Bank of America Equipment Financing - 2018-2019 StudyChaCha

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Old November 13th, 2017, 05:06 PM
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Default Bank of America Equipment Financing

What are features and fee for Equipment Financing / Loan of Bank of America? If you have any information about Equipment Financing / Loan, so tell me about this type of Loan from Bank of America?
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Old November 13th, 2017, 05:34 PM
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Default Re: Bank of America Equipment Financing

As you want to know about Equipment Financing / Loan offering by Bank of America, so I am giving complete information:

Equipment loan features, terms and fees
Available for amounts of $25,000 and up (no maximum) on a wide range of equipment types layer and commercial vehicles greater than 2.5 tons

Origination fee 0.5% of amount financed

Loan is secured by the equipment you're financing

Borrow up to 80% of the purchase price

Flexible terms up to 5 years

Competitive fixed rate that considers your overall business relationship with Bank of America

Is leasing equipment right for you:
Finance up to 100% of the purchase price plus up to 20% for soft costs such as taxes, freight and delivery

Get a competitive fixed rate and have funds disbursed directly to the equipment dealer

Finance $50,000 and up—and get a possible reduction of your taxable income.Footnote

True tax Lease
lease layer purchase

At end of lease You can renew the lease, return You own the equipment
the equipment or purchase the for $1
equipment at fair market value

Term 5 years 5 years

Fees Origination fee of 1.0% of Origination fee of 1.0% of
amount being financed amount being financed

$250 documentation fee (waived 250 documentation fee (
if client signs up for ACH payments) $waived if client signs up for
ACH payments)
No annual fee or additional No annual fee or
closing costs additional closing costs

Loan-to-value layer Up to 100% Up to 100%
Answered By StudyChaCha Member
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