What are the best equipment financing rates for good credit (680–739) in 2026 for a metal fabrication shop?

If your fabrication shop's owner FICO sits in the good band (roughly 680–739), you can expect 2026 equipment financing in the neighborhood of 9% to 14% APR. Industry rate tables for the year place the "Good" tier (700–759) at 9.00% – 14.00% APR, sitting between the excellent tier (760+) at 7.00%–11.00% and the fair tier (640–699) at 13.00%–20.00%. The exact number inside that band depends on your time in business, the machine's resale value, and the lender — but good credit reliably keeps you in single-to-low-double digits rather than the teens or beyond.

Good credit is the tier where financing stops being about getting approved and starts being about getting a competitive offer. You're a strong candidate for the full menu: bank term loans, SBA-backed equipment programs, and online equipment lenders all compete for borrowers here.

What the good-credit band unlocks

• Better pricing. Established, creditworthy shops (FICO 700+ with a few years operating) can see equipment financing as low as 4% to 11% APR at banks and SBA lenders. The catch is that the bottom of that range is reserved for the strongest files; a 680–720 score with thinner history lands closer to the 9%–14% midpoint.
• Smaller spread per notch. Rate cards move in steps — moving down one credit band typically adds 0.5% to 1% to the quoted rate. Pushing a 685 score toward 740 before you apply can be worth a meaningful chunk of your monthly payment.
• Low or no down payment. Where weaker credit forces 10%–20% down, good-credit borrowers are described as "most borrowers" who land in the 10%–20% rate range and often qualify for little-to-no down payment because the press brake, laser, or CNC machine itself serves as collateral for the loan.

How good differs from fair and excellent

The gap is real money. Fair credit (640–699) generally runs 13.00% – 20.00% APR, so a fabricator who climbs out of fair into good can shave several points off the rate on a six-figure machine. Excellent credit (760+) at 7.00%–11.00% buys you the last point or two and the widest lender choice. Across the whole market, equipment financing rates typically range from 4% to 45% APR — good credit puts you firmly in the bottom third of that span. For the mechanics of how each point of score translates to dollars, see how your credit score affects equipment rates, and compare against the fair-credit tier.

Get the most out of a good-credit file

Rates are still set deal-by-deal, not by score alone. To capture the low end of 9%–14%, bring two to three years of business bank statements, a clean equipment invoice with serial number, and a down payment if your cash position allows — lenders commonly recommend 10–20% down to sharpen pricing even when 100% financing is available. Terms typically run 2 to 7 years, matched to the machine's useful life. For a full tier-by-tier breakdown, see our good-credit financing overview.

Sources

• Crestmont Capital — Equipment Financing Rates and Benchmarks (2026 Data Guide)
• ROK Financial — Equipment Financing Rates: Trends Business Owners Should Watch
• The Credit People — What Are Current Equipment Financing Rates?
• NerdWallet — Best Equipment Financing and Loans of 2026
• Smarter Finance USA — Equipment Financing Rates