Machinery and equipment are an essential part of your business. Whether you are looking to expand your business, upgrade your current equipment, or make a costly repair, Texell can help with an equipment loan tailored to you and your individual business needs. Get the money you need quickly and give your business the tools and equipment it needs to thrive. Let Texell help you achieve your business dreams today.
Equipment Loans with Texell Benefits:
Local decisions for local businesses. Our loan officers live here too and understand our market. We are ready to help your business grow.
Combine all of your equipment lending needs in one place. Texell can finance new and used equipment for your business. We can also help get funds for costly repairs.
Select from a variety of loan terms and payment options.
Quick and easy approval process.
Get a personalized consultation with a local Commercial Loan expert at one of our branches.
Talk with a Commercial Loan expert Monday – Friday, 9 a.m. – 6 p.m.
Frequently Asked Questions:
What are the criteria for equipment loans?
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.
What documents do I need when I apply for an equipment loan?
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
Do you offer help with the loan application?
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.
What are your terms for financing equipment?
How long will my equipment loan take to close?
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.
Can I only use my loan for equipment?
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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