TimePayment Logo


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24 User Reviews


Overall Score

LAST UPDATED: July 5th, 2022

TimePayment Corporation is an equipment financing and leasing company founded in 1986 in Burlington, Massachusetts. The company provides financing for business equipment up to $1,000,000+ and offers affordable monthly lease payments. 

TimePayment serves small businesses to large corporations and works with all types of credit histories. The company's services are best suited for business owners needing quick access to capital for equipment acquisition.

Small business leases through TimePayment are primarily for equipment purchases and rentals for both commercial businesses and residential needs. The company works with all credit histories and all business sizes and types. Borrowers may buy the equipment in full at the end of the agreed lease or continue to rent on a month-to-month basis. 
Consumers that choose TimePayment should remember that they must have a credit score of 550 or higher.

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The Good

  • Available Equipment Lease Types
  • Customer Portal
  • Other Benefits

Available Equipment Lease Types

With TimePayment, businesses of varying size have the opportunity to apply and obtain equipment financing to help fund new or existing projects. Even startups are eligible for financing, which can't be said for many competing lenders.

So how does financing with TimePayment work? 

Borrowers have several lease structure options through TimePayment. Small business owners can choose a commercial lease from $500 to $1,000,000+ or a consumer lease for residential equipment up to $15,000. Lease terms range from 14 to 60 months. 

Borrowers can also choose from lease-to-own, fair market value, and split funding leases. Once a lease term ends, borrowers can buy the equipment in full or continue to rent monthly.

Customer Portal

Borrowers can manage monthly payments through an online customer portal account on the company's website. Customers are able to set up automatic billing payments, download leasing contracts, and view invoices and payment history.

This company also offers educational resources on its website and Customer Service Representatives are available by phone or email to answer any questions about the leasing process.

Other Benefits

Other benefits offered by TimePayment include the following: 

  • A broad credit window, which lowers the barrier to entry for lease programs 
  • Fast approval and funding within 24 hours
  • Fixed monthly payments
  • Lease payments may be tax-deductible
  • Several equipment leasing options
  • Manage payments through an online account

The Bad

  • Equipment Needs Only 
  • Pre-Contract Fee Disclosure 

Equipment Needs Only 

As explained, TimePayment facilitates equipment financing only. 

Pre-Contract Fee Disclosure

Transparency is important to TimePayment, so lease contracts disclose all fees and other related terms and conditions for each lease including prepayment penalties, origination fees, monthly insurance and administrative fees, and closing costs. 

But for the first time equipment borrower with no prior knowledge of the pricing structure of an equipment lease, public disclosure on the website would be useful, even if full disclosure is not the norm for an equipment leasing firm.


The Bottom Line

TimePayment is well-suited for any age or size business that needs equipment financing. Borrowers can choose from several lease types from 14 to 60 months and make automatic billing payments online. If you're interested in pursuing a lease, you can get a free quote through a lease calculator on the company's website.

While all potential fees are outlined in customer contracts before they are signed, be aware that multiple TimePayment reviews express a negative consumer experience leasing with this company on the basis of fees. If you work with TimePayment (or any lender or leasing company), make sure you understand all financing terms and conditions prior to signing a contract. 

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24 Reviews

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Redfishrex Hilton Head Island, SC

I was sold a false bill of goods so to speak. Terrible communication with emphasis on taking advantage of their clients. It would take a small/ short book to describe the misery and ineptitude. My review is simply a warning. Stay away or be prepared to be taken advantage of or as I like to say "ripped off".

1 month ago

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John Doe Big Rapids, MI

Like everyone else I was sold a line of xxxx. Was told I could pay off early without penalty. When I called to get pay off it’s the exact same as paying the loan out to term. The salesman promised me I could pay it off early and avoid the ridiculous interest charges. 20k will cost you 30k.

1 month ago

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Sam Ayanam Manassas, VA

The worst experienced ever. I have similar experience as everyone here so far. I was paying almost $300.00 a month for an Oki machine of a market value of $700.00, but was leased for $3,395.00. The machine never worked and I couldn't return it. But I was still making the payments until my business went went down and I had nothing left in my account. They've now taken me to court stating that I owe them $9,000.00, for the machine and unpaid insurance fee for the machine (strange).

3 months ago

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Antoniello Family Brattleboro, VT

you would be better off sticking a hot knife in your eye... and then falling face first into molten lava than you would be working with these scam artists...Probably the best scam I have ever seen...and they found a way to be able to do it legally... Nothing but manipulation and lies... I always paid more than what my monthly fee was supposed to call for...and was never really given a good answer as to why.. 6 years of being screwed and now I am no better off than I was before.. They do not care about you or your business...The only thing they care about is getting your money and making you feel like a piece of turd throughout the entire process. . Even when COVID hit and I wasnt able to use the ATM, they wouldnt work with me at all...they didnt care...just wanted their money

5 months ago


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ramesh pothuru Morrisville, PA

best customer service and provided all required guide lines and required all supporting documents, flexible payment options.

4 months ago

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Erika Lirardi East Rutherford, NJ

Horrible predatory lenders. You will pay 3 to 5 times what you borrow from them you’ll make your payments and at the end of your contract he will still owe them money or have to send the equipment back

4 months ago

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Tenisha Marshall Chicago, IL

Do Not do business with TimePayment. Like others here I wanted to pay my loan off early and was told I would still have to pay full interest fees. Then they make me pay their insurance fees, along with every other fee they can give. I’ll be paying them for 4 years for something I could’ve paid for in 1 year.

6 months ago

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Jaz Carteret, NJ

I do not recommend financing with TimePayment. I am paying $5000 more than the equipment price on a 36-month lease. The equipment I purchased from Glownar barely works and I am not stuck with this equipment paying this high monthly payment. They have harassed and threaten me and I am just sick of them. Trust me -- it is not worth it at all.

8 months ago

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karen o Herndon, VA

DO NOT DO BUSINESS WITH THIS COMPANY! I've been in business for 20+ years and have never seen such deception in a leasing company! I paid off a $6k contract in 6 months to avoid paying interest fees (allegedly my contract was for 1-year 0% interest). They charged me several hundred $ over the lease cost, saying it was taxes -- this is absurd -- I've had numerous 0% deals over the past several years and have NEVER been charged over the principal amount if paid within the agreed period. In addition, they send a monthly invoice which only shows a credit on the account, failing to summarize principal, less payments equals BALANCE. I've never seen such absurdity ever!! AVOID this company!! They are loan sharks with hidden fees and no accountability when called out on their indiscretions. I'd be embarrassed to work for a company like this!!!!

1 year ago

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Hobart Pritchard Chicago, IL

The absolute worst loan company I've ever dealt with in my entire life! Hidden fees are absolutely ridiculous! If your card expires they hit that thing anyway three or four times at $20 a pop! $3 when they send an invoice home! You can't pay off early and save interest rate! The first day after the payment is due they are calling several times a day every day ! And the people you talk to are absolutely rude! Stay away from these people! I have been late 3 X first two times was unforeseeable didn't expect it the third time I called and told them and they still tried hitting my credit card and hit me multiple times with the $20 fee!

2 years ago

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Anon Trenton, NJ

Shady business. Non cancellation agreement. Listen, I had my product for less than a week, I called the product vendors they said speak to time payment, I call time payment they said speak to the product vendors. Time payment telling me that I CAN'T return the product! I called the vendors and let them know, this corp can charge me continuously I will not give them a dime. Its an emergency decision on my part. I have zero to give due to business not falling through, plus additional insurance? So I offered to return the product, and pay for shipping myself. As long as the product vendors return the money Time payment corp gave them. Otherwise it'll be FREE equipment, I don't want.

2 years ago

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Wanda Wilson Greensboro, NC

The lease process wasn't bad and customer service was always nice whenever I called. Problem- I paid the balance in full before the payment was due. Instead of the CSR telling me that the auto draft was still valid, she took the payment. The company ignored that the bill was paid in full and still drafted out the payment causing an overdraft for the other pending payments. I was told they don't reimburse for their error. I advise you to shop somewhere else for lease options. I will never use this company again.

3 years ago

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jaime Ashtabula, OH

Fees for everything if they call you if your late on a payment charge you $5.00. If you do not have insurance they charge you $20.00. There is not early pay off option your stuck with full amount so if you buy 2000.00 in stuff they charge 4000.00 and you want to pay it off in 6 months you still owe 4000.00. if i would have looked into this more i would have just not bought all at once but sales guy made it sound all so easy. They are not the nicest to talk to either took them 3 months to reset my online account so i could see what was going on then charged me $5.00 for paper statement. NEVER AGAIN ! THANKS FOR THE DIRECTION PET EDGE

3 years ago

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Josefina Martinez Los Angeles, CA

Please don't do business with this company the machine never works we speak with them and nothing work, they stole your money.

2 months ago

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Chaka Stewart Syracuse, NY

Worst company ever my sink was 2900 they charging me 7000 there nothing but scamming people out of money my payment was 129 they lie and said my pay is 155.00 they lie I reported to the better Business Bureau

6 months ago

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Carlisa Wheless Richmond, VA

they are a rip off. I was told i can pay off sooner if i did make higher payments . what i didnt know that im paying them $5,000 extra on top of intial equipment purchase and no one there could tell me why . None of this was shared with me . they misled me and tricked me. i wish i could leave No Stars they are horrible to work with

10 months ago

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Claude Williamsburg, VA

As many others have said, the terms are atrocious! No early pay-off, fees everywhere, and don't even think of returning your purchase. I wish I had performed more due diligence when working with this company. I purchased a 3D printer and some spools of filament to the tune of $1500, with interest I now owe them $2700! The only thing I can do is suck it up and pay. There should be a way to pay off the balance early minus the ridiculous interest. Never again will I do business with this company. Stay away as if your life depends on it!

1 year ago

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civilengineer42 Montgomery, TX

Worst Company I have ever dealt with. COVID19 has all but put me out of business. I am keeping my business going by propping it up from my regular job. I have never gone 30 days late on the payments. But they will not do anything about the out of this world late fees. To the the tune of 45% of the payment per month. And refuse to reverse or help in any way during this entire COVID Mess. STAY AWAY. RIP OFF. SCAM COMPANY. THERE IS NO WAY THIS COMPANY GOT ANY TYPE OF GOOD REVIEW. THAT IS WHY THEY HAVE ALREADY BEEN SUED AND LOST A CL%%%%%% ACTION LAW SUIT. MAYBE THEY NEED TO BE SUED AGAIN

1 year ago

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Priscilla Greenville, SC

I leased a transportable power chair unknowingly. I thought that I was purchasing the chair, not leasing! The vendor did not clarify that this was a lease not purchase. I am wheelchair bound, on disability and social security. I cannot return and my lease can never be canceled. The vendors can’t be trusted!! Beware!!

1 year ago

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JT Petty ,

Time Payment is a terrible company to do business with. Their fees are insane. They charge a 10 fee each month for a statement that does not even have a date on it not when it was generated or when the next payment is due. Take your business elsewhere.

1 year ago

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Steve Kang Fullerton, CA

worst company tells lies and NEVER EVER use them guys... they told us 40% int rate accruing and charged it from day 1.,.. then reported late payments ... worst company ever... they also got sued for lying and had to pay all customers for fraud

2 years ago

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Gulfcoast Graphix Fort Myers, FL

Literally the worst financing company imaginable. They have tons of hidden fees. Also I had two $20 late fees in a four day period (my card expired). Also, the interest is added into your total at the beginning, and doesn't get taken off if you pay it off early. Be ready to pay 50% more than your loan. STAY AWAY!!!!

2 years ago

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J Fleeger Cordova, TN

It’s on me for not reading the line,” Non-Cancellable”. We are Moving to new city but will be stuck with paying for a service I no longer can use. No early cancellation fee nothing. You pay for it all no matter if you use it or not. I will never do any business with anyone that uses them. Ever.!!!!

3 years ago

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Sarah Martino Greenfield, MA

Terrible company!!!! Bought out our loan with 2 payments left. Raised our monthly payment with no explanation. Won't give us our buy out, won't return calls or emails, won't update website

1 year ago