Beacon Funding

Beacon Funding is an equipment finance company in Northbrook, Illinois that writes small-ticket leases and loans on work trucks and business equipment. Financed categories include tow trucks, boom and bucket trucks, cranes, septic pumper trucks, landscape trucks and commercial mowers, trailers, excavators, skid steers, wheel loaders, stump grinders, trenchers and chippers, and decorated apparel equipment such as embroidery, screen printing, and direct-to-garment machines.

Applications are taken online, and the company says approvals come within 24 hours and that about 7 of every 10 applications are approved, with start-ups as well as established businesses accepted. Terms run 36, 48, 60, 72, and 84 months, up to 100% of the equipment value can be financed, and equipment can be new or used and bought from either a dealer or a private-party seller. A calculator on the site estimates a monthly payment by equipment type, amount, and term, though the company notes that estimate is not an approval.

Founded in 1990, Beacon Funding reports financing $1,990,481,074 of equipment across 32,308 transactions. It works with equipment vendors through a referral program, runs a customer portal and a mobile app, and lists a sales line on (847) 897-2499 and a general line on (800) 866-6396.

Rates and fees are not published. Confirm the rate, documentation fee, and end-of-term structure, which differs between a lease and a loan, and check that the equipment being bought falls into one of the categories Beacon funds before applying.