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.
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