Business Equipment Loan

Use:

  • The Business Equipment Loan is an amortizing term loan for financing specific business equipment purchases with the security of knowing a fixed payment amount and repayment term. This loan is secured by the equipment financed and loan proceeds are generally paid directly to the seller.
  • Qualifying criteria may be more flexible than other business loans and lines of credit.

Loan Amounts:

  • Up to $250,000; Some limitations apply based on size and type of business, age of equipment and down payment.
  • Minimum $10,000

Terms:

  • Up to 5 years
  • Term depends on age of equipment and amount of down payment
  • Longer terms available with SBA Express guarantee

Interest Rate:

  • Adjustable; floating with CB&T's Prime rate. Rate to be determined based on overall risk factors of the applicant.

Loan Fees:

  • One-time loan fee of 1% of loan amount
  • Other closing costs will be charged as applicable to perfect the Bank's collateral position. Late charges will also apply.

Other Criteria:

  • Business must be profitable
  • Personal guarantees of all principals with 20% or more ownership in the business
  • Acceptable credit histories
  • Business and personal financial information required for credit requests greater than $50,000
  • Collateral required for all equipment loans.
  • Other limitations apply

Maximum Advance:

  • New Equipment: 100%
  • Used Equipment: 75%


 

Business CashLine Line of Credit
Business CashLine Term Loan
Business Equipment Loan
Business Auto Loan
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