Equipment Financing FAQs
Get Answers Fast
Looking to finance heavy gear without the headache? You’re in the right place. As a nationwide, trusted partner in equipment financing, Equipment Finance Services (EFS) cuts through the confusion. On this page, you’ll find straight answers about approvals, rates, payments, and credit — all so you can get funding and that hard-working machine faster.
Financing Basics
What is equipment financing, and how does it work?
Equipment financing lets you acquire the machines you need now — new or used — without draining your cash reserves. Instead of paying upfront, you spread the cost over time. At EFS, we specialize in used heavy equipment and offer 100% financing in many cases. We provide dynamic financing solutions so you can focus on growth, not cash flow.
What kinds of equipment can I finance through EFS?
If it lifts, digs, hauls, or builds — we finance it. From aerial lifts to earthmoving and material-handling assets, we’ve got you covered. We finance new and used equipment with no age-outs, from any manufacturer or dealer, nationwide. Our goal? Flexible financing that travels with you, wherever your next job takes you.
Application and Approval Process
How fast can I get equipment financing?
Often same-day approvals. Our goal is quick financing and equipment pickup whenever possible. You’ll sign electronically through our secure platform — no piles of paperwork, no waiting around. Just fast, friction-free funding.
Do you require a down payment?
Most EFS customers qualify for 0% down and 100% financing. You’ll also enjoy fixed monthly payments, so you know what you’ll owe from month to month (no surprises).
What do I need to apply for equipment financing?
All you need is:
- Basic business info (legal name, address, contact information, EIN).
- Details on the equipment you plan to get (quote/invoice).
- Consent for a credit evaluation and a completed credit application.
Established businesses may qualify for corporate-only financing. And good news:
We only run a soft credit check, so your personal credit score stays untouched.
Payments, Terms, and Rates
What are your equipment financing terms?
Looking for competitive equipment loan rates without jumping through hoops? We’ve got you. We offer terms ranging from 24 to 60 months, with fixed payments so you always know what’s ahead. We deliver same-day approvals for loan amounts ranging from $10,000 to $175,000, with larger deals funded up to $50 million+.
EFS operates in all 50 states and finances used heavy equipment from any manufacturer or dealer. We’re all about reliability, predictability, and transparency.
How are monthly payments calculated?
Use our Equipment Loan Calculator to estimate what your monthly payment could look like. Rates depend on your credit profile, term length, and equipment type, but our quotes are all-in and transparent.
When is my first payment due?
Payments start 30 days after your equipment is delivered, giving you time to put your new machine to work before your first bill arrives.
Flexibility and Special Situations
Can I finance used equipment?
Absolutely — used equipment financing is one of our specialties. We’ll finance operational used equipment with no age-outs, which means more options, better negotiations, and lower acquisition costs. We don’t limit you to specific brands or new models. You pick the machine that fits your needs, and we’ll take care of the financing.
Can I pay off my loan early?
Of course! Your payments are fixed, so paying early won’t reduce the total cost, but it can free up your balance sheet and reduce interest costs in some cases. We structure each deal so you have predictability, stability, and clarity from day one.
Can maintenance or attachments be included in my financing?
Yes! If your dealer offers maintenance or attachments, we can often roll those costs right into your loan. And when inventory is tight? The EFS team can help source attachments from our 350+ nationwide locations.
Working With Dealers
Can my equipment dealer work with EFS?
Yes — they may already! EFS partners directly with dealers across the country to make your process faster and simpler.
Through our nationwide dealer partnership network, you can access a massive nationwide inventory. Each machine undergoes a full Service, Parts, and Reconditioning (SPAR) inspection before sale, so you’re always getting reliable, work-ready equipment.
What if the machine I want is in another location?
No problem. Our team is happy to help coordinate transfers or next-day pickups. Our logistics and financing teams stay in sync, so funding is ready when the machine is. Many deals see same-day pickup or next-day delivery.
– Scott McDaniel, KBB Steel LLC
Ready to Get Started?
Start Your Financing Journey Today
Let’s turn your big goals into bigger moves. Apply online to get same-day approval and funding or use our calculator to see how affordable your next piece of equipment can be.
Are you a dealer or equipment provider? Partner with us to streamline your customers’ purchasing experience.
