Having the right equipment is essential for the growth of your business, and we’re here to help you seize opportunities and enhance operations with an equipment loan designed just for business owners like you.
Business Equipment Loan
The Equipment You Need to Succeed
Our Business Loans empower growth by ensuring you have the right equipment to take on new opportunities and deliver results. Leverage our flexible terms and competitive rates to pave the way to a brighter future for your business.
With a Chartway Business Equipment Loan, you can benefit from:
| Standard Terms | Rate - As Low As |
|---|---|
| Fixed for 5 years | 8.50% |
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Frequently Asked Questions
How can I qualify for a Chartway Business Loan?
You will need to have:
- Business established for at least two years with 1 year tax returns
- Liquidity to Total Debt = 7%
- Combined Net Worth (borrower plus guarantor) at least 3x the loan amount for term loans and lines of credit, 2x for vehicles and Residential Commercial Real Estate.
- Businesses must have a Chartway account with Prime Share and be located within Chartway’s markets (Virginia, Utah, Northern Arizona, Southern Nevada, North Carolina, Houston Texas area)
- Business documentation and identification required from borrower and guarantors
How can I reach out for more questions?
- If you have questions regarding our Business Loans, please give us a call at (877) 609-8533.
Is there a Loan Origination Fee?
- A loan origination fee will apply to each small business loan. This fee is permitted to be deducted from the loan proceeds.
Is a down payment required?
- Chartway generally loans up to a percentage of the current asset value for Commercial Vehicles or Equipment provided as collateral. In situations where the purchase price or refinance amount exceeds this limit, a down payment would be necessary.
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