Investor Relations Locations Rates Contact Personal Business Connect About Log In Equipment Loans Rates Contact us Home Business Borrow Equipment Loans Pages within Borrow Equipment loans can help jump start your business. Finance new or used Equipment purchases at competitive rates for terms up to 10 years. Get the capital you need to purchase the equipment that's necessary to run or improve your Lower Hudson Valley, New York business. PCSB Bank makes the process easy with great equipment financing rates and flexible terms. Equipment Loan Advantages Competitive LTV Fast, local decisions Adds to your net value Preserves your cash flow Your new equipment can increase revenue Business Money Market Rate Special 0.30% APY* Learn More (opens in a new tab) Loan Comparison Calculator Financial Calculators from Dinkytown.net Financial Calculators ©1998-2021 KJE Computer Solutions, Inc. Definitions Loan amount The total dollar amount for this loan. Interest rate The interest rate on this loan. Loan term The number of years over which you will repay this loan. The most common terms are 15 years and 30 years. If this loan has a 'balloon' payment, the loan term will be shorter than the number of years to amortize the loan. For example, a loan with a 5-year term amortized over 30 years will have the same monthly payment as a 30-year loan with the same interest rate. The difference is the 30-year loan will have equal payments for 30 years. The 5-year loan will have equal payments for 5 years and then a very large, or balloon, payment for the remaining balance. Amortization The number of years used in calculating the monthly payment. Loans that are amortized over a longer period than their loan term have a balloon payment. See 'Loan term' for more information. Origination fee The dollar amount charged as a loan origination fee, which is included in the annual percentage rate (APR) calculation. For many loans a 1% origination fee is common. For example, a 1% fee on a $120,000 loan would cost $1,200. Commitment fee An upfront fee included in the APR calculation. Other fees Fees included in the APR calculation. These fees can vary by lender but, at a minimum, usually includes prepaid interest. Other costs Any other costs that should be included in the APR calculation. Closing costs Total of all closing costs for this loan. Balloon payment This is the total final payment for all loans that are amortized over a period of time longer than the loan term. The balloon payment is total interest and principal balance due at the end of the loan term. (If the loan term is the same as the amortization, this amount is always zero.) Annual percentage rate (APR) A standard calculation used by lenders. It is designed to help borrowers compare different loan options. For example, a loan with a lower stated interest rate may be a bad value if its fees are too high. Likewise, a loan with a higher stated rate and very low fees could be an exceptional value. APR calculations incorporate these fees into a single rate. You can then compare loans with different fees, rates or terms. CASH MANAGEMENT SERVICES Simplify your day-to-day business activities with wire transfers, merchant services and more. Learn More Call914-248-7272 EmailContact Us VisitLocations Reach Out Contact Us Locations Reorder Check PCSB Bank Corporate Headquarters 2651 Strang Blvd. Yorktown Heights, NY 10598 Routing Number: 221970980 Learn More Team News Community Careers Cash Management Investor Relations Go Digital Join in the conversation with PCSB’s social media channels: Facebook Twitter LinkedIn YouTube Online Banking Mobile Banking Take PCSB with you by downloading our mobile app: Privacy Statement Internet Security Website Accessibility Sitemap PCSB Bank is a full-service New York bank with locations throughout Westchester, Putnam, Dutchess and Rockland Counties. Explore checking accounts, savings accounts, auto loans, personal loans, mortgages, business bank accounts, business loans, cash management services and more. Bank online, with our mobile app, or visit one of our conveniently located branches in the Lower Hudson Valley. Copyright © 2021 PCSB Bank. All Rights Reserved. Site by ZAG Interactive Website - Opens in New Window