Equipment financing is one of the most widely used forms of business lending in the United States — and for good reason. Rather than depleting cash reserves to buy machinery outright, businesses across every sector use financing to preserve working capital, spread costs over time, and stay competitive with updated technology. But what equipment do businesses actually finance the most? The answer varies significantly by industry, and the data tells a compelling story about where American businesses are investing in growth.
This guide presents a comprehensive breakdown of the most commonly financed equipment by industry in 2026, drawing on lending data, industry surveys, and financing volume trends. Whether you operate in construction, healthcare, food service, transportation, or manufacturing, understanding these financing patterns can help you benchmark your own investment decisions — and recognize when equipment financing may be the smartest move for your business.
In This Article
According to the Equipment Leasing and Finance Association (ELFA), over 80% of U.S. businesses use some form of equipment financing. The total U.S. equipment finance market exceeds $1 trillion annually, making it one of the largest segments of commercial lending. Equipment financing provides a direct path to the machinery, vehicles, and technology that drive revenue — without the cash flow disruption of paying the full purchase price upfront.
The appeal is straightforward: a piece of equipment is often the asset that generates the revenue needed to pay for itself. A restaurant kitchen upgrade enables more covers per night. A CNC machine enables more precision manufacturing jobs. A commercial truck enables more delivery routes. Equipment financing allows businesses to put revenue-generating assets to work immediately while spreading the cost over months or years.
Key Stat: The Equipment Leasing and Finance Association reports that equipment and software investment in the U.S. exceeded $3.4 trillion in 2024, with equipment financing facilitating over 79% of all new equipment acquisitions across major industries.
Understanding which equipment is most commonly financed by industry also matters for lenders. Equipment with strong secondary market values — like commercial vehicles, medical devices, and construction machinery — typically receives favorable financing terms because the asset itself serves as collateral. Knowing your equipment's position in that landscape can help you negotiate better loan terms.
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Apply Now →Construction is the undisputed leader in equipment financing volume. The industry relies on an enormous range of heavy machinery — and unlike software or office equipment, construction equipment is both expensive and absolutely necessary to perform the work. No bulldozer, no project.
The Equipment Leasing and Finance Association estimates that construction accounts for approximately 12-15% of total U.S. equipment financing volume by dollar value — the single largest industry segment. The cyclical nature of construction work also makes financing particularly attractive: contractors finance equipment when work is plentiful and can structure payment terms to match project cash flows.
Pro Tip: Construction equipment has strong resale value, which makes lenders more willing to finance a higher percentage of the purchase price — often up to 100% for well-maintained, in-demand equipment models.
Transportation is the second-largest equipment financing segment by dollar volume. Every truck, van, and trailer on the road represents a financed asset in the overwhelming majority of cases. The U.S. trucking industry alone moves 70% of all freight in the country, and the equipment required to do that work is financed through a combination of lenders including banks, equipment finance companies, and direct lenders like Crestmont Capital.
The American Trucking Associations reports that there are over 3.5 million truck drivers in the U.S. A large portion operate as owner-operators who individually finance their trucks. Combined with fleet financing for larger carriers, transportation generates some of the highest single-asset financing volumes of any industry.
Medical equipment is among the most expensive per-unit financed equipment in any industry. A single MRI machine can cost $1.5 million or more. Advanced surgical equipment, imaging systems, and diagnostic technology represent massive capital investments that virtually no practice can — or should — pay for with cash. Equipment financing in healthcare is essentially universal among independent practices and specialty clinics.
Healthcare equipment financing is particularly favorable because medical equipment holds value well, practices have predictable revenue streams, and lenders understand the sector's stability. Many healthcare equipment lenders offer specialized programs with 100% financing, deferred payment options, and seasonal payment structures for practices with revenue fluctuations.
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Apply Now →The food service industry is one of the most capital-intensive sectors for equipment relative to revenue. A full commercial kitchen outfitted with commercial-grade appliances, refrigeration, and ventilation can easily run $100,000-$500,000. Even a modest quick-service restaurant requires tens of thousands in equipment investment before the first customer walks through the door.
The National Restaurant Association reports that over 1 million restaurant locations operate in the U.S. The majority of new restaurant openings involve equipment financing for some portion of the kitchen buildout. With restaurant equipment typically lasting 7-15 years, financing terms often span 36-84 months, aligning payments with equipment useful life.
Manufacturing is deeply equipment-dependent — and the cost of industrial machinery makes financing not just convenient but essential. CNC machines, injection molding equipment, robotic welding systems, and precision cutting equipment all represent investments that require structured financing to acquire.
By the Numbers
Most Commonly Financed Equipment — Key Statistics
$1T+
Annual U.S. equipment finance market
79%
Of U.S. businesses use equipment financing
12-15%
Construction share of total equipment financing volume
84 mo.
Maximum financing term available for most equipment
Agricultural equipment financing represents one of the oldest and most established segments of commercial equipment lending. Tractors, combines, and planters are assets that can run for decades with proper maintenance — making them ideal collateral for structured financing arrangements.
Agricultural lenders often specialize in seasonal payment structures — aligning payments with crop sale proceeds rather than requiring level monthly payments. This makes equipment financing particularly useful for farming operations with concentrated revenue periods.
Smaller businesses across retail, personal services, and professional sectors also represent significant equipment financing demand — though at lower per-unit values. The volume of these transactions is enormous given the number of small businesses in the U.S.
Understanding which equipment is commonly financed is useful — but understanding how equipment financing actually works helps you get the best deal. Equipment financing typically takes two main forms: equipment loans (where you own the equipment and use it as collateral) and equipment leases (where you rent the equipment for a defined period). Both have distinct advantages depending on your situation.
Equipment loans are straightforward: a lender finances the purchase price (often 80-100%), and you repay the loan in monthly installments over a term that matches the equipment's useful life. At the end of the term, you own the equipment outright. Interest rates vary based on your credit profile, time in business, and the type of equipment — but equipment financing generally offers lower rates than unsecured business loans because the equipment itself serves as collateral.
Equipment leasing provides more flexibility — especially useful for technology that becomes obsolete quickly. Under a lease structure, you pay for the use of the equipment without owning it. At lease end, you can return the equipment, upgrade to newer models, or purchase the equipment for its fair market value (or $1 in some structures).
Most equipment qualifies for financing regardless of whether it's new or used. Used equipment financing is widely available and often at competitive rates — particularly for well-maintained, late-model equipment with strong secondary market demand.
Did You Know? According to the ELFA, the average equipment financing deal size for small businesses ranges from $25,000-$150,000. Terms commonly span 24-84 months, with interest rates typically ranging from 6-30% depending on credit profile, equipment type, and lender.
Crestmont Capital specializes in equipment financing across all major industries — from construction and transportation to healthcare, food service, and manufacturing. As a direct business lender rated #1 in the U.S., we work with established businesses and growing companies alike to structure financing around their specific equipment needs and cash flow realities.
Our commercial financing programs include both equipment loans and lease structures, with terms from 12-84 months and financing amounts from $10,000 to $5 million or more. We've helped construction companies finance fleets of excavators, medical practices upgrade imaging systems, restaurants outfit full commercial kitchens, and manufacturers acquire production machinery — all with fast approvals and flexible terms.
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For businesses with equipment financing needs despite imperfect credit, Crestmont Capital offers specialized programs designed to look beyond credit scores and evaluate the overall strength of your business and the quality of the equipment you're financing.
For a complete look at how industry-level equipment loan statistics compare to your options, explore our guide to equipment loan and lease statistics for 2026.
Scenario 1 — Construction Company: A mid-size excavation contractor wins a $2 million project and needs to add two excavators to their fleet. Rather than depleting $400,000 in cash reserves, they finance both machines over 60 months at competitive rates. Their monthly equipment payments are covered within the first two weeks of each month's project billings.
Scenario 2 — Dental Practice: A dentist opens a second location and needs to equip four operatories with chairs, X-ray units, and a CBCT scanner. Total equipment cost: $280,000. With a 72-month equipment loan, monthly payments stay manageable while the new location ramps up to full patient volume over six months.
Scenario 3 — Restaurant Owner: A restaurateur is opening their second location and needs to equip a full commercial kitchen. Total cost: $175,000. A 60-month equipment loan gives them five years to amortize the investment against the revenue the new location generates.
Scenario 4 — Manufacturing Shop: A metal fabrication shop wins a contract requiring 5-axis CNC capability they don't currently have. Rather than turning down the contract, they finance a $350,000 CNC machining center. The new machine pays for itself within 18 months of the contract work alone.
Scenario 5 — Transportation Company: A regional freight carrier adds three Class 8 semi-trucks to their fleet to meet growing customer demand. Each truck runs $160,000 new. Financing all three over 72 months at a competitive rate keeps monthly cash outlays manageable while the drivers generate revenue from day one.
Scenario 6 — Healthcare Practice: A radiology group adds a second MRI machine to reduce patient wait times. The $1.2 million machine is financed over 84 months. The additional imaging revenue generated more than covers the monthly loan payment, and the machine will be fully paid off with years of useful life remaining.
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Start Your Application →Virtually any business equipment can be financed, including construction machinery, commercial vehicles, medical and dental equipment, restaurant and kitchen equipment, manufacturing machinery, agricultural equipment, technology hardware, fitness equipment, beauty salon equipment, and much more. If a business uses it to generate revenue, there is likely a lender who will finance it.
Construction accounts for the largest share of equipment financing by dollar volume in the U.S., representing 12-15% of total market activity according to the ELFA. Transportation and logistics is the second-largest segment, followed by healthcare, manufacturing, and agriculture.
Yes. Used equipment financing is widely available and often at competitive interest rates. Lenders typically consider the equipment's age, condition, remaining useful life, and secondary market value when evaluating used equipment. Well-maintained, late-model construction equipment, commercial vehicles, and medical devices are frequently financed on the secondary market.
Heavy construction equipment such as excavators, cranes, and bulldozers is typically financed over 48-84 months. Because these assets have long useful lives and strong secondary market values, lenders are comfortable with extended terms. Some specialty equipment can qualify for terms up to 120 months (10 years).
Equipment financing is asset-backed — the equipment itself serves as collateral, which typically results in lower interest rates compared to unsecured business term loans. Additionally, equipment financing is structured around the specific asset being purchased, with terms aligned to the equipment's useful life. Business term loans are more general-purpose and may require additional collateral or personal guarantees depending on the lender.
Not always. Many lenders offer 100% equipment financing with no down payment for qualifying borrowers. Whether a down payment is required depends on the borrower's credit profile, time in business, the type of equipment, and the lender's specific programs. Borrowers with lower credit scores may be asked for 10-20% down to reduce lender risk.
Equipment financing interest rates typically range from 6-30% APR depending on credit score, time in business, equipment type, loan term, and lender type. Borrowers with strong credit (700+) and established businesses generally qualify for rates in the 6-15% range. Alternative and online lenders may charge higher rates for borrowers with lower credit profiles or shorter business histories.
Yes, though the requirements are stricter than for established businesses. Startups typically need a personal credit score of 650 or higher, a detailed business plan, and may face larger down payment requirements. Lenders focus heavily on the entrepreneur's industry experience and the quality of the equipment being financed. Startup equipment financing is particularly accessible in high-demand sectors like construction and transportation.
Equipment financing (loans) results in the borrower owning the equipment outright at the end of the loan term. Equipment leasing is a rental arrangement where the lessee uses the equipment for a defined period and returns it, upgrades, or purchases it at the end. Leasing often has lower monthly payments and makes sense for technology that becomes obsolete quickly. Financing makes more sense for long-lived assets where equity in the equipment has value.
Equipment financing approval timelines vary by lender. Alternative and direct lenders like Crestmont Capital can issue approvals in as little as 24-48 hours for smaller equipment transactions. Larger transactions (over $500,000) and specialty equipment may require more detailed underwriting and take 3-7 business days. Traditional banks typically take 2-4 weeks to approve equipment financing applications.
Yes — in a positive way when managed responsibly. Equipment loans that are reported to business credit bureaus (Dun & Bradstreet, Experian Business, Equifax Business) and paid on time contribute to a stronger business credit profile. This can improve your PAYDEX score and make future financing easier to obtain at better rates.
Required documentation varies by lender and loan amount. For smaller equipment loans (under $150,000), many lenders require only a completed application and proof of business existence. Larger loans typically require 2-3 months of bank statements, tax returns (1-2 years), financial statements, equipment quotes or invoices, and sometimes personal financial information for principals with ownership stakes of 20% or more.
If you can no longer use financed equipment, you still owe the remaining loan balance. Options include selling the equipment and using proceeds to pay off the loan, trading the equipment in toward a replacement, or working with your lender to refinance or restructure the loan. Equipment loans are secured obligations — if you stop making payments, the lender has the right to repossess the equipment.
Yes. Many businesses finance multiple pieces of equipment simultaneously, either as individual loans or bundled into a single equipment financing package. Fleet purchases are commonly financed under a single credit facility with individual schedules for each unit. Bundling equipment can sometimes result in more favorable rates and a streamlined approval process.
For most businesses, equipment financing is the smarter choice even when cash is available. Financing preserves working capital for operational needs, payroll, and unexpected expenses. It also allows you to deploy capital across multiple investments rather than tying it up in a single asset. When the interest cost of financing is lower than the return on deploying that same capital in the business, financing wins on a financial analysis basis.
From excavators and semi-trucks to MRI machines and commercial kitchen equipment, the most commonly financed equipment by industry reflects the reality that businesses across every sector rely on capital-intensive assets to generate revenue. The U.S. equipment finance market exceeding $1 trillion annually is not an accident — it's a reflection of how efficiently equipment financing helps businesses acquire the tools they need without draining cash reserves.
Understanding which equipment is most commonly financed in your industry also gives you a competitive benchmark. If your competitors are upgrading machinery and you're not, equipment financing may be the tool that keeps you in the game. Whether you operate in construction, transportation, healthcare, food service, manufacturing, or agriculture, the right equipment financing partner can help you acquire what you need — and structure payments that align with how your business actually generates revenue.
Crestmont Capital offers equipment financing across all major industries with fast approvals, flexible terms, and programs for businesses at every stage of growth. If you're ready to put new or used equipment to work in your business, we're ready to make it happen.
Disclaimer: The information provided in this article is for general educational purposes only and is not financial, legal, or tax advice. Funding terms, qualifications, and product availability may vary and are subject to change without notice. Crestmont Capital does not guarantee approval, rates, or specific outcomes. For personalized information about your business funding options, contact our team directly.