Equipment financing in Texas

Are you a business owner in Texas looking to invest in new equipment? Equipment financing from Customers Bank might be the solution you need to grow your business.

Equipment financing has become increasingly popular among small and medium-sized businesses, allowing them to get the necessary equipment without breaking the bank. Whether you’re in the construction industry, agriculture, healthcare, manufacturing, transportation, packaging, utilities, or any other field that requires specialized equipment, financing options are available to help you acquire the necessary tools your business needs to thrive.

Customers Bank is a leading provider of machinery and equipment financing, catering to businesses of all sizes. These loans can generally be utilized to purchase new equipment or acquire used equipment. We specialize in industry-specific solutions and offer flexible business loan options to support your business’s growth.

Benefits of equipment financing

Equipment financing provides several benefits that can help your business thrive.

1. Preserve working capital. You can preserve your working capital and still access the latest technology and machinery. Instead of paying a large sum upfront, you can break down the cost into manageable monthly payments. This helps you maintain a healthy cash flow and allocate funds to other important business areas, such as marketing, hiring, and expansion.
2. Access the most advanced tools. In today’s fast-paced business world, staying competitive means having access to the latest technology and machinery. By opting for equipment financing, you can acquire the necessary equipment without worrying about obsolescence. This ensures that your business remains at the forefront of innovation, giving you a competitive edge in the market.

Types of equipment financing options

When it comes to equipment financing in Texas, several options are available to suit your business’s unique needs. The most common types of equipment financing include:

• Equipment loans: If your equipment vendor is unwilling to provide financing or you believe better terms may be available elsewhere, consider Customers Bank’s equipment loans. They usually have fixed interest rates and repayment periods ranging from three to seven years. Depending on your creditworthiness, loan amounts can range from $25,000 to $5 million.
• SBA 7(a) loans: Geared toward existing small businesses and new ventures, these SBA loans can be short- or long-term and typically come in amounts up to $5 million with low fixed interest rates. The program offers various loan options, so consult a Customers Bank SBA loan specialist to determine the most suitable option for your business.
• Term loans: Whether you need to purchase new equipment or invest in technology infrastructure that a credit card can’t cover, from Customers Bank term loans can help you make large purchases while keeping operations steady. You would borrow a lump sum and then pay it back with interest over a set period. Loan amounts and terms vary based on the lender and your credit history, the purpose of the loan, and the amount you borrow.

Conclusion

Equipment financing can finance new and used equipment and enable you to take your Texas business to new heights. One of Customers Bank’s experienced equipment financing experts would be delighted to help you navigate the equipment financing landscape. Contact us today.