1West equipment
Equipment financing
Last updated: November 2026
How does business equipment financing work?
Business equipment financing is a loan or lease for a specific piece of equipment, and the equipment usually serves as the collateral.
Through 1West, equipment financing covers new or used vehicles, construction machinery, kitchen gear, medical devices, technology, and most other equipment types, including software. 1West lists amounts from $10K to $5M, terms of 5 to 60 months, and funding in about one week, with final terms set by the lender.
Equipment financing at a glance
- Rate as low as
- 7%, as listed by 1West
- Term
- 5 to 60 months
- Amount
- $10K to $5M
- Time to fund
- About 1 week, as listed by 1West
- Eligible equipment
- New or used; most types, including software
- Not eligible
- Leasebacks of equipment you already own
Figures as listed on the 1West equipment financing page, as of November 2026. "As low as" rates are not a quote; your rate depends on the lender and your file.
What is equipment financing?
Equipment financing lets a business get the tools it needs now and pay for them over time, instead of saving a large lump sum first. Because the equipment itself usually secures the loan, 1West notes that lenders can often approve businesses that would not qualify for an unsecured loan, and rates tend to be lower than on many other forms of small business funding.
When it is a strong fit
- Buying a specific machine, vehicle, oven, or device
- Businesses that want the asset to secure the loan
- Upgrading technology or software that earns revenue
When another option fits better
If you want flexible cash for many small purchases, a line of credit may fit better. If you already own the equipment and want to borrow against it, note that 1West equipment programs do not offer leasebacks.
The equipment secures the loan, which is why approval can be within reach for businesses that would not qualify unsecured.
What equipment can you finance?
Almost any asset your business uses to earn revenue. Common categories 1West lists include construction and heavy equipment such as excavators, loaders, skid steers, and dump trucks; restaurant and food service equipment such as ovens, refrigeration, and POS systems; medical and dental imaging, exam, and lab equipment; and technology including computers, servers, phone systems, and software.
Loan or lease: which fits?
A loan means you own the equipment once it is paid off. A lease can lower the payment and may suit equipment that becomes outdated quickly. Ask each lender how ownership, end of term options, and any down payment work before you choose.
How to apply for equipment financing
Get a quote
Ask the vendor or dealer for a quote or invoice for the equipment you need, new or used.
Apply once
Submit one application with 1West. ABLE matches your business with lenders whose equipment programs fit your credit, revenue, and the asset.
Compare offers
Review rates, terms, and any down payment side by side, and choose the structure that fits your cash flow.
Get the equipment
In most cases the lender pays the vendor directly, so you can put the equipment to work right away.
Repay over time
Make fixed payments over the term. Once the loan is paid off, the lender releases its claim on the equipment.
Official product details: Equipment financing on 1west.com. Compare every option on our small business funding options page.
Questions about equipment financing
- Is the equipment the collateral in equipment financing?
- Usually, yes. In equipment financing the equipment itself typically serves as collateral, which is why 1West notes that lenders can often approve businesses that would not qualify for an unsecured loan. Once the loan is paid off, the lender releases its claim on the equipment.
- Can I finance used equipment?
- Yes. 1West equipment financing covers used or new equipment, and most equipment types are eligible, including software. Leasebacks are not offered, meaning you cannot lease back equipment you already own. Start with a quote or invoice from the vendor or dealer.
- What credit score is needed for a business loan?
- The credit score needed for a business loan depends on the lender and product, but 1West generally looks for a FICO score of 600 or higher. A higher score can open more options and better terms. Collateral backed products, like equipment or receivables financing, may weigh other factors more heavily than credit alone.
- What documents are needed for a business loan?
- For most applications through 1West, the core document is four months of business bank statements. Depending on the product, lenders may also request tax returns, financial statements, a debt schedule, equipment quotes, or details of outstanding invoices. SBA and real estate loans usually need the most documentation, so organize those early.
- How can you reduce your total loan cost?
- You can reduce your total loan cost by borrowing only what you need, choosing the shortest term your cash flow can handle, comparing several offers on total repayment, asking about prepayment savings, and improving your credit before applying. Applying once through 1West lets you compare multiple offers side by side, which is the simplest place to start.
Other 1West financing options
Compare equipment financing offers with one application
ABLE accepts applications 24/7 and the 1West team helps you weigh the offers you receive.
Eligibility and final terms depend on the financing product and lender. No approval, rate, or timing is guaranteed.