Can I finance commercial kitchen equipment with a 620 FICO score?
Yes—several lenders allow kitchen equipment loans for 620‑score borrowers, though rates may be 3–5% higher than for higher scores. Get a quick estimate today.
Yes — you can finance new commercial kitchen equipment with a 620 FICO score for a loan up to $500k, but you’ll likely see rates 3–5% higher than borrowers with scores over 740.
Yes — you can finance new commercial kitchen equipment with a 620 FICO score for a loan up to $500k, but you’ll likely see rates 3–5% higher than borrowers with scores over 740. See the rate you qualify for in 2 minutes — no credit‑score hit.
The specifics
New kitchen equipment financing starts at $10 k and can go up to $500 k – the typical range for most restaurant owners Dimension Funding . Most lenders require a 15–20 % down payment and offer terms of 48–84 months Nav . The base APR for 2026 runs 9–13 % Nav ; borrowers with a fair‑credit score (620–679) will pay an additional 3–5 % Nav . Using used equipment typically adds 1–2 % Nav . Approval takes 30–45 days Nav . You’ll need 12‑month bank statements, a 12‑month profit‑and‑loss statement, and proof of gross monthly revenue – lenders usually cap debt service at 8–12 % of gross revenue Nav.
Use our affordability calculator to see possible monthly payments /affordability-calculator . If traditional lenders don’t fit, alternative lenders may offer faster approval /alternative-lenders .
Qualification & edge cases
Scores below 620 will still qualify, but rates can climb to 12–15 % Nav and origination fees rise to 3 % Nav. New equipment purchases get a 1–3 % lower APR when the equipment serves as collateral Nav , while leasing avoids the APR entirely but may cost more over the long haul. If your business revenue is less than 1.25 × the loan’s debt‑service coverage you’ll likely be turned down Nav.
Background & how it works
Restaurant equipment financing is a key growth engine for food‑service businesses. According to MonitorDaily, the sector is shifting toward higher‑credit‑score borrowers and smaller, more flexible terms MonitorDaily . The equipment‑finance market is expected to expand by 4 % annually through 2036 FutureMarketInsights . Many lenders also let you claim a full Section 179 deduction in the first year; in 2026 the limit stands at $1 ,220 000 IRS . Lincoln restaurant owners can compare equipment loans, leases, and Section 179 angles to fund kitchens fast without tying up working capital foodserviceequipmentfinancing.com/lincoln-ne .
Bottom line
You can secure commercial kitchen equipment financing with a 620 credit score, but expect higher APRs and a longer due‑date range. Get a pre‑qual estimate now to lock in your rates.
Disclosures
This content is for educational purposes only and is not financial advice. commercialkitchenfinancing.com may receive compensation from partner lenders, which may influence which products are featured. Rates, terms, and availability vary by lender and applicant qualifications.
Sources
Related questions
What are the typical loan amounts for restaurant equipment financing?
Restaurant equipment loans usually range from $10k up to $500k, depending on the equipment type and your business size.
How long does it take for equipment financing to get approved?
Approval times are usually 30–45 days, though some lenders offer faster decisions for stronger applicants.
Can used kitchen equipment be financed?
Yes, but lenders often add a 1–2% APR premium for used gear.
What documentation is needed to apply for equipment loans?
Typical docs include 12‑month bank statements, a profit‑and‑loss statement, and proof of gross monthly revenue.
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