Get fast funding

When new equipment is crucial to your business, you need an efficient financing process. That's what you can get when you finance with First Citizens Bank Equipment Finance—with an online application process that takes about 3 minutes and returns initial credit decisions often in as few as 60 seconds.

Say no to the hassle

Getting a loan can be complicated because there are often several restrictions. With financing through First Citizens Bank Equipment Finance, you can rest assured that the process will be simple.

Take advantage of competitive rates and products

Competitive rates and customized terms to fit your specific needs make financing a cost-effective solution.

Select the best term length for your businessD

As a business owner, the key driver for acquiring new equipment should be to help increase your overall top-line revenue. A cash flow evaluation can help you select your term and monthly payment. A good rule of thumb is to choose a payment at a term that's approximately 25% of expected incremental monthly revenue—which should allow you to generate enough overall cash flow to have the new equipment pay for itself profitably.

Access credit at a glance

While no credit decision can be rendered until we review your application, we generally require a minimum 640 FICO Score for business principals or guarantors and at least 2 years in business.

Potentially reap some serious tax benefitsD

If you choose either an equipment finance agreement or a lease with a $1 residual, you may be able to take advantage of Section 179 to accelerate your depreciation expense in a single year. If you choose a lease with a fair market value residual, financed equipment can be deducted as an operating expense in the period in which it's paid, reducing the overall cost. Payments are also treated as expenses on the income sheet, so there's no need to worry about depreciation.