Business Equipment Financing Program

Get the equipment your business needs to succeed. With Quaint Oak Bank, our Business Equipment Financing Program ensures you can obtain the equipment that will help your business be more productive and profitable. Whether you need new or used equipment in PA, DE, NJ, NY or MD, we have a financing solution for you.

Program Highlights:

  • New or used vehicles such as vans, tractors, trailers or passenger vehicles
  • Equipment for food service, manufacturing, healthcare, landscaping or office use
  • Streamlined one-page application process and fast credit decisions
  • No application, annual, or pre-payment fees
  • A one-time documentation fee of $250
  • Loans from $5,000 to $300,000*
  • Up to 100% of the purchase price
  • Terms ranging from 1 to 5 years**

Collateral must be business critical/business essential

Higher Loan Amounts considered on a “case by case” basis*

Longer Terms may be applicable based on the useful life of the equipment**

Personal Credit (Business Owner)

  • 700 + FICO with home ownership
  • True revolving debt not to exceed $25,000 with no more than 40% of available credit outstanding
  • Credit history of 10+ years with no recent delinquency
  • Time at present address equivalent to 2+ years
  • No bankruptcies, unsatisfied tax liens, or open non-medical collection accounts
  • Current mortgage debt (homeowner) and installment debt (auto preferred)
  • No derogatory mortgage payment
  • Satisfactory internet search of personal guarantor’s name

Business Credit

  • Verification of address, ownership, and time in business
  • Federal employer identification number verification
  • UCC search required for verification of business activity
  • No bankruptcies, unsatisfied tax liens, judgments, or large past due accounts
  • Satisfactory D&B report with a minimum Paydex 65 or Satisfactory PayNet minimum 580
  • Comparable debt equal to 50%+ of loan request
  • Derogatory payments total less than 10% of total payment experiences
  • Evidence of similar payments being made within terms
  • No derogatory information in last 12 months
  • Monthly bank statement required (Minimum average monthly balance of 3 to 5 times the projected new loan payment)
  • No NSFs or overdrafts
  • No sale leaseback or private party sales
  • Site inspections may be required

(Excluded industries include franchises, kiosks, mortgage brokers, non-vocational trucks, retail, home health care, churches, and fitness centers.)