WesBanco offers business equipment financing to purchase the machinery and vehicles that keep your business moving in the right direction. Whether it’s new manufacturing equipment, medical or dental machinery and diagnostic tools, construction equipment, delivery vans or company cars, WesBanco business equipment and vehicle loans can help you make the purchases you need to get the job done.
Maybe you started your construction company two years ago, and you need additional equipment to meet customer demand – or a company truck to haul your equipment. As your business grows, so do your needs for the appropriate equipment. Whether it’s time to replace a well-worn machine or purchase new equipment to increase production capacity, we can help. WesBanco is passionate about supporting the businesses in our communities with equipment financing that will take their offerings to the next level.
Loan amounts for equipment ranging $10,000 - $100,000
Fixed-rate loan with term length contingent on the equipment purchased:
Up to 84 months (7 years) for vehicles, and for equipment valued at $50,000-$100,000
Up to 60 months for equipment valued at $10,000 to $50,000
Purchased equipment or vehicle becomes the collateral for the loan
Borrowers must be an established business (least 2 years)
Express application process available
When you apply for a heavy equipment loan from WesBanco, the purchased equipment will become the collateral, and WesBanco will hold the lien until the loan is repaid. This also means there can be no other liens on the equipment. The Loan-to-Value ratio is 100% of the equipment or vehicle cost – including any installation expenses – and the borrower must provide the relevant invoice.
After you receive your lump sum for the purchase of your vehicles or equipment, amortized payments of principal and interest will begin. To simplify money management, automatic payments can be conveniently deducted from a WesBanco business checking account.
Additional business loan offerings from WesBanco
WesBanco offers more than business equipment financing. If you need a Line of Credit to cover operating costs, a Commercial Real Estate loan to purchase a new space, or a term loan to manage other business expenses, our Commercial Lending Officers can help you find the right borrowing solution. Start the application process, learn more below or contact us today.