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FRAUD AWARENESS REMINDER

Chartway will NEVER contact you directly and ask for specific confidential information (login credentials, PIN, card number, etc.). Be aware of fraudulent text and phone scams and take extra precaution. If you are contacted unprompted, please call us at (800) 678-8765. We are here to help keep your accounts safe.

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:

Secure financing for one-time business equipment purchases

Using unencumbered equipment to acquire other essential tools

Flexible terms (from 12 to 84 months)

Borrowing up to 80% of the equipment's value for purchase or up to 70% for cash-out loans

Table data for Business Equipment Loan Rates
 Effective 05-29-2024
Standard Terms Rate - As Low As Alert Me
Fixed for 5 years 8.50%

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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