What happens after I apply?
- After you submit an application, our initial review process typically takes 3 business days.
- If we approve your application, a Wells Fargo Business Banker will contact you to inform you of your approval and loan terms.
- If your application is not approved, you will receive an explanation letter within 10 to15 business days.
Account Pricing Questions
What will my interest rate (APR) be?
Your interest rate will be a fixed rate. It will be determined each time you make a purchase based on several factors, including term length, credit history and equipment or vehicle purchase.
Account Usage Questions
How do I use my Equipment Express loan to make a purchase?
- When you are ready to make a purchase, call an Equipment Finance Specialist at 1-800-416-0056.
- When you buy your equipment or vehicle, and forward your invoice or purchase order to us by fax at 1-800-340-7468.
- Once we receive your invoice or purchase order, funding will take place within one business day in most instances.
What types of vehicles or equipment can I purchase with my loan?
You may purchase many types of business equipment and vehicles. Because it serves as collateral, the equipment or vehicles financed must have marketable value. Before you buy, contact an Equipment Finance Specialist at 1-800-416-0056 to be sure your equipment or vehicle purchase qualifies.
Can I make multiple purchases with a single loan?
- Yes, you can make multiple purchases with your Equipment Express loan. The minimum invoice amount is $5,000.
- You do not have to make your purchases all at once; you have one month from time of approval to draw funds on your available credit, so you can get pre-approved and shop for the best opportunity.
Account Maintenance Questions
Account Security/Fraud Questions