Manufacturing Equipment Loans for Texas Businesses: Apply Today

August 15, 2022

Is your manufacturing company ready to incorporate a new piece of equipment into your facility? Whether you need to replace an older piece of equipment or are looking to ramp up manufacturing activity, there are many different options to finance the acquisition of equipment that you need.

Today, we would like to highlight manufacturing equipment loans as a great option for your company. We work with many different companies along the Texas Gulf Coast to help them complete an equipment purchase through this type of loan product.

We believe that financing the purchase of manufacturing equipment can be a good idea for your company, as it will allow for increased production and improved profitability. You’ll also be able to keep more cash on hand to support operations.

Learn more about whether this commercial loan is the right fit for your company and how to get started on the application process.

Ready to apply for a business manufacturing equipment loan? Call us at 713-595-7400 to speak with a local loan officer.

Who Can Benefit From Commercial  Manufacturing Equipment Loans?

In our experience, the companies that can benefit from manufacturing financing include the following: 

• Machine shops
• Fabricators
• Industrial power generation companies
• Electrical, HVAC, and Plumbing contractors

We also work with other types of companies that have a dedicated manufacturing department that serves a specific purpose. For example, some oil and gas companies have an in-house manufacturing team that performs certain industrial processes to support production. These teams often need access to new equipment to manufacture the latest tools that can be used in the field.

Whether your company is a manufacturer or you have a team that performs manufacturing activity, we can evaluate your need for new equipment and help you determine whether a manufacturing equipment loan is the right fit.

Interested in a complimentary
consultation with one of our bankers?

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What Type of Machinery is Best Suited for a Commercial Equipment Loan?

Not all machinery is suitable for an equipment loan. Some pieces of equipment are best suited to either rent or purchase outright with cash on hand. We want to focus on heavy-duty equipment that likely should be acquired through financing.

Consider this sample of manufacturing equipment that we can help our customers purchase through a loan:

• CNC machines
• Lifts
• Rolling stock
• Farm implements
• X-ray machine
• Drill presses
• Lathes
• Brake presses

Are you looking to purchase a different piece of equipment that serves a specific purpose? Our knowledgeable lenders can review your planned purchase and let you know if it’s a good fit for financing.

Get Ready to Apply for a Business Manufacturing Equipment Loan

When you are ready to apply for financing, we will be available to serve your business needs. We offer rapid responses to commercial loan requests, we serve as a local lending authority, and we have seasoned lenders ready to help you on the path to obtaining capital for your purchase.

Consider these steps in the business loan application process that include but are not limited to:

1. Identify the need. What is the purpose of your intended purchase? This helps us understand what your goals are and how we can structure a potential loan to best serve your company.
2. Tell us about the equipment. We will ask for specific information about the equipment, including the price of the machine itself and the delivery costs from the seller. We provide financing on a machine-by-machine basis, so if you intend to purchase more than one piece of equipment, then we will want to know details about each unit.
3. Complete a commercial loan application. The commercial loan application will provide valuable information about your company and the individuals backing the potential loan. This will help us become familiar with your company, the nature of your business, and your industry.
4. Provide company financials. In addition to a completed commercial loan application, we ask that you provide us with financials that capture your company’s health. Included in our request will be a proforma that captures how the addition of this equipment will improve the financial performance of your company. For example, we will want to know whether the new equipment will replace existing equipment that has aged out of service or if it will be added to your facility as a completely new piece of equipment.
5. Complete the loan review process. Once our bank receives the requested information, we will determine whether to approve the loan. We make all of our lending decisions in-house, which helps accelerate the loan review process.

If your company is approved for the loan, then we will quickly provide you with access to funds to complete the equipment purchase.

Contact Texas Gulf Bank to Start the Application Process

Our expert bankers are ready to help you get started on the commercial loan application process. We are well-versed in the needs of manufacturing companies and other companies that require manufacturing equipment.

For more than 100 years, we have helped companies along the Texas Gulf Coast grow their business through our business loan products. Let’s talk about your goals with an equipment purchase so that we can help you gain access to the funds you need.
To get started, contact our team today, stop by one of our banking centers to speak with a lender, or call us at 800.467.7216. We look forward to discussing commercial manufacturing equipment loans with you.

All Loans Subject to Credit Approval