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Most businesses do not buy their machines, vehicles, medical scanners or servers outright. They lease or finance them. The 2026 Monitor 100 report put the combined net assets of the 100 largest US equipment finance companies at USD 593.8 billion, with USD 211.9 billion of new business in 2025, while Leaseurope recorded almost EUR 203 billion of new leasing volume in Europe in the first half of 2025 alone.
This guide profiles ten of the largest equipment leasing and financing companies worldwide, grouped by business model, using the latest figures each company has published. It covers who they lend to, what they finance and what a borrower needs to qualify.
In this article
The terms are often used interchangeably, but the structures differ in who owns the asset and how it sits on the balance sheet.
The lessor owns the equipment and takes residual value risk. The business pays to use it and returns or upgrades it at the end of the term. Common for IT, vehicles and medical equipment.
The business takes most of the risks and rewards of ownership and usually buys the asset for a nominal sum at the end. Economically close to a loan.
The business owns the equipment from day one and the lender takes a security interest in it. Our asset based lending work covers these structures.
The manufacturer or dealer offers leasing at the point of sale through a captive or a partner lessor, often with subsidised rates to support sales.
Captives finance their parent's equipment. Their advantage is deep knowledge of the asset and its resale value, which lets them lend where general banks hesitate.
John Deere Financial finances retail purchases of John Deere agricultural, construction and forestry equipment, dealer inventory and operating leases in the Americas, Europe, Asia, Africa and Australia. Its main US entity, John Deere Capital Corporation, reported receivables and leases of USD 57.2 billion at the end of fiscal 2025.
Best for. Farmers, contractors and forestry businesses buying Deere equipment through a dealer.
Cat Financial provides loans and leases for Caterpillar machines, engines and turbines to customers and dealers worldwide. It reported total assets of USD 36.9 billion at the end of September 2025.
Best for. Construction, mining and energy businesses buying heavy equipment, including in emerging markets where Cat has strong dealer networks.
Siemens Financial Services finances industrial, healthcare and energy equipment, both Siemens and third party, and invests in infrastructure. Its fiscal 2025 facts and figures show total assets of EUR 33.1 billion and customers in around 60 countries.
Best for. Hospitals, manufacturers and utilities financing high value technical equipment.
DLL, owned by Rabobank, is a global vendor finance company that partners with manufacturers and dealers in agriculture, food, healthcare, construction, transport and technology. Its 2025 annual report showed a portfolio of EUR 45.7 billion and net profit of EUR 312 million.
Best for. Businesses buying from manufacturers that offer DLL financing at the point of sale, and manufacturers looking for a vendor finance partner.
Bank lessors finance equipment from many manufacturers and can combine leasing with the borrower's wider banking relationship.
BNP Paribas Leasing Solutions is one of Europe's leading equipment lessors, financing agricultural, construction, transport, IT and office equipment for businesses directly and through manufacturer and dealer partners in more than 20 countries.
Best for. European SMEs and mid sized companies, and manufacturers that need a pan European vendor finance partner.
BPCE Equipment Solutions was created when France's Groupe BPCE bought Société Générale Equipment Finance. BPCE announced in March 2025 that the acquired business brought a EUR 15 billion portfolio and operations in 24 countries, making the group what it calls the European leader in equipment leasing.
Best for. Industrial and transport equipment financing in Europe, with reach into the US, Brazil and China.
Wells Fargo Equipment Finance is one of the largest bank owned equipment finance businesses in the United States, covering construction, transportation, healthcare, technology, agriculture and specialty industries, as well as vendor programmes for manufacturers.
Best for. US mid market and large corporate borrowers that want equipment finance as part of a wider banking relationship.
Japan's leasing companies grew from domestic equipment leasing into diversified global groups covering aircraft, ships, real estate and renewable energy.
Mitsubishi HC Capital leases and finances equipment in Japan, the Americas, Europe and Asia, alongside aircraft, marine and environmental energy assets. It reported total assets of about JPY 13.1 trillion for the fiscal year to March 2026.
Best for. Japanese companies abroad and international businesses financing vehicles, industrial and IT equipment.
ORIX started as an equipment leasing company in 1964 and is now a diversified financial group spanning leasing, real estate, insurance, banking, energy and private equity. It reported total assets of about JPY 18.0 trillion for the fiscal year to March 2026, of which equipment leasing is one part.
Best for. Corporate equipment and auto leasing in Japan and Asia, and larger cross border asset finance.
Tokyo Century is a Japanese leasing group active in domestic equipment and IT leasing, auto leasing, aviation through its stake in Aviation Capital Group, and international equipment finance through partners in the Americas and Asia.
Best for. IT and office equipment leasing in Japan and specialty asset finance internationally.
Figures are the latest each company has published. They measure different things, portfolio, receivables or total assets, so they are not directly comparable. The Japanese groups' totals include non equipment businesses.
| Company | Model | Latest disclosed metric |
|---|---|---|
| John Deere Financial | Manufacturer captive | USD 57.2bn receivables and leases, FY2025 |
| Cat Financial | Manufacturer captive | USD 36.9bn total assets, September 2025 |
| Siemens Financial Services | Manufacturer captive | EUR 33.1bn total assets, FY2025 |
| DLL | Vendor finance | EUR 45.7bn portfolio, 2025 |
| BNP Paribas Leasing Solutions | Bank owned | Not separately disclosed |
| BPCE Equipment Solutions | Bank owned | EUR 15bn portfolio acquired, 2025 |
| Wells Fargo Equipment Finance | Bank owned | Not separately disclosed |
| Mitsubishi HC Capital | Japanese leasing group | About JPY 13.1tn total assets, FY to March 2026 |
| ORIX | Diversified financial group | About JPY 18.0tn total assets, FY to March 2026 |
| Tokyo Century | Japanese leasing group | Not separately disclosed |
Watch for advance fee equipment finance scams. Large lessors do not ask borrowers to pay a "security deposit", "insurance bond" or "processing fee" into a personal or offshore account before credit approval. Check that the lessor is the regulated entity it claims to be, call it on a number from its official website, and never pay anything before you receive a signed lease or loan agreement from the lender itself.
Time in business and cash flow. Most large lessors want two or more years of trading and financial statements showing the business can meet payments from operating cash flow.
The asset itself. Equipment with a deep resale market, such as tractors, excavators or trucks, is easier to finance than specialised or customised machinery. Lessors size the deal against expected resale value.
Deposit and guarantees. Smaller or newer businesses are often asked for a deposit, a personal guarantee or additional collateral.
Deal size. Captives and vendor lessors finance individual machines. Large or multi asset projects, such as a fleet, a factory line or energy equipment, may need a structured facility, where debt underwriting and a lender ready file make the difference.
For US borrowers comparing lenders beyond leasing, our list of the top 50 asset based lenders in the USA covers alternatives secured on receivables, inventory and equipment.
Financely works with companies that need equipment finance beyond what a dealer programme offers, from fleets and production lines to energy and mining equipment. We prepare the lender ready file and place it with banks, lessors and private credit funds from our network of more than 12,700 verified lenders.
Already have a supply contract or long term customer agreement for the equipment's output? That contract can strengthen your file, and asset based lending structures can be built around it.
Among the largest are manufacturer captives such as John Deere Financial and Cat Financial, vendor finance specialist DLL, bank owned lessors such as BNP Paribas Leasing Solutions, BPCE Equipment Solutions and Wells Fargo Equipment Finance, and Japanese groups such as Mitsubishi HC Capital, ORIX and Tokyo Century.
Leasing suits equipment that becomes obsolete quickly or that you want to upgrade regularly, such as IT. Financing suits long life equipment you plan to keep, such as heavy machinery. Tax and accounting treatment differs, so check with your accountant.
Yes, but lessors usually ask start ups for a larger deposit, a personal guarantee or extra collateral, and may cap the amount until the business has a trading record.
The 2026 Monitor 100 report put the combined net assets of the 100 largest US equipment finance companies at USD 593.8 billion, with USD 211.9 billion of new business in 2025. Leaseurope reported almost EUR 203 billion of new leasing volume in Europe in the first half of 2025.
Disclaimer: This article is for general information only and does not constitute legal, tax, accounting, investment or regulatory advice. References to specific companies are based on publicly available sources and do not imply endorsement, recommendation or any commercial relationship. The order of companies is illustrative and not based on a single uniform metric. Financely is an advisory and arranging firm. It is not a bank, lender, lessor, broker-dealer or investment adviser. Any financing is subject to lender underwriting, due diligence, credit approval, documentation and conditions precedent, and no outcome or timeline is guaranteed.
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