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Business Advantage

Equipment Financing and Vehicle Loans & Leases

  • Hide Equipment financing
    Reduce your after-tax cost of capital, increase your cash flow and improve your balance sheet. Types of equipment financed
    Standard term loan for buying equipment. Minimum $25,000.
    Lease purchase to own the equipment at the end of the term for $1. True tax lease with options at the end of the term to purchase the equipment at fair market value, return the equipment or renew the lease. Minimum $25,000.
    Buy or lease equipment with a revolving line of credit that allows you to make multiple purchases over time. Minimum $50,000.
  • Show Vehicle financing
    Finance automobiles, vans, light trucks and commercial trucks and trailers—with competitive rates and flexible terms.
    Standard term loan for buying light and commercial vehicles such as automobiles, vans, trucks and trailers. Minimum $25,000.
    Lease purchase: Lease commercial-purpose vehicles and take ownership at the end of the term for $1. Minimum $25,000.

    TRAC lease: Lease commercial-purpose vehicles with the option to buy the vehicle at the end of the term at a predetermined price and no mileage restrictions. Minimum $25,000.
  • Show Agriculture equipment
    Purchase equipment with flexible repayment terms for customers with seasonal revenues. Loans starting at $25,000. Learn more about farm loans
    • Supported by a specialized agriculture lending team
    • Maximum term up to 7 years
    • Bank of America is a preferred lender of the Farm Service Agency (FSA) Guarantee Program
  • Show Medical and professional practice equipment
    Comprehensive financing for everything from installation to training and equipment costs. Quick credit decisions on loans up to $300,000. Learn about practice financing
    • Preserve working capital with 3- or 6-month deferred payment options
    • Tax returns or financial statements are not required for most equipment purchase situations
    • Flexible payment structures with terms up to 10 years to meet your needs
    • Up to $10,000 travel reimbursement for consulting
  • Equipment types

    We finance a wide variety of equipment, for example:

    • Light-industrial equipment such as packing machines and office equipment
    • Heavy-industrial equipment such as conveyor belts, printing presses and stationary machinery
    • Commercial vehicles (typically greater than 2.5 tons) such as heavy trucks and trailers

    This is by no means a comprehensive list. Request a callback to talk to us about the specific needs of your business.

    Lease purchase

    A leasing arrangement that allows you to assume ownership of the equipment or vehicle at the end of the term for $1.

    True tax lease

    The term “true tax lease” is an Internal Revenue Service classification that helps define the tax benefits to the lessor (the owner of the equipment) and the lessee (the individual or business leasing the equipment). The lessor receives any owner-related tax benefits such as depreciation or tax credits. The lessee benefits, too, by being able to claim lease payments as an operating expense which, in turn, lowers taxable income.

    TRAC lease

    A TRAC (Terminal Rental Adjustment Clause) lease is designed specifically for financing heavy-duty vehicles such as trucks, tractors and trailers. The lease allows you to buy the vehicle at the end of the lease term for a predetermined value, commonly known as the TRAC amount. If you choose not to buy the vehicle, we will sell it. If the sale price is more than the TRAC amount, we pay you the difference; if the sale price is less than the TRAC amount, you pay us the difference.

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SBA loans

  • We're here to help you get the best financing for your business. That's why we'll consider your eligibility for financing backed by the Small Business Administration (SBA) when you apply.
  • Is SBA financing right for me?