Frequently Asked Questions

CurrencyFinance is a financing platform that connects consumers and businesses with lenders to fund equipment purchases, including heavy machinery, farm equipment, trucks, trailers, RVs, and other types of machinery and vehicles.

With CurrencyFinance, you may get approved for an equipment or vehicle loan up to $500,000 app only and up to $20,000,000 with full financials.

CurrencyAir is the aviation-focused division of Currency that specializes in aircraft and aviation-related financing, helping buyers secure loans for a wide range of aircraft, including older models.

With CurrencyAir, you may qualify for loans starting at just $25,000 (not $75,000 like some competitors).

First, choose whether you need aircraft financing or equipment financing.

If you’re looking for equipment, truck, or trailer financing options, read our Equipment Financing Guide. To learn specifics about aircraft financing, review our Aircraft Buyer’s Guide.

Ready to proceed? If you reside in the U.S., use Currency’s online application forms for equipment financing with CurrencyFinance or aircraft financing with CurrencyAir. If you reside in Canada, use the Canadian financing application.

Reach out if you need more information. Our team is ready to assist you through the process and address any queries you may have.

No, there are no upfront fees for applying or pre-qualifying.

No. Once your application is submitted, your credit is checked with a soft pull. Therefore, there is no upfront impact on your credit score to simply provide a financing quote.

We will get in touch as quickly as possible after you complete an application. Timing can vary depending on when an application is submitted (after hours or during business hours), deal type (consumer vs. commercial), and whether there is enough information to make an instant decision.

Still haven’t heard back? Contact us to check on your application status.

The rate depends on several factors, including your personal credit profile, business credit profile, the equipment you are buying, your time in business, and industry.

We offer a variety of programs that capture a wide range of profiles, including:

• A-D credit profiles
• Commercial and consumer deals
• Several types of asset classes, including equipment, trucks, aircraft, RVs, and motorsports

Start by submitting a completed application to CurrencyFinance or CurrencyAir for the asset you wish to finance. Once we review your profile, we will forward your application to the appropriate party.

There are various factors that go into a lending decision, so different combinations of inputs can result in different outcomes.

For U.S.-based applicants for commercial financing, you are in a better position if you have:
• A 600+ FICO score
• 2+ years’ time in business (TIB)
• A commercial credit history
• 20% or greater ownership of your business
• An essential business use case

U.S.-based consumer loan applicants with a 650+ FICO score may be able to secure funding for a recreational use case.

For Canada-based applicants, you are in a better position if you have:
• A solid personal and/or business credit profile
• Established time in business, or have a strong business plan if you are a newer business
• Evidence supporting your business’s current financial strength
• A clear business use case for the equipment
• The ability to provide standard supporting documents, and in some cases guarantees or collateral support

We typically see terms of up to five years, or sometimes six years, for stronger profiles.

With equipment financing through CurrencyFinance, you can benefit from flexible repayment plans, including annual, semi-annual, quarterly, 90-day deferred, and seasonal payment options.

With aircraft financing through CurrencyAir, fixed- and floating-rate loan options are potentially available for all credit profile types. Fixed-rate loans are available with 5-, 7-, 10-, or 15-year terms and 10-,15-, or 20-year amortizations. Many loans can be paid off early with no pre-payment penalties.

For equipment and vehicle financing obtained through CurrencyFinance, loan terms range up to 72 months.

For aircraft financing facilitated by CurrencyAir, aircraft loan terms of up to 20 years are available.
Generally, shorter terms incur lower interest rates.

Typically, no, for the purchase of equipment, trucks, trailers, and similar assets. For those assets, we often facilitate loans with little or no down payment.

Aircraft loans are generally available with as little as 15% down. For aircraft costing $1 million or more, a 15% or 20% down payment is customary.

Yes. Currency’s expert team stands ready to help you secure a loan for many types of used aircraft, construction and industrial machinery, agricultural equipment, commercial vehicles, and trailers.

Yes. CurrencyFinance finds the best refinancing option for your situation from its network of trusted lending partners.

Yes. Currency’s financing partners have experience with loans for equipment of all kinds. This includes drones, ATVs, UTVs, RVs, airplanes, and more.

CurrencyAir offers competitive financing options for nearly every type of fixed-wing and rotary aircraft, including piston single-engine planes, twin-engines, turboprops, jets, helicopters, and light sport airplanes, among others.

Yes. These can be included in the aircraft financing request. However, most aircraft lenders will only finance 80% to 85% loan-to-value.

In general, 10 to 12 years is the maximum age for financing long-haul trucks and trailers, defined as vehicles that require apportioned plates or cross state lines. However, we review trucks and trailers for financing on a case-by-case basis. Older assets can be subject to term length limits.

Financing is often approved for equipment up to halfway through its useful life. However, our approach is flexible, and we commonly review older equipment based on the applicant’s full profile without setting hard limits. This makes CurrencyFinance stand apart from many competitors that apply strict depreciation-based restrictions.

Typically, yes. Many lenders will only finance aircraft less than 20 years old. At CurrencyAir, we will consider any aircraft manufactured in 1950 or later.

There are several tax implications related to equipment financing, including interest deductions, Section 179 deductions, bonus depreciation, and the Alternative Minimum Tax. Many of the specifics depend on your financing agreement and business structure.*

For aircraft loans, interest may be tax-deductible when the aircraft is used for business purposes. Eligible aircraft, as well as certain components and improvements, can potentially be fully expensed in the year they’re put into use. Consult your tax professional to confirm your eligibility and timing requirements.*

*DISCLAIMER: Currency does not provide tax, legal or accounting advice. The foregoing has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction. Limits and information mentioned is subject to change.

You earn $250 when someone you refer uses your unique link, applies for a business or commercial loan, and their loan is funded. Only valid, personally made referrals that meet all program terms qualify.

Yes. We help dealers offer fast, streamlined financing to their customers. We specialize in agriculture, construction, and commercial transportation, but can offer point-of-sale financing solutions to other equipment and vehicles dealers.

Yes, Currency supports private party sales. Please contact us to learn more.

We’re here to help! Reach out to us any time, and we will respond as quickly as possible.