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Equipment Loans

Equipment Loans

Give your business the tools it needs to thrive with equipment loans.

Contact a business expert

Whether you are looking to expand your business, upgrade your current equipment, or make a costly repair, Texell can help with an equipment loan. Our business experts find the loan that's tailored to meet your needs.

Equipment loans with Texell check all the boxes:

  • Our commercial experts to guide you to make loan decisions to fit your needs. 

  • Combine all of your equipment lending needs in one place. Texell can finance new and used equipment for your business or get funds for costly repairs.

  • Select from a variety of loan terms and payment options.

  • Quick and easy approval process.

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make an appointment

Get a personalized consultation with a Business Loan expert.

Schedule an appointment

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Talk with a Commercial Loan expert Monday – Friday, 9 a.m. – 6 p.m.

Call 254.774.5161.

Frequently Asked Questions:

Most lenders, including Texell, require borrowers to have a minimum score for business loans, including equipment loans. Texell will look at “Paydex” and Intelliscore Plus scores during the process. You will also need to show at least three years in your business under current ownership.

Applying for an equipment loan may require some or all of the following documentation:

  • Business tax returns
  • Personal tax returns
  • Your books, records, and financial reports
  • Details regarding collateral
  • A third-party appraisal of the equipment may be required
  • Business plan

Texell will help you every step of the way. We are here to guide you through the loan application process to help your business succeed. We’ll work together to get a loan that best meets your needs.

The loan term depends on the maximum life of the equipment. However, the maturity for most new and used equipment loans is generally 10 years. Texell can finance up to 75% of the purchase price or value, whichever is less, for new equipment, and up to 50% of the net book value or 70% of the cost or orderly liquidation value for used equipment.

Many equipment loans will take a week or less to close. However, funding may take longer for loans that are more complex or ones that require government approval.

Yes, equipment loans can only be used for purchasing or repairing equipment. Texell has several other commercial lending options if you need funds for other business interests.

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