Frequently Asked Questions
Answers to common questions about equipment financing, our programs, and how the process works.
Getting Started
What is equipment financing?
Equipment financing is a loan or lease used to purchase commercial equipment for business use. Instead of paying the full cost upfront, your business makes monthly payments over a set term. The equipment itself often serves as collateral, which can make approval easier than unsecured financing.
What types of equipment does Atlantic finance?
We finance a wide range of commercial equipment including commercial vehicles (trucks, vans, trailers), construction equipment (excavators, bulldozers, cranes), manufacturing machinery (CNC equipment, production lines), and technology assets (computers, servers, medical devices). New and used equipment both qualify.
What is the difference between a loan and a lease?
A loan gives you ownership of the equipment at the end of the term — you build equity and can sell or trade it. A lease is more like a rental — you use the equipment for the term and then have options to buy it, upgrade, or return it. Leases often require less upfront capital and offer more flexibility for equipment that depreciates quickly, like technology.
Do I have to visit an office to apply?
No. Our application is entirely online and can be completed in minutes. Transactions up to $200K are often app-only, meaning we do not require you to send financial statements or tax returns to get an answer.
Eligibility & Credit
Can a new business qualify for equipment financing?
Yes. Our Startup Programs are specifically designed for businesses with 0–2 years of operating history. We offer approvals up to $250K, with app-only options up to $50K. We evaluate each application individually — a short operating history doesn't automatically disqualify you.
What credit score is needed to qualify?
Credit requirements vary by lender and program. We work with a network of lenders that have different credit thresholds, which means we can often find options for businesses or individuals with less-than-perfect credit. Contact us to discuss your specific situation.
Can I finance equipment if my business has had credit challenges?
Potentially, yes. We work with lenders that specialize in non-prime and challenged credit scenarios. The equipment type, down payment, and time in business all factor into the decision. We encourage you to apply or contact us to explore your options.
Do you require a personal guarantee?
Personal guarantees are common in commercial equipment financing, especially for smaller businesses and startups. However, some larger transactions can be structured on a corporate-only basis. Speak with our team to understand what is possible for your situation.
Programs & Terms
What are your financing limits?
Commercial Loans and Leases go up to $10M per transaction. Startup Programs go up to $250K. Private Party Sales go up to $550K. App-only approvals are available up to $200K (or $50K for startups).
What lease structures are available?
We offer Fair Market Value (FMV) leases, $1 Buyout leases, TRAC (Terminal Rental Adjustment Clause) leases, and other structures depending on the lender and equipment type. FMV leases give you the option to buy at market value, return the equipment, or upgrade at the end of the term.
Is 100% financing available?
Yes. Many of our commercial lease programs offer 100% funding with no down payment required. Loan programs may require a down payment depending on the transaction and credit profile, though some can also be structured with 100% financing.
Can I finance used equipment through a private seller?
Yes. Our Private Party Sales program allows businesses to finance equipment purchased from private sellers (not just dealers), up to $550K, with both loan and lease options available.
The Process
How long does approval take?
App-only transactions up to $200K can often be approved within 24–48 business hours. Larger transactions requiring documentation review may take a few business days. We work to move as quickly as possible because we know your business can't wait.
What happens after I apply?
Once you submit your application, our team reviews it and submits it to the most suitable lenders in our network. We then present you with the best offer(s) available. If you accept, we process the paperwork and coordinate funding directly to the equipment vendor.
Are there prepayment penalties?
Some programs offer principal-only payoff options, meaning you can pay off the remaining balance early without interest penalties. Availability depends on the lender and program structure. Ask our team when reviewing your offer.
Still Have Questions?
Our team is here to help. Call us, send an email, or fill out our contact form — we respond promptly and won't push you toward a decision before you're ready.
Ready to Apply?
The application takes minutes and transactions up to $200K are often app-only.