Get the equipment your business needs. PSECU offers low rates and loan terms up to 60 months.
Equipment Loan Terms & Rates | Description | Term | APR* |
| New/Used Equipment | 12-24 Months | 4.74% |
| New/Used Equipment | 25-60 Months | 5.74% |
| *Annual Percentage Rate | ||
Rates above apply to Sole Proprietors and General Partnerships. Rates for Limited Partnerships, LLC's, and Corporations may vary between 4.99% and 7.99% depending on term combined with information provided in the credit request, an evaluation of credit, and the type of equipment purchased.
Financing Guidelines - Up to 100% of the invoice price for loan amounts up to $50,000
(Some restrictions may apply) - Up to 80% of the invoice price for loan amounts from $50,001 to $100,000
(Some restrictions may apply) - Maximum amount financed is $100,000
- Borrower to pay all costs for filing appropriate Uniform Commercial Code form(s)
Insurance & Lien InformationPSECU must be named loss payee under your insurance policy providing fire, theft, collision and comprehensive coverage. You must provide PSECU with a copy of your policy. You may carry any deductible up to a maximum of $500. PSECU must be listed as the first and only lienholder. The following address should be given to the dealer for listing PSECU on the title: Pennsylvania State Employees Credit Union, 1 Credit Union Place, Harrisburg, PA 17110. Perfection of liens on financed equipment will be evidenced by filing the appropriate UCC-1 financing statements with the appropriate county and state. All $84 in fees to be paid by borrower.
Business Vehicle & Equipment Financing InformationPSECU will only finance vehicles/equipment located and titled in the United States and its territories. There are some transactions and vehicles/equipment for which PSECU will not lend funds. PSECU reserves the right to refuse to lend upon any collateral. Before attempting to finance a vehicle/equipment through PSECU, please contact Credit Services at 800.237.7328 nationwide or 717.234.8484 in Harrisburg, option 6, extension 3875 to determine whether PSECU will be able to provide financing. Business loans are only available in the following states: AL, CA, CO, FL, GA, HI, IL, IN, IA, MA, MI, MN, NY, NC, OH, OR, PA, TN, TX, UT, VA, WA, WI.
Information Required by PSECUPlease select your type of purchase from the list below to get your forms checklist:
- Year, make, model, options and VIN or serial number of vehicle / equipment being purchased.
- Complete copy of bill of sale / invoice.
- Copy of window sticker for new vehicles / equipment.
- Year, make, model, mileage, options and VIN of vehicle being purchased
- Complete copy of vehicle/equipment registration card, including both sections with vehicle/equipment and owner’s signature
- Year, make, model, options and VIN or serial number of vehicle / equipment being purchased.
- Name, address and telephone number of present lending institution.
- Account number and buyout of existing lease Refinance of Existing PSECU Loan.
- PSECU must have the original title of vehicle Rollover - New vehicles / equipment (purchased within 90 days).
- Account number and payoff of existing loan.
- Copy of bill of sale / invoice and window sticker (for new motor vehicles / equipment (purchased within the past 90 days).
- Year, make, model, options and VIN or serial number of vehicle / equipment being purchased.
- PSECU must have the original title of vehicle.
- Year, make, model, options and VIN or serial number of vehicle / equipment being purchased.
- Name, address and telephone number of present lending institution.
- Account number and buyout of existing lease Refinance of Existing PSECU Loan.
- Copy of bill of sale / invoice and window sticker (for new motor vehicles / equipment (purchased within the past 90 days).
- Year, make, model, options and VIN or serial number of vehicle / equipment being purchased.
- Original title (Vehicle).
Application Downloads Sole Proprietorships |
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