Seacoast Bank Business Equipment Loans
Our flexible and competitive business equipment financing options help you maximize your company’s potential through purchasing, repairing or replacing large-scale operating equipment.
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A business equipment loan allows business owners to borrow money for the purchase, repair or replacement of large-scale equipment.
With a business equipment loan, the equipment is the collateral. If a business owner doesn’t meet the term agreements, the financing partner may reclaim the piece of equipment, but nothing else.
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 a business equipment loan, you, as the business owner, purchase the equipment through a loan and pay it down every month with interest. At the end of the loan, you fully own the piece of equipment.
From heavy machinery and company vehicles to manufacturing equipment, business equipment loans can be a great solution for purchasing, repairing or replacing large-scale business machinery.
Florida-based business and must be in business for a minimum of 3 years.
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Equal Housing Lender. Member FDIC. NMLS# 608046
1. Subject to receipt of all required documentation, day, and time of application.
2. Longer term at the discretion of the Seacoast Bank. In no case should the term of the loan exceed the useful life of the equipment being purchased or refinanced.
3. 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
