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Equipment Financing and Term Loans

When your business enters the stage of needing equipment, it’s important to have a strategy in place that maximizes your cash flow and current assets, all while positioning you to purchase the equipment you need. So whether you need commercial ovens, point of sale hardware or HVAC units, we can help.

Typically, the equipment you are purchasing serves as the collateral for the loan and we can finance up to 100% of the purchase price. Our team will work with you to get the best plan in place that keeps your cash flow, well, flowing.

Common Uses of Term Loans

  • Replacing/Updating older equipment
  • Additional equipment to support expansion
  • Refinancing an existing equipment loan/lease
  • Leasehold Improvements
  • Purchase of existing Business
  • Large Inventory purchases
  • Refinancing of existing debt

Equipment We Finance

The types of equipment we finance includes the below and our equipment loans start at $5,000.

  • Title Vehicles including Trucks, Vans, Autos, and Trailers
  • Construction Equipment including Excavators, Cement Mixers, Dozers, and Loaders
  • Machining Equipment including Lathes, Wire Machines, CNCs, Grinders, and Milling Machines
  • Medical Equipment including X-Ray Machines and Dental Equipment
  • General Office Equipment
  • Farm Equipment

Equipment Loan Rates and Costs

The cost of your equipment or term loan will be determined by several factors, including the total amount you need to borrow, the interest rate and term.

  • Equipment and term loan rates are fixed, and we offer a rate discount if the loan payment is automatically deducted from a First Commonwealth Bank Business checking each month
  • Terms available from 12-72 months
  • Insurance is required for titled vehicles
  • Small Business Administration (SBA) options available
  • Term loans can be unsecured or secured by UCC filing

Getting Started

Whatever your strategic direction and goals may be, you can be confident you’ll find the financing solution that best meets your company’s needs. Connect with us at a local office to get started and apply.

Additional Resources for Your Business

Equipment loans designed with the best structure and term for you are just one of the many solutions we can provide for your business. Check out the resources below and reach out to us at any time to learn more and stay connected with us on LinkedIn.

Avoiding Identity TheftDownload our quick guide for information on protecting yourself and your business from identity theft

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Benefits Consulting – The cost of employee benefits is often the second largest expense for businesses. Our Benefits Consulting team would love to connect with you to make sure you’re making the most of this investment