What are the requirements to get equipment financing with good credit?

Review the cited answer and prepare the questions you want to ask. Use the checklist to organize the details you need to confirm before applying.

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Short answer

A‑tier borrowers with a 720+ FICO score and at least two years in business receive equipment financing rates of 7 % to 9 % APR in 2026.

A‑tier borrowers with a 720+ FICO score and at least two years in business receive equipment financing rates of 7 % to 9 % APR in 2026 (axiantpartners.com).

Credit score basics

Most equipment lenders require a personal credit score of 580 or higher as the minimum credit threshold (biz2credit.com).

Many equipment financiers look for a minimum personal or business credit score in the 600s, though some allow lower scores for leases with stricter terms (lendingtree.com).

A minimum personal credit score of 600 is commonly required, and businesses with scores of 680 + qualify for the most favorable equipment financing rates (bluegroupcapital.com).

  • Ask the lender to confirm the minimum personal credit score they accept.

  • Write down your current personal FICO score and compare it to each lender’s threshold.

Review Best Equipment Financing Options for Plumbers with Bad Credit: Head-to-Head Comparison 2026 while preparing questions for the lender.

Business history and cash flow

Typical equipment financing qualifications in October 2026 include a personal FICO of 600 + (575 + with specialty lenders), at least one year in business, and monthly revenue of $15,000 or more (baystreetlending.com).

Strong‑credit borrowers (700 + score, 2 + years in business) typically pay 8 %–12 % APR and may secure financing with 0 %–10 % down payment (smarterfinanceusa.com).

  • Gather documents that show how long you’ve been operating and your monthly revenue.

Review Best Equipment Financing Options for Startup Plumbing Contractors: Comparison 2026 while preparing questions for the lender.

Equity and ownership requirements

Crest Capital requires owners holding 20 % or more equity to have a personal credit score of 650 or better and at least two years under current ownership (crestcapital.com).

Because the equipment serves as collateral, lenders can be more flexible with credit requirements than for unsecured business loans (dimensionfunding.com).

  • Identify the percentage of equity you hold in the business and confirm it meets lender expectations.

  • Ask the lender what additional collateral, if any, they will require beyond the equipment itself.

Disclosures

This content is for educational purposes only and is not financial advice. plumbers.finance may receive compensation from partner lenders, which may influence which products are featured.

Sources

Related questions

How does equipment collateral affect credit requirements?

Because the equipment serves as collateral, lenders can be more flexible with credit requirements than for unsecured business loans.

What down‑payment options are typical for strong‑credit borrowers?

Strong‑credit borrowers (700 + score, 2 + years in business) typically pay 8 %–12 % APR and may secure financing with 0 %–10 % down payment.

Estimate your monthly loan payment

Estimated monthly payment
$1,575.14
Total interest over the term
$19,508
Total of payments
$94,508

Standard amortizing-loan (PMT) formula. Estimate only — your rate, term, and fees depend on credit and the lender.

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