Finance equipment for your business — but be prepared for a complex application.

• Best for businesses that need financing for a specific piece of equipment.

• Pick something else if your business needs flexibile access to funds.

  $5,000

  Min. Amount

  $500,000

  Max. Amount

  Details

  Product Name	CurrencyFinance business loans
  Min. Amount	$5,000
  Max. Amount	$500,000
  Loan Term	1 to 25 years
  Min. Credit Score	585
  APR	6% to 24%
  Requirements	650+ personal credit score, generate revenue for 6+ months, $75,000+ annual revenue, net loss no greater than 10% over the past 12 months

  How much will this loan cost me?

  Currency offers loans up to $500,000 for terms between two and six years. But while it does have 0% financing programs available to some borrowers, your APR will likely range from 7% to 20% — although we weren’t able to get exact rates when we called. If you use Currency through a dealership, your APR may be higher or lower.

  To determine how much your business can afford, use our calculator to estimate your monthly repayment.

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  How it works

  The underwriting process depends on your business’s finances and the type of equipment needed. If you meet its minimum requirements, you may be approved — but your rates will likely be above 20%. Established businesses with strong revenue and an owner with excellent personal credit could be able to borrow more at a lower rate.

  But Currency isn’t necessarily a direct lender, which makes the financing process more difficult. Because you can work through a seller or dealership and finance through Currency, you may need to meet entirely different requirements — and end up with different rates and loan amounts. To clear up any confusion, we recommend reaching out to a Currency representative before getting started.

  What do I need to qualify?

  Currency requires you to meet a few basic criteria:

  • At least a 650 personal credit score
  • In business for at least six months
  • Annual revenue of at least $75,000

  In addition to these requirements, your business must not have a net loss greater than 10% within the past 12 months.

  What information do I need to apply?

  Although Currency doesn’t list the specific information your business will need to apply, this information is commonly required by lenders:

  • Business plan outline purpose for funding
  • Proof of revenue
  • Proof of business checking account

  What industries does Currency work with?

  Currency doesn’t state which industries it works with. If your businesses is involved in a nontraditional or high-risk industry, such as cannabis or adult entertainment, reach out to a Currency representative to make sure it qualifies for funding.

  Pros

  • Can purchase directly from seller
  • Financing and equipment leases available
  • Newer startups may be eligible

  Cons

  • Loans limited to $500,000
  • No online application
  • May require lien on business assets