APPROVE’s large network of lenders is constantly growing, however, our technology matches your application with the lender(s) most likely to offer you the best rates based on your business type and credit profile. If more than one lender is a good fit for your business and credit profile, you may receive competing offers to compare.

There is no impact to your personal credit, unless a personal guarantee is required. Personal guarantees will have an inquiry on their credit by some lenders. Because these credit inquiries happen in a short timeframe, and for the same products, credit bureaus recognize them as part of a normal shopping process and will view them as a single credit inquiry by lenders.

Established businesses with strong commercial credit can be approved instantly. If lenders need additional information from you, the quicker you provide the required information the sooner a decision will be made. It’s not unusual for decisions to be made within hours, once the necessary information has been gathered.

Equipment financing is available to any business or organization that qualifies, including corporations, partnerships, LLCs, sole proprietorships and non-profits. Equipment financing is not available to consumers who desire to use the equipment only for personal use.

The cost of financing can vary greatly depending on many different factors, including your business credit, industry, time-in-business and additional guarantees that may be pledged. Generally, equipment financing ranges from a 5% to 25% equivalent APR. That said, our approach to using a network of lenders assures you will achieve the lowest cost of financing possible.

Currently, equipment financing is only available to companies based in the United States and who intend to keep the equipment in the United States.

The minimum value of equipment that can be financed is $1,500. On the other hand, there is no maximum amount and our lender network can offer competitive rates on equipment values into the millions.