Fifth Third Equipment Finance Reviews - Financial Lender Pros & Cons


talia-stern writer
By Talia Stern
Updated January 15, 2021
Editor's Rating
Best Capital/Equipment Lender
Customer Rating 0 Reviews

Overview

Fifth Third Equipment Finance is ranked among the top 10 largest financial services companies in the country. Fifth Third — seems to be a bit odd for a name as it resulted in the merger of two financing companies, the Fifth National Bank and the Third National Bank, in 1908. Fifth Third Equipment Finance headquarters are located in Cincinnati, Ohio. For more than 160 years, Fifth Third Equipment Finance has served customers all over the state. Although Fifth Third Equipment Finance is a large bank, it has a rich legacy of never compromising on individual planning and consultation while working with the businesses it serves. There is a dedicated relationship manager who helps to create personal connections with customers to create value and trust.

Pros
  • Flexible lease and end of lease options
  • 100% reliable financing
  • Streamlined Credit and Paperwork Process 
  • Increased lending capacity through annual credit lines.
  • No collateral is required
Cons
  • High Monthly Maintenance Charges 
  • High-scale requirements to reserve monthly charges.
  • Businesses must have a 700+ credit score to get qualified
  • The interest rate starts at 5.99%

Services Offered

Fifth Third Equipment Finance is one of the largest asset lenders in the United States, Canada, and Europe. The team of experienced Fifth Third Equipment Finance professionals provides complete solutions to mid-market and large companies in a variety of industries such as manufacturing, construction, wholesale, distribution, retail, and service.

Asset-Based Solutions

Assets are a valuable resource of a business that can be used as collateral. Asset financing is a cost-effective solution that allows the business to maximize its borrowing ability and meet its liquidity needs. Fifth Third Equipment Finance uses a consultative approach that helps businesses to take advantage of the value of assets to make a better position in the market for future success.

Asset-based lending solutions can be used for:

Working capital

Merger and acquisition financing

Recapitalization

Refinancing/restructuring existing debt

Benefit of Employee Stock Ownership Plans (ESOP)

Turnaround financing

Commercial Equipment Finance:

Regardless of whether the business is utilizing an advance to make emergency installments, finance office extensions, paying for hardware costs, or obtain new resources, Fifth Third Equipment Finance can help a business get a commercial loan easily. The firm helps the business make the most out of every opportunity. Fifth Third Equipment Finance offers smart leasing solutions that are backed by personalized service. There are two main types of commercial finance solutions: Celtic and LaSalle.

Celtic Commercial Finance:

Celtic Commercial Finance is a subdivision of the Fifth Third Equipment Finance that is committed to creating flexible equipment leasing options for small and medium-sized companies in the U.S. for almost 30 years. While using the Celtic financing option, the customer gets consultation from an experienced leasing advisor, who helps the customer to focus on his specific needs and creates customized leasing and financing solutions. This financing service is supported by experienced management staff and experienced administrators of Fifth Third Equipment Finance.

LaSalle Solutions

LaSalle's solutions are developed to offer customers flexible and quality solutions that will simplify and optimize their technological operations, unleash capital, time, and provide resources to invest in the continuous growth and success of their business.

Fifth Third Equipment Finance discovers the best for each client, manufacturer, and business and also provides experts advice.

Small Business Loans and Lines of Credit:

Whether a customer wants to start a business, manage business growth, or even buy a business, he will most likely need financing in the form of a loan or line of credit.

For loans to small companies, an SBA loan from Fifth Third Equipment Finance can solve all of the business financing problems. SBA loans, their various types, and line of credit can provide enough finance for managing the workflow of a small business. Fifth Third Equipment Finance’s loan options have flexible interest rates, repayment options that give the customer advantage of low monthly payments.

From the range of SBA loans, the customer can select the loan that best fits his business requirement, from working capital to the financing of equipment or everything in between.

Industries it serves

Computers/servers

Telecommunications

Medical

Machine tools

Voice over IP

Construction

Graphic arts

Software/installation/training/cabling

Furniture, fixtures, and equipment

Industrial

Point-of-sale

Printing/publication

What makes Fifth Third Bank a reliable financing partner?

Technology and finance have been changing drastically over the last few, but the principles of Fifth Third Equipment Finance are still the same. The bank pays attention to each of its customer's requirements to help them evolve and grow alongside their competitors in the market. Fifth Third Equipment Finance has worked with thousands of customers over the past century. Fifth Third Equipment Finance constantly communicates with its customers and learns about their needs, how it can improve its business strategies, and more. This ensures the customers that they are provided with the best tools and most relevant financing solution available. The bank is committed to serving deeply woven services because it knows that success starts with the customers and employees. For the past 160 years, Fifth Third Equipment Finance has learned the secret to successful banking that is to maintain good customer relations. The firm focuses on its relationship with customers and has been making efforts to improve it as well. The Bank understands the complexities of the financial industry and identifies factors that affect customer’s business. This helps to improve the economic growth cycle of the business. 

The Bottom Line

Understanding the dynamics that affect an industry is a key component of Fifth Third Equipment Finance. and its professionals deliver services and financial solutions to propel a business. The firm has financial market experts who understand markets, how to raise capital, extend and improve operations, and structure funding.

Fifth Third Equipment Finance has a proven history of providing the best equipment loans and leases to businesses. Fifth Third’s financial services have flexible rates and help the business accomplish its accounting goals.

SEE IF YOU QUALIFY

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