Whether it's new equipment to expand your business capabilities or replace old equipment, we have the loan solutions for you!
A typical equipment loan has a maximum term of 5-7 years with a maximum loan to value (LTV) of 75% of the purchase price. It is possible to borrow the entire purchase price by pledging security interest in other assets, such as other equipment or real estate. This example illustrates a possible monthly payment scenario.
Equipment purchase example:*
Purchase price = $250,000
Loan amount based on LTV 75% = $187,500
Interest rate = 6.5% fixed 5 year term
Monthly payment = $3,668.65
*Based on a hypothetical transaction. Final rates and terms are determined after review of borrower's credit and financial condition.
To learn more about how our commercial loan services can benefit your business today, call:
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