Although they involve a similar goal and repayment process, equipment financing and leasing are two different services:
Equipment Financing allows you to apply for a loan so you can purchase new or second-hand equipment. Typically, that loan is deposited directly into your business bank account and repaid through monthly installments (with interest).
Equipment Leasing helps you rent the desired equipment, rather than buying it outright. This way, you can sample different tools, vehicles, and machinery over several years and won’t be stuck with it if you’re unsatisfied.