Program review
Closer Capital Equipment Financing Review (2026)
Closer Capital's equipment financing funds $25K to $2M+ of trucks, machinery, or gear in days. Collateral keeps rates down and Section 179 helps.
By Closer Capital Reviews · Last updated August 2026 · How we make money
Why this score:The best risk-adjusted deal on the menu, because the equipment secures the loan, so rates start near 6% and approval is easier than any unsecured product.
How the score is produced:Our ratings are our own assessment, scored against the program's published terms and eligibility bars. We are compensated as an affiliate, and our ratings range from 4.0 to 4.6 rather than 5.0 because the programs differ. Read the full rating methodology.
Closer Capital's equipment financing covers $25,000 to $2 million or more for commercial trucks, construction machinery, CNC equipment, medical imaging, restaurant build-outs, servers, and similar assets. Terms run 12 to 84 months matched to the useful life of the equipment, APRs generally sit between 6% and 30%, and down payments range from 0% to 20% depending on credit profile and equipment condition.
Because the equipment itself is the collateral, this is the easiest business program here to qualify for at a given credit score and the cheapest non-SBA money on the menu. Our take: if the capital is buying a specific asset, finance the asset instead of drawing on a line of credit. The Section 179 deduction, up to $1.16 million for 2026, can improve the first-year math further, though that is a CPA conversation and not a lending promise.
Published by Closer Capital Reviews, a review site compensated through Closer Capital’s affiliate program. We are not Closer Capital, we do not take applications, and we do not make funding decisions. Last updated August 2026. How we research and rate.
Equipment Financing at a glance
Every number below is reproduced from Closer Capital’s own published material for this program. These are the company’s figures, not independently verified by us. Because Closer Capital is a broker, the funding partner that takes a file sets the final terms, so treat these as ranges rather than as a quote.
| Loan amounts | $25,000 to $2M+ depending on equipment type and business strength |
|---|---|
| Terms | 12 to 84 months, aligned to the useful life of the equipment |
| Rates | APR typically 6% to 30% based on credit and equipment type |
| Down payment | 0% to 20% depending on credit profile and equipment condition |
| Speed | Approval in 24 to 72 hours, funding in roughly 1 to 7 business days once the equipment is valued |
| Eligibility | 2 years in business (1 year with strong credit), 650+ credit. Some lenders go to 600 when equipment value and cash flow are strong |
| Best for | Buying or replacing revenue-producing equipment without draining working capital |
| Watch-outs | Used equipment is usually capped around 2 to 5 years old and prices higher, and on a loan you carry the maintenance and obsolescence risk |
Company claim
Closer Capital states 1+ year in business, $100K+ annual revenue, 600+ credit score.
Source: Closer Capital's published baseline eligibility. We have not independently verified this figure.
How the Equipment Financing program actually works
Equipment financing is secured lending. The machine you are buying doubles as the collateral, which is why it approves faster and prices lower than an unsecured loan at the same credit score.
Get the quote first
Underwriting is built around the specific asset, so a vendor quote or invoice with make, model, year, and price moves the file. New and used both qualify, with used equipment typically capped around 2 to 5 years old.
Choose financing or leasing
Financing means you borrow to purchase and own the equipment from day one, building equity and qualifying for Section 179. Leasing means lower monthly payments with the option to buy, return, or upgrade at the end, at a higher total cost over the life of the asset.
Approve and fund the vendor
Approval typically comes in 24 to 72 hours because the collateral is straightforward to value. Funds are disbursed and you make fixed payments over a term matched to how long the equipment will actually earn.
Equipment Closer Capital finances includes transportation (trucks, trailers, vans, fleet vehicles, buses), construction (excavators, bulldozers, cranes, forklifts, paving equipment), manufacturing (CNC machines, assembly lines, industrial ovens), medical (MRI, CT, X-ray, dental, lab), restaurant (ovens, refrigeration, POS, food prep), and technology (servers, telecom, security systems).
The Section 179 angle
- Section 179 lets a business deduct the full purchase price of qualifying equipment bought or financed during the tax year, up to $1.16 million for 2026.
- Closer Capital's worked example: a contractor finances $150,000 in excavation equipment and deducts the full $150,000 in year one.
- Estimated tax saving in that example: roughly $30,000 to $50,000 depending on bracket.
Tax outcomes are not a lending guarantee and the limit changes. Confirm the current cap and your eligibility with the IRS or your CPA before you count on it.
Pros and cons, honestly
The case for and against this specific program, including the parts a sales page would leave out.
+ What holds up
- The equipment is the collateral, so approval is easier at a given credit score than any unsecured Closer Capital product.
- Rates start around 6%, the lowest non-SBA pricing on the menu.
- Down payment can be 0% with a strong credit profile, so working capital stays where it is.
- Terms stretch to 84 months and are matched to the useful life of the asset, which keeps payments proportional to what the equipment earns.
- Both new and used equipment are eligible, which materially lowers the entry price.
- You own the asset from day one, build equity, and can resell or trade it in once the loan is retired.
- Section 179 can allow a full first-year deduction of the purchase price, subject to the current limit.
- It preserves your line of credit for actual cash flow gaps instead of consuming it on a capital purchase.
- What to know before you apply
- The 650+ credit score and 2 years in business are a higher bar than the line of credit requires.
- Used equipment carries higher rates, shorter terms, and age limits, typically 2 to 5 years old at most.
- On a loan rather than a lease, you carry maintenance and obsolescence risk. If the technology moves, you own the outdated machine.
- Funding is slower than a line of credit draw because the asset has to be identified and valued first.
- The top of the 6% to 30% APR band is not cheap, and where you land depends on credit and equipment type.
- The equipment secures the loan, so default means losing the asset your business runs on.
- Leasing looks cheaper monthly but usually costs more in total, and you do not own anything until the buyout.
Should you pick this or a different Closer Capital program?
Choose equipment financing any time the capital is buying a titled, valuable, identifiable asset. Using an unsecured product for the same purchase means paying a higher rate for no reason, because you are declining to use collateral you are about to own anyway.
Every program we review: Business Line of Credit, Business Term Loan, SBA Loans, Real Estate Lending, Commercial Lending, Personal Loan Funding, and ourfull Closer Capital review.
Equipment Financing FAQ
The questions people search before they apply for this program, answered straight.
What is the difference between equipment financing and equipment leasing?
Equipment financing is a loan. You own the equipment immediately, make fixed payments until it is paid off, build equity, and can claim Section 179. Leasing is a rental with an option to buy, return, or upgrade at the end. Leasing means lower monthly payments and easier upgrades, but a higher total cost and no ownership until you exercise a buyout.
Can I finance used equipment?
Yes. Both new and used equipment qualify, though used equipment typically has to be no more than about 2 to 5 years old and comes with slightly higher rates and shorter terms. Lenders assess value, age, and condition. For many buyers used equipment is still the better total-cost decision.
How fast can I get approved for equipment financing?
Approval typically takes 24 to 72 hours because the equipment serves as collateral, which is faster than unsecured underwriting. Funding generally follows within a few business days, with about a week being a realistic outside estimate once the asset has been valued.
Can I get equipment financing with bad credit?
Equipment financing is the easiest business program here to qualify for at a weaker credit score, precisely because the equipment secures the loan. The stated requirement is 650+, but some lenders accept scores as low as 600 when cash flow and equipment value are strong. Lower scores get funded at higher rates, not at the best rates.
How does the Section 179 deduction work with financed equipment?
Section 179 allows a business to deduct the full purchase price of qualifying equipment purchased or financed during the tax year, up to $1.16 million for 2026. Because it applies to financed equipment and not just cash purchases, the deduction can exceed what you paid out of pocket in year one. Confirm the current limit and your eligibility with your CPA before you plan around it.
Applying goes to Closer Capital, not to us
Closer Capital states that prequalifying does not require a credit pull, that submitting is free, that a person reviews each file, and that one application is matched against all seven of its programs. Closer Capital Reviews is a review publication: we do not receive applications or decide funding, and we are paid a commission by Closer Capital if a referred application is funded.
Apply with Closer CapitalAbout this review
Maintained by Closer Capital Reviews, a review site that participates in Closer Capital’s affiliate program (see ouradvertising disclosure). We are not Closer Capital. Program details on this page, including amounts, terms, rate ranges, timelines, and eligibility, were verified against the published Equipment Financing program page on closercap.com. Our rating and commentary are our own, scored as set out in our rating methodology.
Closer Capital is a funding brokerage rather than a direct lender, so the final rate, term, and fees on any offer are set by the funding partner that takes your file and can change at any time. Confirm your numbers in writing before you sign. Spot something out of date or have your own experience with this program? Emailinfo@closercapitalreviews.comorsubmit a review.
Last updated August 2026. Program details verified against closercap.com.