Does the equipment need to be brand new?

No. Luma finances both new and used equipment. Used equipment may require an appraisal or invoice from the seller. Most equipment under 10 years old qualifies.

Do I own the equipment immediately?

Yes. Luma's equipment financing is a purchase loan, not a lease. You own the equipment from day one, and the lien is released when the loan is paid in full.

Can Luma pay the vendor directly?

Yes, and in most cases that's how it works. Luma wires payment directly to the equipment vendor or dealer on your behalf.

What types of equipment qualify?

Most business-use equipment qualifies: kitchen equipment, commercial vehicles, machinery, medical devices, construction tools, IT hardware, and more. Personal vehicles or consumer goods do not qualify.

How long does the process take?

Simple equipment purchases under $100K are typically approved within 24–48 hours. Larger or specialized equipment may require additional documentation.

Equipment Financing

The tools your business needs to grow.

Funding RangeUp to $500K

Term12–60 months

Min FICO600+

RepaymentMonthly

What is Equipment Financing?

Equipment financing lets you purchase the tools, machinery, or vehicles your business depends on — without depleting working capital. The equipment itself serves as collateral, which typically means better rates and less documentation than unsecured loans. Terms are structured to align with the useful life of the asset, keeping monthly payments manageable from day one.

Key benefits

Equipment serves as collateral — no additional assets required
Preserve working capital for operations and growth
Monthly payments aligned with the asset's useful life
100% of purchase price covered — no large down payment
Potential tax benefits through Section 179 deduction (consult your accountant)

Requirements

Min FICO Score

600+

Monthly Revenue

$15K+

Time in Business

12 months+

Collateral

Equipment itself

How it works

Tell us what you need

Share the type of equipment, approximate cost, and your business details. New or used — both qualify.

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Receive structured terms

We build a term structure based on equipment type and your business profile. Monthly payment is clear from day one.

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Vendor paid, you start using it

Luma pays the vendor or dealer directly. You receive the equipment and start making monthly payments.

When to use Equipment Financing

The right fit for your situation

Restaurant equipment

Commercial ovens, refrigeration units, POS systems, or full kitchen buildouts. Preserve cash, match payments to peak season.

Construction machinery

Excavators, lifts, compactors, and fleet vehicles. Put the equipment to work immediately while payments spread over 3–5 years.

Medical equipment

Dental chairs, imaging machines, diagnostic devices. Finance the upgrade without disrupting your practice's cash reserves.

Commercial vehicles

Delivery vans, trucks, specialty vehicles. Equipment financing often beats traditional auto loans for commercial use.

FAQ

Common questions about Equipment Financing

Ready to get Equipment Financing?

Apply in 60 seconds. No hard credit pull.

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