loans for
Working Capital
Buying A Business
Refinancing Debt
Equipment
Buildings /
Construction
Women & Minorities
Microloans
Empire Zone
Businesses
Veterans
types of loans
SBA 504
SBA 7(a)
USDA
Conventional, Non-Guaranteed Loan
tools
Payment Estimator
Forms
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Loans for Equipment and Machinery
NYBDC has financed a variety
of different types of equipment for borrowers ranging from desks,
chairs and computers, to industrial handling and manufacturer’s
equipment, vehicles, construction equipment, printing presses,
airplanes, barges, trains and more.
Typically,
NYBDC matches the repayment term of the loan with the useful life
of the equipment being purchased, ranging from three to 10 years.
NYBDC does not provide leases, however, and they should always
be considered and compared to our more conventional financing structure.
Down payment requirements also vary. Typically, NYBDC looks for
20%-25% cash injection from the borrower. If other collateral is
available, we can consider a smaller down payment. Equipment that
is subject to obsolescence or is special use may require a larger
down payment. NYBDC’s loan limits range from $50,000 to $1,500,000.
We are a complement to bank financing and do not compete with our
partner banks. Many loan structures include NYBDC, Bank and other
subordinate lenders which can bring the total financing to exceed
$5 million.
For equipment that has a useful life of greater than
10 years, such as a printing press, NYBDC can utilize the SBA 504
loan program. This program allows for up to 10 years’ repayment
with a fixed interest rate and as little as a 10% down payment.
It is only available for the acquisition of equipment, not for
refinancing of equipment.
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