Business Equipment Loans

Get the equipment your business needs. PSECU offers low rates and loan terms up to 60 months.

Rates

Description	Term	APR*
New / Used Equipment	12-24 Months	5.24%
New / Used Equipment	25-60 Months	6.24%

*Annual Percentage Rate

Rates listed are for sole proprietors and general partnerships only. Corporate, LLC, and Limited Partnership loans will vary between 5.49% and 8.49% 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.

More Rates

Financing Guidelines

• Up to 100% of the invoice price for loan amounts up to $50,000
  (Some restrictions may apply. Please call us for details)
• Up to 80% of the invoice price for loan amounts from $50,001 to $100,000
  (Some restrictions may apply. Please call us for details)
• Maximum amount financed is $100,000
• Borrower to pay all costs for filing appropriate Uniform Commercial Code form(s)

Insurance and 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. All fees to be paid by borrower.

Restrictions

PSECU 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 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 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).

Important: PSECU will not finance vehicles with flood, theft, or salvage titles.