CIT Equipment Finance for Metal Fabrication Shops: 2026 Review

Verdict

CIT Equipment Finance is a solid option for established metal fabrication shops that need flexible leasing but have at least two years of operating history. The lender offers up to 100 % financing on new CNC mills, press brakes and laser cutters, with lease terms that line up with the useful life of the equipment. See your qualified rate in minutes — no credit‑score hit.

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Pros and cons

Pros

• Full financing & Section 179 advantage – A lease can cover the entire purchase price, and because the lease is a capital‑equipment lease, payments qualify for 100 % Section 179 expensing in 2026 (limit $1.22 M)【https://www.irs.gov/pub/irs-drop/n-25-02.pdf】.
• Industry‑standard funding speed – Once the full application is submitted, funds are typically disbursed in 30–45 days, which aligns with the SBA’s equipment‑loan timeline【https://www.sba.gov/funding-programs/loans/7a-loans】.
• Terms that match shop cycles – Lease and loan terms run 48–84 months, letting shops spread payments over the typical depreciation period of CNC and laser equipment【https://www.sba.gov/funding-programs/loans/7a-loans】.
• Flexibility for fair‑credit borrowers – CIT accepts borrowers with FICO scores as low as 620, a range defined as “fair credit” by the SBA【https://www.sba.gov/funding-programs/loans/7a-loans】.
• Transparent fee structure – Origination fees are capped at 1–3 % of the financed amount, a range that mirrors industry norms【https://www.sba.gov/funding-programs/loans/7a-loans】.

Cons

• Minimum operating history – Applicants must provide at least 24 months of tax‑return‑supported financials, which excludes brand‑new shops.
• APR sits at the high end of the industry band – The typical APR range of 9 %–13 % for equipment financing can be higher than SBA 7(a) loans (8 %–10 % for prime borrowers)【https://www.sba.gov/funding-programs/loans/7a-loans】.
• Used‑equipment premium – Financing used presses or refurbished laser cutters adds a 1–2 % APR surcharge, per SBA’s pricing guidance【https://www.sba.gov/funding-programs/loans/7a-loans】.
• Down‑payment expectations – Even with a lease‑to‑own structure, most lenders require a 15 %–20 % upfront payment, which can strain cash flow for shops operating on thin margins【https://www.sba.gov/funding-programs/loans/7a-loans】.

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Key terms

• APR range: 9 %–13 % APR (industry average)【https://www.sba.gov/funding-programs/loans/7a-loans】.
• Funding speed: 30–45 days from a complete application to cash disbursement【https://www.sba.gov/funding-programs/loans/7a-loans】.
• Minimum credit score: 620 FICO (fair‑credit tier)【https://www.sba.gov/funding-programs/loans/7a-loans】.
• Minimum time in business: 24 months of documented revenue and tax returns.
• Typical lease term: 48–84 months, matching the depreciation schedule of most CNC and laser equipment【https://www.sba.gov/funding-programs/loans/7a-loans】.
• Down payment: 15 %–20 % of equipment cost, consistent with SBA‑backed financing guidance【https://www.sba.gov/funding-programs/loans/7a-loans】.
• Origination fee: 1–3 % of the financed amount【https://www.sba.gov/funding-programs/loans/7a-loans】.

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Background & how it works

CIT Equipment Finance is the equipment‑leasing arm of CIT Group, a long‑standing commercial‑finance company with a dedicated team that serves U.S. manufacturers. In 2026 the metal‑fabrication market is expanding at a 4.7 % CAGR, driven by near‑shoring and automation investments【https://www.fortunebusinessinsights.com/metal-fabrication-equipment-market-112664】. That growth creates demand for capital‑intensive CNC mills, press brakes and laser cutters.

When a shop applies through metalfabricationfinancing.com, the request is routed to CIT’s dedicated equipment‑finance desk rather than an open‑auction marketplace. This “single‑match” approach protects the shop’s data and ensures the lender’s underwriting is tailored to fabrication‑specific collateral.

Application flow:

1. Soft pre‑qualification – Enter basic details (revenue, equipment price, credit score) on the site’s affordability calculator. The check uses a soft pull, which has no impact on the FICO score【https://www.sba.gov/funding-programs/loans/7a-loans】.
2. Full submission – Upload 24 months of tax returns, a bank‑statement snapshot (the SBA recommends reviewing 12 months of statements) and the equipment quote.
3. Underwriting – CIT evaluates cash‑flow coverage (DSCR ≥ 1.25× is standard) and collateral value. Because the loan is secured by the equipment, APR may be reduced 1–3 % for strong collateral【https://www.sba.gov/funding-programs/loans/7a-loans】.
4. Funding – Upon approval, funds are wired within 30–45 days.

Where CIT fits:

• Best for shops that have 2+ years of history, need to finance new or lightly used machinery, and want the tax benefits of a lease.
• Less ideal for brand‑new startups or shops that cannot meet the 15 %–20 % down‑payment floor.

For a regional comparison, see how financing terms differ in Saint Paul, Minnesota, where local lenders may require larger down payments but offer SBA‑backed rates【https://fabricationshoploans.com/saint-paul-mn】.

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Bottom line

CIT Equipment Finance delivers reliable, fabrication‑focused leasing with clear tax advantages and funding that meets industry timelines. If your shop meets the 24‑month history requirement and can handle a modest down payment, it’s worth getting a quote now.

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Disclosures

This content is for educational purposes only and is not financial advice. metalfabricationfinancing.com may receive compensation from partner lenders, which may influence which products are featured. Rates, terms, and availability vary by lender and applicant qualifications.

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Sources

• ELFA Equipment Finance Fact Sheet 2026
• Fortune Business Insights – Metal Fabrication Equipment Market Size, Share | Growth 2034
• Lease Foundation – Horizon Report
• Lion Technology Finance – U.S. Equipment Finance Activity Surges to Record High in January 2026
• Crestmont Capital – Manufacturing Fabrication Equipment Financing: The Complete Guide for 2026
• IRS Notice on Section 179 Deduction 2026
• SBA – 7(a) Loan Program Overview
• Fabrication Shop Loans – Saint Paul, MN