NFS Capital (formerly NFS Leasing)

Best for: Established, start-up, pre-revenue or turnaround companies in the U.S. or Canada that need $150,000 to $20 million or more for equipment and that banks have turned down. It fits best in technology, healthcare, life sciences, construction and manufacturing.

Not for: Small purchases under $150,000, anyone who wants a posted rate before applying, and cannabis, firearms or long-haul trucking businesses, which NFS Capital excludes.

Lender List verdict: NFS Capital, the company called NFS Leasing until 2025, is a direct equipment lender that underwrites the business's story rather than a score cutoff, so it can say yes where a bank says no. Expect to pay for that flexibility: it publishes no rates, and market data puts equipment pricing for weaker credit at 20% to 34% APR.

NFS Capital at a glance

NFS Capital funds equipment deals from $150,000 to $20 million or more on terms of 12 to 84 months.

What is NFS Capital?

NFS Capital is an independent equipment finance company in Beverly, Massachusetts that leases and lends against equipment for businesses below investment grade in the U.S. and Canada. It began in 2006 as NFS Leasing, financing IT gear, and widened to other asset classes by 2011. Founder and chairman Cliff Rucker has been in equipment leasing since 1989.

The company says it has financed more than $2 billion since launch (trade press put the figure at over $1.5 billion in 2025). It changed its name to NFS Capital in May 2025, and Monroe Capital invested $100 million for a minority stake that July.

How NFS Capital equipment financing works

NFS Capital structures each deal around the asset and the company's circumstances, then funds it from its own balance sheet over 12 to 84 months, depending on the equipment, with step, quarterly or annual payment options. The structures:

• Fair market value (FMV) lease: NFS keeps title; at the end you extend, buy at fair market value or hand the equipment back. Payments typically run below a buyout lease's, up to 100% of the cost can be financed, and soft costs such as shipping and installation can be rolled in.
• $1 buyout lease: fixed payments, often on 100% of the cost, and you own the equipment for a dollar at the end.
• Sale-leaseback: sell equipment you already own to NFS and lease it back, freeing up to 80% of its fair market value as cash.
• Asset-based loan: a fixed-rate loan secured by owned, unencumbered equipment or real estate. Weaker files may be asked for extra support such as cash, securities, warrants or a revenue share.

Used equipment is handled case by case: NFS sells and leases off-lease gear and points to a past deal secured by second-hand equipment with little end-of-lease value, but it publishes no age or condition rules. It notes that buyout-lease equipment may qualify for Section 179 and bonus depreciation; confirm with your tax adviser.

NFS Capital rates and fees: what it really costs

NFS Capital does not publish interest rates, fees or a sample payment; every deal is quoted individually, and asset-based loans carry a fixed rate for the full term. Ask for documentation, late and prepayment terms in writing.

For a benchmark, Small Business Trends (July 2026) reports equipment financing near 4.90% to 6.15% for strong credit and up to 34.00% APR for low scores, with weak credit often above 20%. NFS's borrowers sit in that weaker band.

Worked example: finance a $150,000 machine (NFS's stated minimum) over 60 months with no down payment.

• At 20% APR: about $3,974 a month, $238,445 in total, or $88,445 in finance cost.
• At 34% APR: about $5,228 a month, $313,674 in total, or $163,674 in finance cost.

These are market-data illustrations, not NFS quotes.

NFS Capital requirements

NFS Capital publishes no minimum credit score, time in business or revenue, and says it has no fixed credit rules. It does not publish an application-only limit.

Underwriters weigh the equipment's value, the business plan and the reason the company falls outside bank credit boxes; NFS calls this story credit.

Pros and cons

NFS Capital's strength is approving companies banks reject; its weakness is that you see no price until you are well into the process.

Pros

• Funds non-investment-grade, start-up, pre-revenue and turnaround companies
• Deal sizes from $150,000 up to $20 million or more
• Sale-leaseback can unlock up to 80% of an owned asset's value
• FMV and $1 buyout leases can cover up to 100% of cost, including soft costs
• Decisions in 24 to 48 hours
• About two decades in business with a BBB A+ rating

Cons

• No published rates, fees or sample payments
• $150,000 floor rules out smaller purchases
• Extra collateral, warrants or revenue sharing may be required for weaker credit
• Cannabis, firearms and long-haul trucking are excluded
• Almost no independent customer reviews to check

NFS Capital alternatives on Lender List

NFS Capital alternatives for smaller tickets or stronger credit are equipment lenders.

• Beacon Funding — start-ups, from $10,000 to $500,000
• Crest Capital — up to $500,000 for companies with two or more years in business
• National Funding — equipment up to $150,000 after six months in business
• Balboa Capital — up to $500,000 for borrowers with stronger credit
• Browse all equipment financing and leasing lenders on Lender List

Frequently asked questions about NFS Capital

Is NFS Leasing Now NFS Capital? Yes. NFS Leasing, Inc. announced its new name, NFS Capital, on May 5, 2025. It is the same Beverly, Massachusetts company under the same leadership, not an acquisition. The change signaled a push into broader financing and syndication across the U.S. and Canada, and its site still links to the old NFS Leasing Facebook page.

Is NFS Capital Legit? Yes. NFS Capital has operated since 2006 and says it has financed more than $2 billion. The BBB rates NFS Leasing, Inc. A+, though it is not accredited. Monroe Capital invested $100 million in 2025, and we found no regulatory actions. California deals run under a California Financing Law license.

Does NFS Capital Finance Used Equipment? Yes, case by case. NFS Capital sells and leases off-lease equipment and has funded a deal secured by older equipment worth little at lease end, but it posts no age or condition limits. Its sale-leaseback also turns equipment you already own into cash, at up to 80% of fair market value.

What Credit Score Do You Need for NFS Capital? NFS Capital sets no published minimum score. It targets companies rated below investment grade, including start-ups and turnaround businesses, and says it follows no fixed credit rules. Weaker files may need extra support, such as cash collateral, securities, warrants or a revenue share, alongside the equipment.

What Is the Minimum NFS Capital Will Finance? NFS Capital's stated deal size runs from $150,000 to $20 million or more. Its site shows a few smaller past fundings, one as low as $40,000, but for purchases under $150,000 a small-ticket lender such as Beacon Funding or National Funding is the more realistic fit.

Is NFS Capital a Direct Lender? Yes. NFS Capital underwrites its own deals and funds them from its balance sheet rather than shopping your file to outside funders, and it makes decisions in 24 to 48 hours. It also works through brokers, vendors and referral partners, and in California it may make or arrange loans.

Last verified 2026-10-26. Pricing and terms are provider-stated or third-party-reported and vary by offer; confirm with the lender before applying.