Use Industrial Loans to Acquire New or Used Machinery

May 17, 2024

Starting and running a successful industrial business takes more than a great idea or fantastic service. It also requires the right kind of machinery to get the job done day after day for your customers across Texas and throughout the United States.

Buying new or used machinery is an important investment for your business, but you need a reliable way to pay for equipment without draining cash reserves.

Learn how commercial and industrial loans (also known as C&I loans) can provide your business with the ability to acquire the machinery or equipment needed for long-term success. Also, discover the difference it makes to have an experienced, strategic lending partner like Texas Gulf Bank on your side.

The Basics of Commercial & Industrial Loans

When your business needs access to reliable funding without a lengthy loan term, C&I loans may be an optimal financing option. These loans are short-term lending solutions that can be either in the form of a lump sum loan or a revolving line of credit for business needs.

Commercial and industrial loans are a popular option for industrial business owners because the funds may be used for a wide range of business expenses and investments. C&I loans may be used for:

Acquiring new or used machinery
Preserving working capital
Renovating facilities
Recruiting and hiring staff
Buying business fixtures and office supplies
Setting up production lines

Note: since C&I loans are a short-term lending solution, they’re not intended for commercial real estate purchases or other long-term business needs.

C&I Loans Offer a Range of Benefits

When your business chooses a C&I loan for financing needs, you may realize a wealth of key benefits that support business growth, particularly when looking to invest in machinery or equipment.

C&I loans could provide your business the financial resources needed to secure machinery or equipment without burning through business savings or negatively impacting working capital needs.

With a C&I loan, your business may be able to tap into a wider range of purchasing options to invest in valuable new or used equipment that could help you serve more customers, grow your business, and stand out in the market. C&I loans are an ideal lending solution for companies in industries such as:

Construction
Manufacturing
Transportation
Industrial
Fabrication
Oil & Gas
Healthcare

Pursuing a C&I loan to cover equipment or machine costs may allow business owners to potentially avoid the costly, lengthy process of securing funding from other sources, such as business equity investors.

By applying for a C&I loan instead of sacrificing company equity, business owners can retain full ownership and decision-making abilities, keeping the business more flexible and better able to adapt to changes.

Texas Gulf Bank: Offering A Better Lending Experience

Texas Gulf Bank has proudly served businesses along the Southeast Texas Gulf Coast for over 110 years, providing strategic and reliable banking services and loan solutions, including C&I loans. Our extensive regional expertise and exceptional customer service make us an ideal lending partner for your business financing needs.

As part of our commitment to provide exceptional financing services, we offer a streamlined loan application process from beginning to end. The C&I loan process with Texas Gulf Bank begins with an initial assessment to discuss your loan needs, the intended use of the loan, equipment information, and your company’s financial state.

To expedite the loan process, loan applicants will be required to submit financial documentation including but not limited to:

Completed loan application
3 years of most recent business income statements and tax returns
3 years of most recent personal income statements and tax returns
Expected use of loan funds (equipment purchases, working capital, etc.)
Income and cash flow projections
Collateral or down payment information
List of outstanding business debts

Once all required documentation is submitted, our in-house loan team will review the request and submit it for final approval. As a local bank, we offer an efficient loan review process that may lead to a prompt decision and funding if approved.

Contact Texas Gulf Bank for A Streamlined Loan Process

If your business is ready to secure the funding needed for machinery or working capital needs with a C&I loan, Texas Gulf Bank is eager to help. With our in-depth regional insight, exceptional loan options, and outstanding customer service, your business can experience a smooth loan process.

To speak with one of our local lenders about Commercial & Industrial loans, we invite you to contact Texas Gulf Bank today. You can schedule an appointment with one of our loan officers at 1-800-467-7216, through our contact form, or by visiting one of our conveniently located banking centers across the region.

Let’s get you started on the path toward acquiring new or used machinery with confidence.

All loans subject to credit approval