The best gym equipment financing depends on what you're buying and how long you've been open. For a package of machines from one brand, the manufacturer's plan or a lease is usually the most direct route. If you want to equip the floor, add flooring, mirrors and sound, and cover opening costs all at once, Merchant Fund Express, our recommended funder, reviews your sales and deposits and often decides in 2–4 hours. If you have good credit, years in business and time to wait, a bank, credit union or SBA loan usually costs less.
Below you'll find the ranked list, a comparison table, a guide to which equipment to buy, lease or finance, and the mistakes we see most often in gyms and in spin, Pilates, CrossFit and boxing studios.
Key takeaways
- Strength equipment (racks, dumbbells, plates) lasts for years; console cardio ages fast and usually fits better in a lease.
- If the project includes flooring, mirrors, sound and a remodel, sales-based funding or an SBA loan covers more than a manufacturer plan.
- The SBA says a 7(a) loan can be used to buy and install machinery and equipment, up to a $5 million maximum.
- Since March 1, 2026, SBA 7(a) and 504 loans require 100% of owners to be U.S. citizens or nationals.
- Your recurring membership billing is your best card: make sure it lands in the business account and looks steady.
- Test the payment against your slowest month, which for many gyms is summer or December.
The best gym equipment financing options, in order
- Merchant Fund Express (recommended funder). Best for gyms and studios with memberships and steady sales that need more than one machine: equipment, rubber flooring, mirrors, sound, showers or a full remodel at the same time. It reviews your sales and deposits, not just your credit; it works with credit from a 500 FICO, offers $5,000 to $5,000,000, and doesn't require collateral in most cases. It accepts ITIN applicants and offers Spanish-speaking support.
- Manufacturer or dealer financing. Best if you're buying a full package from one brand: several treadmills, a line of strength machines, or spin bikes with installation. It's convenient because everything is arranged in the same purchase. Always compare the cash price with the financed price.
- Cardio leasing. Best for treadmills, ellipticals, stair climbers and console bikes, which lose value quickly and which members notice when they look dated. At the end of the lease, depending on what you sign, you can return, upgrade or buy the equipment.
- Bank or credit union equipment loan. Best if your gym has been open several years, you have good credit, clean tax returns and a relationship with your bank. It's usually among the cheapest options, but the process takes weeks and the equipment almost always serves as collateral.
- SBA 7(a) loan. Best for big projects: opening a second location, or remodeling and equipping everything. According to the SBA, a 7(a) can be used to buy and install machinery and equipment, up to $5 million; for equipment, the term can reach 10 years. Note: since March 1, 2026, all owners must be U.S. citizens or nationals with their principal residence in the U.S.
- SBA microloan or CDFI. Best for small yoga, Pilates or personal training studios. The SBA says its microloans go up to $50,000, with a maximum term of seven years, and that the average is around $13,000. They're made by nonprofit community lenders that also provide coaching.
If you want to understand the product before comparing, read our guide to gym equipment financing.
Comparison table
| Option | Speed | What it covers | Collateral | What matters most |
|---|---|---|---|---|
| Recommended funder (#1) | Decisions often in 2–4 hours | Equipment, installation, flooring, remodel and opening costs | Not in most cases | Sales and deposits; from 500 FICO; accepts ITIN |
| Manufacturer or dealer | Days | Only the equipment you buy from them | The equipment | Your credit and the amount |
| Cardio leasing | Days | The leased equipment | The leasing company owns it | Credit and time in business |
| Bank or credit union | Weeks | Equipment and sometimes improvements | The equipment and sometimes more | Credit, tax returns and financial statements |
| SBA 7(a) | Weeks to months | Equipment, installation, remodel, working capital | Set by the bank | Credit, cash flow and every owner's citizenship |
| SBA microloan / CDFI | Weeks | Up to $50,000 for equipment, furniture and working capital | Set by the organization | Each organization's criteria |
How we chose: we don't use ratings or scores. We ranked by speed, minimum time in business, minimum credit, ITIN or no-SSN acceptance, documents, amounts and collateral. The full method is on how we rank business funding options.
Which equipment to buy, lease or finance
The most expensive mistake in a gym is financing everything the same way. Use this rule: the financing term shouldn't be longer than the useful life of what you're buying.
| Equipment | Typical useful life | Option that usually fits |
|---|---|---|
| Racks, cages, benches, dumbbells and plates | Very long; barely loses usefulness | Buy with an equipment loan, sales-based capital, or even used with cash |
| Cable and plate-loaded strength machines | Long, with maintenance | Manufacturer, bank or sales-based capital |
| Treadmills, ellipticals and console bikes | Medium; the tech ages | Lease or manufacturer plan with an upgrade option |
| Spin bikes, rowers, Pilates reformers | Medium to long | Manufacturer or sales-based capital |
| Rubber flooring, mirrors, sound, lighting, showers | Long, but can't be recovered or resold | Sales-based capital, bank or SBA |
| Membership software, turnstiles and cameras | Short to medium | The vendor's monthly plan or a business card |
Look closely at the flooring and remodel row: a machine manufacturer won't finance it and it has no resale value, so a bank may not accept it as collateral. If you're opening or renovating, an option that covers the whole project makes sense. If you're leaning toward leasing, first check what it costs to lease gym equipment.
How funders read your gym
A gym has something other businesses envy: recurring revenue. But it only counts if it shows up in your bank statements. Here's what a funder usually reviews:
- Membership billing. Automatic monthly or biweekly charges show stability. If some members pay cash at the front desk, deposit all of it into the business account.
- Sign-ups and cancellations. January usually brings a wave of new members, and summer or December usually dip. Explain your seasonality if your deposits rise and fall.
- Classes and trainers. If you sell drop-in classes, personal training packages or rent space to independent trainers, run it all through the same account.
- Your lease. A long lease builds confidence; one that expires soon raises questions, especially if you're putting in flooring and showers.
For example, picture a hypothetical neighborhood gym with about 400 members, half on autopay and half paying cash or through an app. The owner wants to replace eight treadmills and put new flooring in the weight area. If, for three months, the owner deposits everything and moves more members to autopay, the bank statements tell a much stronger story. It's the cheapest change the owner can make before applying.
How to choose for your type of gym
| Your situation | Where to start |
|---|---|
| New gym that hasn't opened yet | Manufacturer plan with a down payment, a microloan, or an SBA loan if you qualify |
| Boutique spin or Pilates studio | Equipment manufacturer or sales-based capital |
| CrossFit box or boxing gym | Used strength equipment paid in cash, plus fast capital for flooring and heavy bags |
| Replacing all the cardio | Lease or manufacturer plan |
| Remodeling and equipping at once | Sales-based capital or SBA 7(a) |
| A key machine broke in January | Fast sales-based capital |
| Good credit, years open, no rush | Bank, credit union or SBA |
If your gym is new, also read about startup funding for gyms. And if what you need is a cushion for the slow season, compare a business line of credit for gyms.
Common mistakes, and how to apply step by step
- Buying more machines than your members use. Count how many people are on the floor at peak hours and which zone fills up. Often you're short on racks, not treadmills.
- Financing cardio on a long term. If you'll want new consoles in three or four years, don't sign for longer than that.
- Forgetting installation and electrical. Commercial treadmills often need dedicated circuits; get the electrician's quote before you sign.
- Skipping insurance. Many equipment contracts require you to insure the equipment. Price the policy first.
- Ignoring used equipment. Used plates, dumbbells and racks in good condition can save a lot and don't need long-term financing.
- Planning around January. The payment has to survive your slowest month, not your best one.
- Signing without comparing the cash price. A "zero down" offer can carry a higher total price.
How to apply:
- Build your list with quotes: machines, installation, flooring, mirrors, sound and software.
- Split what you'll buy from what you'll lease using the useful-life table above.
- Gather three to six months of business bank statements and an active-membership report.
- Keep your lease, licenses and, if you have one, your business plan handy.
- Get offers in writing and compare total cost, term and payment frequency.
- Run the slow-month test before you sign.
If you want to equip or renovate your gym with one fast round of funding, you can apply with Merchant Fund Express. Applying is free and doesn't affect your credit.
Frequently asked questions
Can I finance equipment for a gym that hasn't opened yet?
Yes, but your options narrow. Without sales history, the most common routes are a manufacturer plan with a down payment, a microloan from a community lender or, if every owner meets the citizenship rule, an SBA loan backed by a strong business plan. Sales-based funders usually want a few months of deposits, so open with the basics and finance the rest later.
Should I buy or lease treadmills?
It depends on how long you'll use them. Treadmills and console bikes age quickly and members notice, so many gyms lease them and swap them at the end of the term. Racks, benches and weights last for years and are almost always worth buying. Compare the total cost of the lease with buying before you decide.
Can I get gym equipment financing with an ITIN?
Yes, options exist. Our recommended funder accepts ITIN applicants with no SSN needed and reviews your sales and deposits. Some manufacturers and community lenders also work with ITIN holders, but each has its own rules, so ask before applying. SBA 7(a) and 504 loans, by contrast, have required all owners to be U.S. citizens or nationals since March 2026.
Does equipment financing cover rubber flooring and a remodel?
A manufacturer plan usually covers only its own machines. Flooring, mirrors, showers and remodeling have no resale value, so they're better financed with sales-based capital, a bank loan or an SBA 7(a), which the SBA allows for improvements and equipment. Ask for quotes that break out each piece.
What documents do I need to finance gym equipment?
Generally three to six months of business bank statements, ID, the equipment quote and details about your space. Banks and the SBA usually also ask for tax returns, financial statements and a business plan. An active-membership and autopay report helps show that your revenue is recurring.
How long does it take to get the money?
It varies a lot. With sales-based funding, a decision can come the same day; our recommended funder often decides in 2–4 hours. A manufacturer plan or lease usually takes days. A bank or SBA loan can take weeks or months, so don't wait for a machine to break before you start.