Commercial Equipment and Vehicle Loans
Do You Have the Tools You Need to Succeed?
No business can succeed without the right equipment. Consumers Credit Union offers commercial equipment and vehicle loans with competitive rates, flexible terms and personalized support to help local small businesses thrive.
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How Do Equipment and Vehicle Loans Work for Businesses?
Equipment loans are similar to many other types of small business loans, but designed to help finance the tools, technology, equipment, and vehicles they need to operate and grow. These loans typically offer competitive rates and flexible repayment terms, making it easier to invest in essential business purchases without tying up working capital.
The process of applying for an equipment loan typically includes:
- Determining the equipment or vehicle your business needs.
- Applying for financing with Consumers Credit Union.
- Reviewing available rates and loan terms.
- Receiving approval and finalizing the loan.
- Purchasing the equipment or vehicle and making fixed monthly payments over the life of the loan.
What information will I need to provide for an equipment loan?
- Basic business information, including insurance and business name
- Details about the equipment or vehicle being purchased
- Estimated purchase price
- Financial information requested by the lender
- Information about the business owners, if applicable
What can Equipment and Vehicle Loans Be Used For?
Our business equipment and vehicle loan options can be used to finance nearly any equipment your business needs, including:
- Delivery trucks
- Company cars
- Work vans and delivery vans
- Commercial trucks and trailers
- Construction equipment and heavy machinery
- Office equipment
- Manufacturing lines
- Industry-specific equipment (medical equipment, commercial ovens, etc.)
- and more!
Whatever your business needs to get the job done right, Consumers can offer flexible financing to help pay for it all.
How Can I Apply For A Commercial Equipment or Vehicle Loan?
Get started today with our online equipment loan application. Available to business owners in Michigan and select Indiana counties.
- Financing up to 100% of the purchase price
- Local lending decisions
- Highly competitive rates
- Flexible repayment terms—usually 3 to 7 years
- Fast turnaround
All loans subject to approval. Rates, terms, and conditions are subject to change and may vary based on creditworthiness, qualifications, and collateral conditions.
