Used Equipment Financing
Simple application. Simple process.
Used equipment financing made easy.
Used equipment might be slightly outdated or show signs of wear and tear, but it still does the job. If you are in the market for used business equipment and need funding to acquire it, you have come to the right place. Balboa Capital is a top-rated small business lender that offers used equipment financing, and we make the entire process easy.
Used equipment, also referred to as pre-owned or refurbished equipment, typically goes through a multi-step inspection process to ensure that everything is in good working condition. If any faulty parts are present, they are replaced and tested to make sure the equipment works properly. Used equipment financing is quite popular among small business owners nationwide, many of whom look to Balboa Capital when they need fast, hassle-free funding.
- Application-only for hard collateral up to $500,000
- Application-only for soft collateral up to $350,000
- If approved, same-day funding is available
- Easy online application
- One-hour approval decisions during regular business hours
- Flexible terms available
- Competitive rates
Equipment financing in 3 easy steps.
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Submit a simple online application.
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Get a prompt decision during our normal business hours.
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If your application is approved, funds will be provided fast.
What we look for.
Minimum of one year in business
$100,000+ in annual revenue
FICO score of 620 or more
These are some of our minimum lending requirements, and meeting them does not constitute approval.
Should you apply for equipment financing, additional lending criteria will determine if you qualify.
Apply for funding in a matter of minutes.
You have a business to run, so you can’t afford to waste time trying to get funding to finance used equipment, vehicles, software, or technology. With Balboa Capital, you won’t. You can apply for equipment financing from your computer or mobile device. We keep our application simple so you can complete it quickly.
If your application is approved and you decide to move forward, one of our helpful equipment financing specialists will contact you to discuss your options and answer any questions you have. Balboa Capital offers competitive rates, flexible repayment terms, and rapid turnaround times.
Financing used equipment is a smart business move.
In addition to having a lower price point, used business equipment often offers special discounts or promotions. For example, you might be able to negotiate a better deal because suppliers and vendors are always eager to move used equipment off their lots and showrooms to make room for new equipment. As a result, you can get a piece of fully functioning used equipment for a great low price.
You can even finance used equipment and take advantage of the Section 179 tax deduction, so long as the equipment is eligible. Contact your accountant or business attorney to find out if the used equipment you are interested in qualifies for the Section 179 deduction.
Get funding to finance used equipment fast.
Balboa Capital has several term options available, and your dedicated account manager will help you select the best one for your unique needs.
Once you are approved, we can provide you with funding quickly. We fund over 96% of our approved equipment financing deals on the same day that applications are submitted (during our regular business hours.)
Reasons to choose Balboa Capital.
Lender with an A+ BBB rating
Over $7 billion funded nationwide
Simple, quick process
Make sure you buy from a reliable vendor.
When looking at used equipment, it is a good idea to visit vendors with a nice-sized selection and a good reputation in the marketplace. Ask for referrals from your peers and look for online reviews to narrow your search. When you visit a vendor showroom, find out as much as possible about the used equipment you are interested in buying.
Ask if it was reconditioned or rebuilt and if a warranty is available. To help alleviate any concerns you might have, ask if an authorized service agent can inspect the equipment to ensure it works as advertised.
Helpful equipment financing links.
IRS 1099 Form guide
If your business pays freelancers, you need to report it.
Understanding return on assets (ROA)
Learn how to calculate ROA and interpret the results.
Choosing an equipment financing company
What to look for in a lender that offers equipment financing.
