Equipment refinance — get the cash back out of equipment you already own.
You paid cash at auction, or wrote a check to close fast, and now the operating account is thin. If the equipment is 2018 or newer, worth $50,000 or more, and titled free and clear in your name, we lend against it and put the cash back in your account in 5 to 10 business days. The equipment keeps working the whole time.
One program: cash-out on equipment you own free and clear
This is a loan against equipment that is already yours. The title stays in your name, the lender takes a lien, you get up to 130% of the equipment's wholesale value in your operating account, and you make a fixed monthly payment on a term up to 60 months. When it's paid off the lien is released. There's no prepayment penalty after 18 consecutive on-time payments.
It is not a sale-leaseback (we don't buy your equipment and lease it back), and it is not a way to restructure a loan you already have. If the equipment has a lien on it, this isn't the program.
The three tests for cash-out
- 2018 model year or newer. Equity lending has to be conservative on the collateral, and newer equipment holds its wholesale value through the term. Older equipment doesn't fit, regardless of condition or how well you bought it.
- Worth $50,000 or more. Real commercial iron: trucks, trailers, construction equipment, farm equipment, machine tools. Below that floor the inspection and title work cost more than the loan is worth to you.
- Owned free and clear, title in your name. No lien, no payoff, no lender on the title. The title, or the invoice plus proof of payment for untitled equipment, has to be in your business's name or your own.
Pass all three and the conversation is short. Fail one and we'll tell you on the first call.
What typically qualifies
- Day cab tractors, dump trucks, vocational and work trucks, vacuum and septic trucks, tow trucks.
- Dry van, reefer, lowboy, and step-deck trailers.
- Excavators, dozers, loaders, skid steers, cranes, and other yellow iron.
- Tractors, combines, and other high-value farm equipment.
- CNC machining centers, lathes, and other machine tools.
What doesn't fit this program
- Over-the-road sleeper tractors, medical and imaging equipment, printing presses, and forestry equipment, regardless of age or value.
- Personal-use and light-duty vehicles: pickups, horse trailers, a plow truck.
- Equipment with a loan still on it. We are not paying off your lender and lending you the difference; cash-out requires a clean title.
- Low-value equipment: mowers, small trailers, single pieces of shop equipment.
How much cash, and what it takes
- Loan amount: up to 130% of wholesale value. Wholesale usually runs about 70% of retail, so a piece that would sell for $100,000 typically supports $70,000 to $90,000. We'll give you a real number on your specific piece on the first call.
- Credit: personal credit we can underwrite, plus a large installment loan in your history paid as agreed: an auto loan, an equipment loan, or a mortgage. We'll tell you on the first call where your file lands.
- Term: up to 60 months, fixed monthly payment, no prepayment penalty after 18 on-time payments.
- Timeline: 5 to 10 business days from complete paperwork. A landscape contractor who paid cash for a truck had the money back in his account inside two weeks of his first call.
- Paperwork: title or invoice plus proof of payment, photos of the unit and serial plate, three months of bank statements, and an application. An inspection is ordered on most units.
Equipment financing rates — what actually moves the number
People searching for equipment financing rates want a table, and nobody who publishes one is quoting the rate you'll get. On a refinance the rate is set by four things, roughly in this order: your personal credit score, how long you've been in business, what the equipment is and how old it is, and how much of the equipment's value you're borrowing. A 720 score on a 2021 excavator at 80% of wholesale prices very differently from a 580 score on a 2018 dump truck at 130%. We place files across a panel of lenders, so the rate we quote is the best one on the panel for your file, not one bank's rate card. Call and we'll quote it on your actual equipment.
Frequently asked
What is a cash-out equipment refinance? A loan against equipment you already own free and clear. Cash in your account, a fixed payment on a term up to 60 months, lien released at payoff.
I bought at auction with cash. Does that work? Yes, that's the main use of the program. We don't finance auction or private-party purchases directly; we refinance the piece afterward once the title is in your name.
Is this a sale-leaseback? No. The title stays in your name; the lender takes a lien and releases it at payoff.
I still owe money on it. Then it isn't a fit. The program is for equipment with no lien on it.
How fast? 5 to 10 business days from complete paperwork.
Want the long version? Read the full write-up on cash-out equipment refinance.
Ready to find out what your equipment supports?
Tell us about the equipment you own.
Year, make, model, what you paid, and whether the title is clean. We'll tell you on the first call whether it qualifies and roughly what it supports.