If your business uses Apple products as part of its operations, Apple offers a business financing program that can provide affordable leasing options. Depending on the lease type you need, you can either return the equipment at the end of the term or opt to retain ownership.
Apple has partnered with FCB to provide financing options. Continue reading our guide to learn how Apple small business financing works, whether it might be right for you, and how it compares with other alternative financing providers.
Financing Amount | Credit Score Required | Estimated | Min. Time in Business | Lease Term | |
|---|---|---|---|---|---|
 | $4,000 and up | 600 recommended | 6% to 8% and up | None | Up to 36 months |
 | 100% of equipment value | 550 | 6% and up | 6 months | Up to 72 months |
 | Up to $150,000 | 600 | 10% and up | 2 years | Up to 60 months |
 | 100% of equipment value | 680 recommended | Varies | None | Up to 60 months |
 | 100% of equipment value | 600 | Varies | 6 months | Up to 86 months |
Apple Financing Lease Terms & How It Works
With Apple’s small business financing, there are two types of leases you can choose from: the fair market value (FMV) leasing program or the $1 buyout option.
Here’s how the two Apple business leasing options compare:
FMV Lease | $1 Buyout Lease | |
|---|---|---|
Leasing Program Description | Flexible lease terms and an FMV purchase option lower your monthly payments. | A $1 buyout offers your business a simple and cost-effective way to own Apple products. |
Financing Amount | $4,000 minimum | $4,000 minimum |
Repayment Term | 12, 24, or 36 months | 12, 24, or 36 months |
Eligible Products | Mac, iPhone, iPad, Apple Watch, Apple TV | Mac, iPhone, iPad, Apple Watch, Apple TV |
Financing Amount for Accessories | Up to 25% | Up to 25% |
Monthly Payment | Typically lower payment amounts | Typically higher payment amounts |
Options at End of Lease | Return, exchange for newer equipment, or purchase at FMV | Pay $1 to own |
Fair Market Valuation Method | Unknown until end of lease | Issued at beginning of lease |
FMV Lease
Apple’s FMV lease is a good option if you’re looking for lower monthly payments. At the end of the lease, you’ll have options to return the Apple equipment, extend the lease term, or get a new lease on other equipment. You can also purchase the Apple equipment at FMV.
One of the downsides with this lease option is that if you decide to purchase the equipment, you will not know the FMV purchase price until the end of the lease term.
$1 Buyout Lease
With a $1 buyout lease, you’ll be able to own the Apple equipment once the lease expires. As a result, this option typically has higher monthly payments. However, the benefit of this type of lease is that you’ll know the full purchase price of the equipment upfront, as opposed to the fair market lease option where the final purchase price can vary based on market conditions.
Apple Business Financing Costs & Qualification Requirements
Rates & Fees | |
|---|---|
Estimated APR | Undisclosed, but estimated from 6% to 8% |
Application Fee | None |
Documentation Fee | None |
Qualification Requirements | |
Credit Score | Undisclosed, but 600-plus is recommended |
Time in Business | None |
Business Revenue | None |
Debt service coverage ratio (DSCR) | None |
Personal Guarantee | Required with less than 3 years time in business |
Apple has partnered with FCB to offer its business financing product. Based on publicly disclosed qualification information, acquiring financing can be relatively easy since there are no set minimum credit score and time in business requirements. However, you should have at least a score of 600 or higher to improve your chances of getting approved.
With that being said, meeting the minimum requirements does not guarantee approval. When preparing to apply for financing, having strengths in your application can make it easier to get approved. For instance, businesses with low credit scores may need a high DSCR. Similarly, having a low credit score could be offset by demonstrating strong business revenue.
Apple Business Financing Pros & Cons
| PROS | CONS |
|---|---|
| Fewer upfront costs to acquire equipment | Final purchase price of equipment for FMV lease option is not known until lease expiration |
| Company can preserve capital to be used for other business purposes | Cost of leasing can be more expensive than purchasing outright, especially with bad credit |
| Easier upgrade path for equipment once lease expires | Qualification requirements undisclosed until after you apply |
| No application or documentation fees | Monthly payments in exchange for fewer upfront costs |
Who Apple Small Business Financing Is Right For
Depending on the terms of your leasing agreement, leasing equipment can be more expensive in the long run compared with purchasing the equipment outright. That said, scenarios in which Apple business financing could be well-suited for you may include:
- Minimizing upfront costs: With interest rates for many equipment loans ranging from 4% to 8%, financing equipment is usually more expensive than purchasing it outright. However, the benefit of financing equipment with either a loan or a lease is the fact that it requires less funds upfront. This allows you to preserve capital that can be used for other areas of your business.
- Upgrading to newer equipment regularly: Lease options with Apple business financing can allow you to upgrade your equipment at the end of the lease term. This can be beneficial for business owners who want or need to have the latest in technology. With Apple business financing, you can choose lease terms of 12, 24, or 36 months.
- Relying on newer equipment: By using the lease options provided by the Apple business financing program and regularly upgrading your equipment, you can be less likely to have your business operations interrupted as the result of a failure in business equipment. Upgrading to newer equipment also gives you the opportunity to get a new warranty through Apple, the cost of which can also be financed as part of the lease.
How to Get Apple Financing
To apply for Apple business financing, you can visit the nearest Apple retail store or call a member of the Apple business team using the toll-free number on its website.
Visit Apple Business Financing
Apple Business Financing Alternatives
When considering financing options outside of Apple Business Financing, there are a few alternatives that may fit the bill. Regardless, you should compare rates, fees, and terms across lenders. These alternatives may also be helpful if you are having difficulty getting approved or want to see if you can find more favorable rates and terms.
Consider the following providers:
- Clarify Capital: Best for Multiple Options and Personalized Service
- National Funding: Best for Stable Companies with Small Funding Needs
- CDW: Best for Leasing Apple or Non-Apple Computer Products
- SBG Funding: Best for Custom Terms
Clarify Capital: Best for Multiple Options and Personalized Service
| |
Rates & Terms | |
Financing Amount | 100% of equipment value |
Estimated APR | 6% and up |
Financing Options | Equipment loans and leases |
Financing Term | 24 to 72 months on average, but may vary |
Eligible Products | Any business-related equipment |
Qualification Requirements | |
Credit Score | 550 |
Time in Business | 6 months |
Business Revenue | $120,000 annually |
DSCR | Not stated |
Personal Guarantee | Not stated |
Why You Should Consider Clarify Capital
Clarify Capital is a business loan broker with over 75 lenders in its network. Working with it means you’ll be assigned a dedicated funding advisor who will match you with a lender best suited for your needs. You’ll also be able to get assistance in completing any necessary loan documentation.
In addition to offering some of the most flexible qualification requirements compared with other alternative providers, Clarify Capital places a large emphasis on delivering a high level of service. This is supported by the fact that it has a 4.9-star rating on Google[1] and Trustpilot.[2]
To learn more and to apply, visit the Clarify Capital website. Applications can be completed in under two minutes with no cost and no impact on your credit score.
National Funding: Best for Stable Companies with Small Funding Needs
| |
Rates & Terms | |
Financing Amount | Up to $150,000 |
Estimated APR | 15% and up |
Financing Options | Equipment loans and leases |
Financing Term | 2 to 5 years |
Eligible Products | No restrictions |
Qualification Requirements | |
Credit Score | 600-plus |
Time in Business | 6 months |
Business Revenue | $250,000 annually |
DSCR | Undisclosed |
Personal Guarantee | Required |
Why You Should Consider National Funding
National Funding offers a general equipment financing program that can be used to lease or purchase business-related items. It typically works with companies that have exhibited stable finances and are looking to continue growing. However, it does have the flexibility to work with those that have lower credit scores.
A standout feature is its Lowest Payment Guarantee. This guarantee states that if you can find another lender willing to offer a lower lease payment, then National Funding will pay you $1,000 toward qualifying executed leases. Additional terms and conditions apply, and you can see the details on National Funding’s Guaranteed Lowest Payment Rules page.
You can apply online, a process that only takes a few minutes. Once this step is completed, a funding specialist will contact you to learn more about your needs to ensure you’re matched with the right financing option. If approved, you could receive funding in as little as 24 hours.
CDW: Best for Leasing Apple or Non-Apple Computer Products
| |
Rates & Terms | |
Financing Amount | 100% of equipment value |
Estimated APR | Varies |
Financing Options | Equipment leasing |
Financing Term | Up to 60 months, but may vary |
Eligible Products | Computer products from qualifying I.T. leasing partners |
Qualification Requirements | |
Credit Score | Undisclosed, but 680 is recommended |
Time in Business | None |
Business Revenue | Varies |
DSCR | Varies |
Personal Guarantee | May be required |
Why You Should Consider CDW
CDW provides equipment leasing options and has a lower minimum financing amount than Apple Business Financing. It also allows qualified businesses to get up to 100% financing, which can be helpful if you’re looking to minimize your upfront costs of acquiring business equipment.
Unlike Apple business financing, you can work with CDW to get a lease with several different companies. Currently, the provider has partnerships with the following nine businesses:
- Arrow Capital Solutions
- Cisco
- Dell
- Hewlett Packard (HP)
- Lenovo
- Leaf
- Apple
- IBM
- Microsoft
Available lease options are the same as Apple business financing, as you can choose between an FMV lease or a $1 buyout lease. To get set up for leasing with CDW, you must first obtain a customer number. This is something that can be done over the phone or by emailing the provider’s sales department.
SBG Funding: Best for Custom Terms
| |
Rates & Terms | |
Financing Amount | 100% of equipment value |
Estimated APR | Varies |
Financing Options | Leases and loans |
Financing Term | 1 to 7 years |
Eligible Products | Any business-related equipment |
Qualification Requirements | |
Credit Score | 600 |
Time in Business | 6 months |
Business Revenue | $350,000 annually |
DSCR | Not stated |
Personal Guarantee | Not stated |
Why You Should Consider SBG Funding
SBG Funding can provide customized approvals and loan terms suitable to your specific business needs. Like Clarify Capital and CDW, SBG funding offers financing up to 100% of equipment costs. Loan terms for things like payment frequency and schedule can be adjusted based on your company’s cash flow requirements. Additionally, eligible businesses may also qualify for deferred payments for up to three months.
The lender provides options for both equipment loans and leases and has an overall approval rate of 85%. With that being said, we recommend having compensating factors to offset any potential weak areas of your loan application to improve your approval odds. This is because meeting the minimum stated requirements does not guarantee approval, as factors specific to your equipment financing scenario may be considered.
To apply, visit the SBG Funding website. Applications can typically be completed in just a few minutes, and eligible companies could get funding as quickly as the same day.
Frequently Asked Questions (FAQs)
Yes, you are not required to go through Apple’s business financing program to lease Apple products for your business. Many other lenders can offer similar lease and loan options, and many equipment financing programs allow any business-related equipment to be financed. You can also get a general small business term loan or line of credit to finance the acquisition of Apple products.
This depends on the details of your business. Leasing may be a better option if you need to refresh equipment regularly to stay competitive or prefer to have lower monthly payments. Purchasing may be a better option if you anticipate the equipment having a long useful lifespan and want to keep long-term costs low.
The best type of lease depends on many factors, including the specific type of equipment being acquired, its useful lifespan, and your business cash flow needs. We recommend heading to our guide on equipment leasing to learn more about each lease type and which may be best suited for your business.
Generally, a score of 600 or more is recommended to improve your odds of approval. However, this may vary depending on other qualifying factors and the lease terms you’re looking to get.
Bottom Line
Businesses that use Apple products can benefit from Apple business financing as it can allow you to obtain new equipment at a lower upfront cost. The available lease options can also give you the flexibility of regularly updating your equipment.
Apple business financing alternatives can also offer similar options and may be suitable for businesses that don’t qualify for financing provided by Apple. As with all other lending options, you should compare the rates and terms with other providers to determine which is the best fit for your business.
