Banterra Machine Tool Finance makes getting an equipment loan easy. Simply click here and you can apply online or download an application to mail. You can also learn the easy steps of the Banterra Machine Tool Loan Process.
You can contact a Banterra Machine Tool Finance Lender at any time with questions and you will also be contacted after you have applied, generally within one business day.
Does it take very long for my application to be approved?
Your credit review is completed in one business day in most cases and you will be contacted by a Banterra Machine Tool Finance Lender.
Why should I use Banterra Machine Tool Finance?
Our Banterra Machine Tool Finance team has more than 100 years of experience and we are dedicated to helping our customers grow their business. You’ll receive unmatched personal service. Click here to learn more.
Is the rate locked in or does it float?Most of our customers enjoy our fixed-rate equipment loans. We also lock that rate in at the time of approval unlike most of our competitors. We do offer a prime-based floating rate, but most customers choose the fixed rate.Can I refinance equipment loans I already have with other banks?Yes, Banterra offers competitive terms for refinancing or consolidating your existing equipment loans.Do you finance used equipment?Yes, our Machine Tool Finance Division finances both new and used equipment.What is the difference between a loan and lease?With a True Lease (or Operating Lease) a customer is only renting the equipment and does not receive the tax benefits of equipment ownership. A Capital Lease normally receives a similar tax treatment to an actual loan. However, we feel that a straight Equipment Loan offers many advantages over a Capital Lease. Click here to learn more.Are there prepayment penalties?Most Banterra Machine Tool Loans are simple-interest notes with no prepayment penalties.Can I make extra principal payments?Yes, as our notes are simple-interest, a customer can make principal reduction payments at any time.What do you use as collateral?In most cases we only use the equipment that we are financing as collateral.Do you require a down payment?This depends on an individual customer’s credit profile and also the option breakout on the equipment we are looking to finance. In many cases, we do provide 100% financing for our customers.Will Banterra sell off my loan?It would be very rare for Banterra to sell off your loan. To date, Banterra Machine Tool Finance has never sold off a loan.Are there any restrictions to service area?Banterra Machine Tool Finance offers nationwide service, to all U.S. states with the exception of Alaska, Hawaii and New York. Banterra Machine Tool Finance does not offer international service.
