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Routing Number: 272479663 Swift Code: MSUCUS44
 
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Equipment Loans
We know sometimes getting the right equipment for your business may require additional capital. Our Equipment Loans help businesses get the equipment they need.

• Flexible rate options
• Fixed monthly payment and terms
• Term and Lines of Credit options

Apply for your Equipment Loan by clicking the Apply Now button to download our Business Loan Application.

Questions? Contact our Commercial Team directly by phone at 517-333-2424 ext. 2365.
Identify the need
for financing
If you need working capital or to purchase equipment, having a specific and well defined financing proposal will assist with the process.
Complete the
Application Process
Submitting an application, providing the necessary information to the Loan Officer is key to completing your application and getting a decision quickly. Provide financials and support documents timely.
Receive your Funds
Once approved - our team will provide you the funds you need to purchase the equipment or access the working capital you need.
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What documents are needed to apply for an MSUFCU Business Loan?
•Print and complete the Business Loan Application

Include the following supporting materials:

• Personal Financial Statement (PFS)
Complete a Personal Financial Statement form for each person owning 20% or more of the business along with anyone guaranteeing the loan. Both spouses must sign and date, if applicable.

• Owner Documentation
Signed personal Federal Tax Returns, with all schedules included, for the last three (3) years for all individuals who own 20% or more of the business.

• Company Documentation
Signed Corporate Federal Tax Returns, with all schedules included, for the past three (3) years for the applicant business (if applicable).

• Affiliate Documentation
Signed Federal Tax Returns, with all schedules included, for the last three (3) years for all affiliate business (if applicable). Current Balance Sheet and Income Statement for the affiliate.

An affiliate is a business concern in which the applicant company or any individual who has 20% ownership, controlling interest, or where an individual has control of the company and other concerns even though ownership is less than 20%.
You may be asked to provide additional documentation based on your loan request.


Drop off your completed application to any MSUFCU branch or mail your application and supporting documents to:

Business Lending
Michigan State University Federal Credit Union
3777 West Road
PO Box 1208
East Lansing, MI 48826-1208



Business Loans not available to out-of-state companies or for collateral not located in Michigan.
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What type of equipment do you finance?
We finance daily business driver vehicles, fleets, operating equipment, construction, medical, and many others. Some equipment will require down payments of 20% or more. Contact a lender today to determine if we can finance your next equipment purchase.
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What will my down payment be?
Down payments will depend on the type of loan, collateral (equipment/vehicle), and risk. If a down payment is required, these typically start at 20% down, and could be up to 40% down for special use or high risk collateral.
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Do you offer preapprovals on a Term Equipment Loan?
We can approve a loan up to a certain amount for the purchase of equipment or for working capital, and it may be contingent upon receipt and verification of additional information pre-funding. Underwriting is still required to provide approval.
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Can I apply online for a business loan?
Existing business members with an active account in good standing can apply online via ComputerLine. Login to your account, and select "Apply for a Loan" icon in the top menu.

Non-Members are invited to apply for a business account if they would like to apply for a loan online, however, providing a business account application and business loan application at once will allow a lender to begin that process sooner.

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Once a loan is approved, how long does it take to receive funds?
This varies depending on many conditions of the loan.
View All FAQs
A vehicle is considered a business vehicle if it belongs to a company or corporation, it is used for business purposes, or is titled in the business name. The vehicle must be found on the NADA website under New Car/Trucks, Used Car/Trucks or under Commercial Trucks. Some Commercial vehicles do not qualify. Some out of state businesses or collateral will not qualify, subject to Credit Union policies or Federal regulation.

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