Business Equipment Loans

Get the equipment your business needs. PSECU offers low rates and loan terms up to 84 months.

Financing Guidelines

• Up to 100% financing available.
• Loan amounts available up to $200,000. If your needs exceed $200,000, please give us a call to see if we can help.
• Borrower to pay all costs for filing appropriate Uniform Commercial Code form(s).
• Terms over 60 months available on equipment financed within Pennsylvania only.

Some restrictions may apply. Speak to one of our Business Service Representatives for details.

Insurance & Liens

PSECU 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.

Restrictions

PSECU will only finance vehicles/equipment located and titled in the United States and its territories. Loans for over 60 months are available in PA only. All other states where we do business are under 60 months. 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 PSECU

Dealer Purchase

• 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.

Private Party Purchase

• 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.
• Private Party Vehicle/Equipment Purchase form
  Use this form for a private party equipment purchase between seller(s) of Equipment and Purchaser(s) of Equipment Being Financed Through PSECU.

Lease Buyouts

• 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.
• 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).

Refinance of Existing PSECU Loan

• Year, make, model, options and VIN or serial number of vehicle / equipment being purchased.
• PSECU must have the original title of vehicle.
• To refinance an existing personal loan, you are required to borrow an additional $1,000 on top of your current payoff.

Rollover from Another Financial Institution

• 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 payoff loan.
• Copy of bill of sale / invoice and window sticker (for new motor vehicles / equipment purchased within the past 90 days).

Member-Owned Vehicles/Equipment

• Year, make, model, options and VIN or serial number of vehicle / equipment being purchased.
• Original title (Vehicle).

Rates listed are for sole proprietors and general partnerships only. Corporate, LLC, and Limited Partnership loans will vary between 2.99% and 9.49% for equipment. The actual rate will depend on information provided by the applicant, an evaluation of credit, term selection and type of vehicle/equipment purchased.