Equipment Financing FAQs

General Equipment Financing Questions

What is the difference between an equipment loan and equipment financing?

An equipment loan is a specific type of financing where you borrow money to purchase equipment, with the equipment serving as collateral. You own the equipment immediately. “Equipment financing” is a broader term that includes equipment loans, equipment leases, equipment finance agreements (EFAs), and other structures. At Trident Leasing Corp, we offer multiple financing structures to find the best fit for your business.

How long does my business need to be in operation to qualify?

Your business must have been in operation for at least 2 years to qualify for equipment financing through Trident Leasing Corp. This requirement helps us ensure that businesses have an established track record and sufficient history to demonstrate their ability to service the financing.

What is the minimum amount I can finance?

The minimum equipment financing amount is $10,000. There is no set maximum — we regularly finance equipment purchases of $100,000, $500,000, and above. The financing amount typically depends on the equipment cost, your business financials, credit history, and the type of financing structure selected.

How quickly can I get approved?

Many applications receive a decision within 24 to 48 hours. Larger or more complex transactions may take longer. Once approved and documents are signed, funding typically occurs within a few business days.

What types of equipment can be financed?

We can finance virtually any type of business equipment, including: construction equipment, commercial vehicles, medical and dental equipment, restaurant equipment, manufacturing machinery, CNC equipment, agricultural equipment, HVAC systems, printing equipment, technology and IT infrastructure, warehouse equipment, and much more. If your business uses it to generate revenue, we can likely finance it.

Can I finance used equipment?

Yes! We can finance both new and quality used equipment. Used equipment financing is commonly used for construction machinery, commercial vehicles, and manufacturing equipment where quality pre-owned equipment can provide excellent value.

What are the typical loan terms?

Equipment loan and financing terms typically range from 12 to 84 months (1 to 7 years). The optimal term depends on the equipment type, its useful life, your cash flow needs, and the financing structure. Our specialists will help you choose a term that balances monthly payment affordability with total cost.

Are there tax benefits to equipment financing?

Yes, equipment financing often comes with tax advantages. Under Section 179 of the IRS tax code, businesses may be able to deduct the full cost of financed equipment in the year it was placed in service. Additionally, bonus depreciation rules may allow accelerated deductions. Interest paid on equipment loans is generally also tax-deductible. We recommend consulting with your tax advisor for guidance specific to your situation.

How do I get started?

Getting started is easy. Simply fill out our free quote request form. Provide your contact information, business details, and the type of equipment and amount you need. A Trident Leasing Corp specialist will review your request and contact you within 1 business day to discuss your options.