Ovens, lifts, trucks and machines that earn their payment
Equipment loans
Buy or replace the equipment your business runs on with one fixed monthly payment. We don't take the equipment as specific collateral.
- Typical amount
- $25,000 to $350,000
- Typical term
- 12 to 48 months
Checking your rate is a soft credit pull and won't affect your credit score.
When this loan makes sense
When a compressor dies in July or a second oven means a second seating, waiting six weeks for a bank decision costs real money. An equipment loan from Crescent is a term loan you can use to buy new or used equipment from any seller.
We do not take the equipment as specific collateral, so it stays yours from day one. On loans over $150,000 we file a standard blanket UCC-1 statement, which is released when you pay off.
A good fit for
- Replacing a broken unit that is costing you sales every day
- Adding capacity: a second oven, another lift, one more truck
- Buying used equipment that a leasing company will not touch
- Swapping an expensive equipment lease for a loan you own outright
Not the right tool for
- Equipment that will not pay for itself before the loan ends
- Buying ahead of demand you have not seen yet
- Vehicles for personal use
Not sure? See when a loan helps, and when it doesn't.
How it works
The details that matter for this job
01
Longer terms available
Terms up to 48 months for Prime profiles, so the payment can line up with the life of the equipment.
02
Any seller, new or used
Funds go to your business account. Buy from a dealer, an auction or another business.
03
No specific collateral
The equipment is never pledged to us. A standard blanket UCC-1 is filed only on loans over $150,000 and released at payoff.
The cost, in dollars
A representative example, worked all the way through
Representative example
Example only
- Loan amount
- $90,000
- Term
- 36 months
- APR
- 19.4%
- Monthly payment
- $3,317
- Total interest
- $29,422
- Origination fee (3%)
- $2,700
- You receive
- $87,300
- Total cost of borrowing
- $32,122
- Total repaid
- $119,422
Illustration only, not an offer. Uses the midpoint of the Strong profile's APR range at 36 months. Your APR, payment and total cost depend on your profile, amount and term.
Example APR ranges at 36 months
The same published bands price every loan. Here is where each profile lands at this term.
-
Prime
740+ credit
12.4%–16.4% APR
-
Strong
690–739 credit
16.4%–22.4% APR
-
Established
650–689 credit
Terms up to 24 months
-
Building
620–649 credit
Terms up to 18 months
Fees on this loan
- Origination: 3% one-time, deducted from the funds you receive
- Late payment: $25 after a 10-day grace period
- Returned payment: $15 if an ACH bounces
- No application, maintenance or prepayment fees
A borrower review
Sample review
“I've had lenders quote me a '1.24 factor' and let me do the math wrong. Crescent quoted an APR and a cents-per-dollar figure. It was more expensive than my bank, and they said so. But the bank needed six weeks and my compressor didn't have six weeks.”
Darnell Whitfield
Whitfield Heating & Air · Aurora, CO
$45,000 · 18 months · equipment
A sample review written for this design demo, not from a real borrower.
Read more borrower reviewsQuestions about equipment loans
Do you pay the equipment seller directly?
No. Funds go to your business bank account by ACH, net of the 3% origination fee, and you pay the seller. That keeps you in control of the deal and lets you buy from anyone.
Should I choose the longest term to keep the payment low?
Only if you need to. The APR range steps up with longer terms and you pay interest for more months. Pick the shortest term your monthly cash flow is comfortable with, and try both in the calculator first.
Is a lease better than a loan?
Sometimes. A lease can make sense for equipment that goes out of date fast. A loan usually costs less over the life of equipment you plan to keep. Ask the leasing company for the APR and compare it with ours in dollars.
More answers on the full FAQ, including missed payments and personal guarantees.
See your own numbers
The application opens with this loan's example already filled in. Change anything and the total cost updates as you go.