Commercial Equipment Loans

Seacoast Bank has commercial equipment lending solutions to help your business remain competitive and profitable.

Understanding Equipment Loans

An equipment loan allows businesses to acquire equipment and machinery without paying the full cost upfront. Instead, you borrow the funds from a lender and repay the loan over time, typically with interest.

These loans are specifically designed to help businesses of all sizes purchase equipment necessary for their everyday operations, like manufacturing machinery, vehicles, computers or specialized tools.

Seacoast's Commercial Equipment Financing

Whether you’re looking to buy, replace or refinance your business equipment or vehicles, Seacoast is here to help.

Our team of Florida-based commercial bankers has the knowledge and experience to structure a custom equipment financing solution that enables you to preserve capital while getting the right assets at the right volume to stay competitive.

Seacoast’s Commercial Equipment Financing can help:

  • Purchase the large-scale equipment you need without using capital
  • Restructure cash flow to lower payments while maximizing budgets and return on investment
  • Operate more efficiently by replacing obsolete and failing equipment
  • Leverage funding for a wide range of assets, technologies, and projects, including costs for delivery, installation and more

Commercial Equipment Loan uses:

  • Heavy equipment and construction equipment
  • Farm or agriculture equipment
  • Technology, computers and software
  • Small business or commercial equipment needs
  • Medical or laboratory tools
  • Retail expansion

 

Why Seacoast Is The Best Choice For Commercial Equipment Financing?

Local, Same-Day Decisions

Local, Same-Day Decisions 1

Low Fixed-Rate Options

Low Fixed-Rate Options

Financing from $10,000

Financing from $10,000

Up to 100% Financing

Up to 100% Financing

Getting You The Right Equipment For Your Business Needs

We have been successfully partnering with Florida businesses since 1926. Our financial and business industry knowledge, expertise, deep community roots, cutting-edge technology and digital capabilities set Seacoast Bank apart from our local peers and larger competitors.

So let us put our expertise and successful track record to work for you.

Propel Your Business Growth
Financing your business's equipment needs is a critical step for any business and having a partner with the right experience and knowledge makes all the difference. Seacoast offers flexible equipment financing solutions with competitive structures and rates, up to100% financing, flexible terms, and fixed rates providing predictable monthly payments to manage cash flow and budgeting.

Dependable Florida Business Expertise
We have been successfully partnering with Florida businesses since 1926. Not many banks can say that today. Our financial and business industry knowledge, expertise, and deep community roots combined with cutting-edge technology and digital capabilities set Seacoast Bank apart from our local peers and larger competitors. Let us put our knowledge and successful track-record to work for you.

What You Need To Apply:

  • Three years of tax returns for your business and each guarantor
  • Personal financial statements
  • Driver’s license information for each owner
  • Identifying information, including date of birth and documentation for each individual that has with 25 percent or more beneficial ownership in the legal entity and one individual with significant managerial control.2
  • A Florida-based business operating for a minimum of three years

 

 

1. Subject to receipt of all required documentation, day, and time of application.
2. Each time an account is opened for a covered Legal Entity, the Bank Secrecy Act requires us to ask you for identifying information (name, address, date of birth, tax identification number), as well as identification documentation for each individual that has 25 percent or more Beneficial Ownership in the Legal Entity; and, one individual that has Significant Managerial Control of the Legal Entity. If you are opening an account on behalf of a Legal Entity, you will be required to provide name, date of birth, Tax Identification Number, and address. For foreign owners, you also will be asked to provide a copy of the owner’s passport, and certify that all information is true and accurate to the best of your knowledge. You may access a form to be completed before account opening at the following link: CERTIFICATION OF BENEFICIAL OWNERS OF LEGAL ENTITIES

How To Apply For A Commercial Equipment Loan

1. Gather Your Info.
For your convenience, we've listed the items you'll need for your application in the "What You Need to Apply" section above.
2. Enter Your Info.
Submit your information in the secure account that will be created when you click "Apply Now". You'll have the ability to begin & save your application to return to later.
Submit
Submit your information in the secure account that will be created when you click "Apply Now." You'll be able to begin and save your application to return to later.

Equipment Loan Lengths

The length of an equipment loan, or the loan term, can vary depending on the type of equipment being financed, the overall cost, and the chosen term length. 

However, most equipment loans can be broken down into short, medium and long-term loans.

Short-Term Loans (12-36 Months):

Short-term equipment loans are often used for equipment that requires frequent upgrades, such as computers or software. They may also be used to finance equipment with a lower overall cost. 

A Commercial Line of Credit is another great option for these types of equipment purchases.

Medium-Term Loans (36-60 Months):

Medium-term equipment loans are often used for equipment with a moderate lifespan, such as manufacturing machinery or specialized tools. These loans offer a manageable monthly payment with moderate interest contributions.

Long-Term Loans (60+ Months):

Long-term equipment loans are used for expensive equipment with a longer lifespan, such as construction machinery, heavy equipment or special medical devices. Longer-term loans offer the lowest monthly payment option but may have higher overall costs associated with the extended repayment period.


Commercial Equipment Loan FAQs

How does a Commercial Equipment Loan differ from a regular business loan?

  • A commercial equipment loan is specifically used for purchasing equipment. It uses the equipment as collateral, often resulting in better terms and lower interest rates. A regular business loan is more general and can be used for various purposes, requiring different forms of collateral and a longer approval process.

What is a Commercial Equipment Loan?

  • A commercial equipment loan allows business owners to borrow money to purchase, repair or replace large-scale equipment related to their business.

How does a Commercial Equipment Loan work?

  • With an equipment loan, the equipment is the collateral. If a business owner doesn’t meet the terms of the agreement, the financing partner may reclaim the piece of equipment but nothing else.

What is the difference between a Commercial Equipment Loan and a lease?

  • For an equipment lease, the lender purchases it and leases it to you at a predetermined monthly amount. At the end of the month, the lender still owns the equipment. With an equipment loan, you, as the business owner, purchase the equipment through a loan and pay it down monthly with interest. At the end of the loan, you fully own the piece of equipment.

What types of equipment can I buy with a Commercial Equipment Loan?

  • You can purchase heavy machinery, company vehicles, manufacturing equipment and more with an equipment loan. Commercial equipment loans can be a great solution for purchasing, repairing or replacing large-scale business machinery.

Connect with a Local Banker about Commercial Equipment Financing.

Are you interested in contacting a local Florida banker to discuss your financial needs? We’d love to speak with you. Schedule a consultation today.

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At Seacoast Bank, everything we do is based upon core beliefs summarized in the Four Promises we make to you. When you entrust your banking to us, we promise to:
right team to serve you
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