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650+ Credit score
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2 years in business
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Business bank account
How Equipment Financing Works
Equipment financing helps your business buy the machinery, vehicles or technology it needs, with the equipment itself serving as security for the funding. That usually means a lower upfront cost and fixed monthly payments you can plan around.
A simple example
Say you need a $60,000 commercial oven for a growing restaurant. Instead of paying for it all at once and draining your cash, you finance the purchase and make fixed monthly payments while the oven helps bring in new revenue. Your exact amount, term and payment depend on the equipment, your business and your agreement. We walk you through every number before you accept anything.
Who it is a good fit for
- Owners buying or upgrading machinery, vehicles, kitchen, medical or office equipment
- Businesses that want to keep cash free for payroll and day-to-day costs
- Owners with at least 2 years in business and steady monthly revenue
Equipment financing or merchant cash advance?
Equipment financing is for a specific purchase and is secured by that equipment. A merchant cash advance is flexible cash tied to your sales that you can use for anything. If you want one amount for any purpose on a fixed schedule, see our term loan option. A funding specialist can compare them for your situation at no cost and with no obligation.
What happens after you apply
- Apply online in about 3 minutes.
- Get a decision from a funding specialist, often the same day.
- Review your offer with no obligation to accept.
- Get funded in as little as 1 to 2 days after you accept.
Ready to see what you qualify for? See My Options or call (954) 355-6622.
Speak to a funding specialist
Speak with a funding specialist to see what you qualify for. No obligation.
Frequently asked questions
Equipment financing is funding for a specific equipment purchase, with the equipment itself serving as security. You make fixed monthly payments over a set term.
Common examples include kitchen equipment, vehicles, machinery, medical devices, and office or computer technology. Ask a funding specialist about your specific purchase.
A term loan can be used for any business purpose. Equipment financing is tied to one purchase and secured by that equipment, which can shape the terms you are offered.
Typically 2 years in business, $20,000 in monthly revenue and a 650 or higher credit score. A funding specialist reviews your full picture.
Many owners are funded in as little as 1 to 2 days once a decision is made and documents are in. Timing depends on your business and how quickly we receive your documents.
It usually doesn’t affect your credit score. In some cases a soft credit check may be used, and we’ll let you know first.