Full Review

Editor’s note: While Triton Capital also offers general working capital and SBA loans, this review focuses on its equipment financing.

Triton Capital is an online lender offering small-business loans for businesses that have been in operation for at least

24

months. (Startups may also be able to qualify but will be offered more expensive financing.) Small-business owners can borrow up to $

250000

to buy new or used equipment, like food trucks, computers, medical equipment and more.

When you buy equipment using a Triton Capital loan, the equipment itself serves as collateral. That means that if you fail to repay your loan, Triton Capital may take your equipment to cover its losses, but you don’t need to provide additional collateral.

Triton Capital is best for borrowers who:

Have bad credit. With Triton Capital’s equipment loan, you may qualify with a credit score as low as

580

. 

Don’t want to make frequent payments. Triton Capital allows borrowers to repay their equipment loans either monthly, quarterly, annually, semiannually or seasonally.

Have an established business. Triton Capital requires annual business revenue of $

150000

or more. It also charges higher interest rates for businesses less than 24 months old.

Triton Capital loan requirements

To qualify for an equipment loan from Triton Capital, you’ll need to meet the following minimum requirements:

Time in business:

24

months. (More expensive loans may be available for younger businesses.)

Triton Capital equipment loan features

Loan amount

Estimated APR

Fees

$150 to $750 in origination fees, depending on how much you’re borrowing.

No additional fees or prepayment penalties.

Terms

Repayment schedule

Monthly, quarterly, annually, semiannually or seasonally.

Funding speed

Approval within two to four hours, and funding in one to two business days.

Where Triton Capital stands out

Flexible repayment schedule

Triton Capital offers a more flexible repayment schedule than many lenders, allowing borrowers to make payments monthly, quarterly, annually, semiannually, or even seasonally. In contrast, many other online lenders require weekly or even daily repayments.

Low credit score requirement

Triton Capital’s equipment loan has a minimum personal credit score requirement of

580

, making it a potential option for bad-credit borrowers. And because the lender reports payment activity to commercial credit bureaus, borrowers may be able to build their business credit history by making timely payments.

From Our Nerds: Flexible financing can offer a lifeline for seasonal businesses

“Triton Capital’s flexible repayment schedule can rbenefit businesses with fluctuating cash flow, allowing them to align loan payments with revenue cycles. Less frequent payments — something not all lenders allow — reduces administrative headaches and gives borrowers more time to generate the sales needed to repay their loan.”

This is a headshot of Ryan Brady

Ryan Brady, lead writer, Small Business

Alternatives to Triton Capital

National Funding

National Funding - Equipment financing

National Funding

National Funding – Equipment financing

National Funding is another online lender offering equipment loans for small-business owners. It offers faster funding than Triton Capital but has a lower loan limit of $

150000

compared with Triton Capital’s $

250000

. This makes National Funding a good alternative for business owners needing fast financing for smaller purchases.

JR Capital

JR Capital - Equipment financing

JR Capital

JR Capital – Equipment financing

Like Triton Capital, JR Capital provides online equipment loans to businesses that have been operating for at least

24

months, but requires a slightly higher minimum credit score of

620

. While Triton Capital’s equipment loans are capped at $

250000

, JR Capital offers financing up to $10 million, making it a good alternative for larger purchases.