Business Equipment Loans
Flexibility That Fuels Business Growth
SCCU’s Business Equipment Loans make it easy to finance the equipment you need to keep your operations running smoothly. Whether you're purchasing or upgrading heavy machinery, retail fixtures, or restaurant equipment, we offer competitive rates, flexible terms, and personalized service tailored to your unique needs. By closing most loans remotely, we simplify financing and take the stress out of the process. Our honest and dedicated team delivers a seamless lending experience, prioritizing your business every step of the way.
Product Features
- Local Business Loan Advisor
- Available for New and Used Equipment
- Competitive Rates70
- Flexible Terms74
- Fast Approval Decisions67
- Close from anywhere with Simple Electronic Closing with Express Sign68
- Same Day Closings69
- No Pre-Payment Penalties
- Automatic Online Bill Pay
- SCCU Membership, with Free Online and Mobile Banking
- SCCU Member Service for the Life of the Loan
| Terms |
Terms available up to 60 months or the useful life of the equipment. |
|---|---|
| Application Fees |
None |
| Pre-payment Penalties |
None |
Frequently Asked Questions
A business equipment loan provides financing to help businesses purchase essential equipment, such as manufacturing tools, industrial machinery, heavy construction equipment, office technology, restaurant appliances, and retail fixtures. The equipment typically acts as collateral for the loan.
If you're ready to apply for a business equipment loan with Space Coast Credit Union, contact our dedicated Business Services Team to get started:
Brevard County: Call 321-752-2222
Broward County: Call 954-704-5000
Miami-Dade County: Call 305-882-5000
All other areas: Call 800-447-7228 (toll-free)
You can finance a wide variety of business-critical equipment, including but not limited to:
- Office technology (computers, servers, printers)
- Medical or dental equipmt
- Construction machinery
- Manufacturing and industrial tools
- Restaurant appliances
To qualify, you typically need:
- At least two years of operating history
- Satisfactory credit and cash flow
- A clear plan to use the funds for eligible equipment
The loan amount depends on the equipment’s cost, your credit profile, and our lending policies.
Yes, you can finance used equipment. However, the terms may vary based on the asset’s age, condition, and resale value.
The approval process usually takes 24–72 hours. The timeline depends on the application’s complexity, the loan amount, and how quickly you submit all required documents.
Yes, with a standard equipment loan, you fully own the equipment once you make the final payment.
An equipment loan allows you to own the asset outright after repayment. In contrast, an equipment lease provides temporary use of the equipment, often with an option to purchase it at the end of the lease term.
Disclosures
Competitive Rates70
Flexible Terms74
Fast Approval Decisions67
Close from anywhere with Simple Electronic Closing with Express Sign:68
Same Day Closings69