Partner With One of the Best
Pre-Qualify Fast
Get a decision quickly so you can move forward without delays.
Flexible Terms
Explore loan terms designed to help you manage costs effectively.
Wide Selection
Finance the machines, tools, or technology your business needs.
Preserve Capital
Spread out costs over time instead of paying everything at once.
3 Easy Steps to Equipment Financing
Get Started
Answer a few questions and see what options may fit your business.
Connect
Connect with a lending professional who can help review your goals.
Move Forward
See the path that makes the most sense for your business needs.
Compare your options and choose the loan that keeps your business moving.
Through our partnership with Fundera, every business owner can find the right financing solution. Even if it’s not with us.
| Compare Your Equipment Loan Options |
|
![fblake-logo[1]](https://loans.fblake.bank/hubfs/fblake-logo%5B1%5D.svg) |
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| Minimum Credit Score |
|
| 700+ Preferred |
600+ Options available for |
| Loan Amount |
|
| Starts at $150,000 |
Starts at $1,000 |
| Time in Business | |
| 3+ years Preferred |
1+ year |
| Term Length | |
| Up to 10 Years |
Depends on the lender |
| Collateral | |
| Often required | May not be required |
|
|
Some of the best US small businesses partner with us.
Read their stories and see how First Bank of the Lake turned business goals into reality.
Get your equipment loan questions answered.
Not sure if an equipment loan is right for you? Here are clear, straightforward answers to common questions business owners ask when exploring financing options.
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Why should I consider an equipment loan?
Open or Close
Upgrading your equipment or technology can help your business run more efficiently and stay competitive. An equipment loan allows you to get what you need now without tying up all your cash upfront.
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How much can I borrow?
Open or Close
Loan amounts start as low as $1,000, and for larger purchases, SBA-backed loans typically start at $25,000. Our team can help you find the right option based on your needs.
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Who qualifies for an equipment loan?
Open or Close
Most lenders look for at least one year in business, and SBA loans usually require 2+ years. A credit score of 600+ may qualify you, but a score of 700+ is preferred.
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Do I need collateral?
Open or Close
Some loans require collateral, especially for larger amounts. SBA loans may ask for it, while smaller loans sometimes don’t. We’ll help you understand what’s required for your situation.
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How long do I have to pay it back?
Open or Close
Terms vary depending on the loan. SBA 7(a) loans can offer longer repayment periods, which helps keep monthly payments manageable. Shorter-term options are available for smaller loans.
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Can I use the loan for any type of equipment?
Open or Close
Yes. Loans can cover machinery, technology, or other equipment that helps your business operate efficiently and grow.
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How fast can I get funding?
Open or Close
Funding time varies by loan type and lender. Smaller loans can sometimes be funded in days, while SBA loans may take a few weeks. Our team works with you every step of the way to speed up the process.
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Will this hurt my cash flow?
Open or Close
Equipment loans are designed to protect your cash flow. By spreading payments over time, you can invest in upgrades without disrupting daily operations.
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How do I get started?
Open or Close
Simply fill out our quick prequalification form, speak with one of our equipment loan specialists, and we’ll guide you through the best options for your business.
Proven expertise backed by industry-leading results.
Ranked in the
Top 1%
of SBA lenders nationwide*
Funded Over
+$1.1B
In SBA Loans from
2020-2024
Ranked
Top 5
SBA Franchise Lender*
Funded Over
2000
Loans
Disclosures
The information provided by NerdWallet is not reviewed or verified by First Bank of the Lake and is offered as-is. First Bank of the Lake does not endorse any credit options provided by NerdWallet and makes no representations or warranties regarding such credit options or the information provided by NerdWallet. You should consult your own financial, investment, tax, legal, and accounting advisors before engaging in any transaction. All third-party trademarks, service marks, trade names, and logos referenced in this material are the property of their respective owners.
Any external websites linked to this information are not managed by Bank. By clicking a third-party external link, you will be redirected to that third-party site that is not governed by the First Bank of the Lake Privacy Notice. First Bank of the Lake disclaims any liability for information you provide or is made available on any external link or content provided by or through any external link. These links are offered only for use at your own discretion.
First Bank of the Lake may earn an affiliate commission when you click on an external link or engage on a third-party site. NerdWallet may provide compensation to First Bank of the Lake for referring you to the financing products and services listed on the NerdWallet website. This compensation may impact how and where certain products and services on the NerdWallet website are offered to you. NerdWallet may not list all financing products and services available to you.
All loans are subject to credit approval. Restrictions and limitations may apply. First Bank of the Lake does not provide tax, legal or investment advice. All decisions concerning these matters should be made in conjunction with your professional advisors.
*Top 1% of SBA 7(a) lenders by approval amount during SBA fiscal year 2023. Top 5 SBA franchise lender by approval count during SBA fiscal years 2024 and 2023.
Approved to offer SBA loan products under SBA's Preferred lenders Program.
