Business Banking · Business Loans ·
Take your business to the next level with an equipment loan. Our experienced loan officers will work quickly to get you the funding you need for your equipment. And you can rest assured knowing that our local lending decisions are made by experts who understand the unique economic landscape of our community.
What is an equipment loan?
As your business expands, it will need to meet increasing demands for optimal performance, deadlines, and production. However, purchasing equipment outright can put a financial strain on your business’s cash flow. An equipment loan may be the ideal solution to keep your business performing optimally and meeting demands.
Equipment loans can be used by businesses to purchase new, or replace existing, equipment. Equipment loans are typically secured by the equipment that’s being purchased. This means that you may not need additional collateral, like real estate or inventory to apply for financing.
Generally, equipment loans are designed to help businesses purchase the following types of equipment:
- Large vehicles (semi-trucks)
- Farm equipment (tractors and combines)
- Manufacturing equipment (laser cutters, drills, saws, etc.)
- Large commercial printers
- Healthcare equipment (x-ray machines, diagnostic machines, pumps, etc.)
- Construction vehicles and equipment (skid steers, track hoes, mixer trucks)
- Restaurant equipment (ovens, ranges, etc.)
- Computer equipment (servers, scanners, 3-D printers, etc.)