Guide
Lease or loan for business equipment? How to decide
Both can get you the equipment you need. The right choice depends on your cash, your plans for the equipment and how long you will use it.
A loan: you borrow to buy the equipment
With an equipment loan, you borrow money to buy the equipment and repay it over a term. You own the equipment from the start, and the payments go toward paying off the loan.
A lease: you pay to use the equipment over a term
With a lease, you make regular payments to use the equipment over a term. A lease to own gives you a path to owning the equipment at the end, and the details depend on your agreement.
What about taxes?
Tax treatment varies by structure and business. Please speak with your accountant before you decide.
Questions to ask yourself
How it works
Three steps to your equipment.
Choose your equipment
Pick the equipment or asset your business needs from your dealer or supplier.
Apply in minutes
Fill out one simple online application. No finance jargon.
Get back to business
We work with you on the right option, so you can focus on running your business.
Common questions
Straight answers.
Which is better, a lease or a loan?
Neither is better for every business. It depends on your cash, your plans and how you will use the equipment. We help you compare the options.
How do I apply?
Fill out the online application. We review it with you and talk through the options that fit your business.
Is approval guaranteed?
No. All offers are subject to approval and credit review.