People's United Equipment Banking Reviews - Financial Lender Pros & Cons

sarah-klein writer
By Sarah Klein
Updated March 5, 2021
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Top-Rated Construction & Transportation Lender
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The People's United Equipment Banking is a subdivision of People's United Financial, a diversified financial services provider with assets worth more than 60 billion. People's United Equipment Banking was founded in 1842 and is a prime, community-based, Northeast Bank Regional with over 5,500 employees providing banking services to businesses and individuals, and wealth management services. People's United Equipment Banking has more than 400 retail locations in different states of the United States and also includes more than 148 convenient Stop & Shop branch locations in Connecticut and New York that offer full banking service.

Whether the service is needed for personal or business use, for People's United Equipment Banking customers and their priorities matter. People's United Equipment Banking values building strong customer relationships that do not end with a one-time transaction. A strong customer relationship involves the service of listening, learning, and solving problems by working with the customer. People's United Equipment Banking has made the customers their priority and shows respect to its customers to gain their ongoing trust.

  • Revolving Line of Credit
  • New and used equipment financing
  • Sale lease-backs
  • Only deal with A profile businesses
  • Serves limited industries
  • No online application process
  • Limited information is available online

Services Offered

People's United Equipment Banking provides the following financial services:

Business Loans

People's United Equipment Banking business loans have the flexibility to meet the requirements of immediate and long-term business growth goals. 

The firm provides the funding a business needs to grow quickly and easily. The business also has local access to a long-term competitive financing option. People's United Equipment Banking serves eligible borrowers with total lending requirements of up to $1.5M for immediate and long-term business objectives. The bank provides tailored financing solutions to its customers and comes up with the best payment plan for every business. Business loans by People's United Equipment Banking give the customer the choice of a fixed rate or flexible payment structure that can be paid in 10 years.

Lines of Credit

People's United Equipment Banking offers a comprehensive range of banking and financial solutions, and also provides customers with expert advice. People's United business financing solutions are adapted to the current and future needs of your business. The bank offers a flexible and structured payment solution for a line of credit customers

Lines of credit provide working capital to customers that can be used to cut down business expenses and can be repaid over a period. The services by the bank address short-term cash requirements to support regular fluctuations in operations or the growth period of an operational cycle.

Small Business Administration (SBA) Loans

People's United Equipment Banking provides the service of Government guaranteed loans for small businesses. These financing solutions are structured loans and work more than just conventional loans.

If a business wants to apply for a loan with a low rate of down payment and long term then a conventional loan will be the best choice available. People's United Equipment Banking is experienced and preferred SBA Lender, that is designed to serve small business needs.

Term loans

Commercial term loans provide an immediate source of capital to the business which can generally be used for various purposes, such as capital investments either in form of machinery or equipment, the acquisition of immovable or other enterprises, or the continuous injection of working capital.

People's United Equipment Banking will tailor the financial solutions and come up with the best payment plan for the business, which allows the business to make fixed or flexible payments for up to 10 years.

Revolving Line of Credit

This financing service gives businesses access to working capital that can be used to serve business expenses and can be paid back over a fixed period. 

Equipment loans and leases

Equipment loans by People's United Equipment Banking are individualized financing for the customer when they need new or used equipment. These loans and leases can be used to finance the equipment to build the business strength.

People's United Equipment Banking has financing solutions to meet every business-specific need, whether you are a manufacturer, retailer, or company using or requiring equipment. People's United Equipment Banking has Industry-specific equipment finance experts who help customers find the best financing option with flexible financing and payment solutions. The customer can finance or lease the equipment for construction, transportation, and waste that is needed to grow the business.

Industries it serves

People's United Equipment Banking is a national lender that provides the business with capital for the purchase, acquisition, or growth. The bank provides multiple financing and equipment rental services in the country through its six operating centers. 

Terms and conditions

People's United Equipment Banking has not provided any information regarding its financial services. Information regarding financial services can be obtained by visiting the bank’s branch.

Is People’s United Equipment Banking is a reliable financing partner?

People's United Equipment Banking's relationships with its customers have been for more than a century. They understand the financial needs of every business and have decision-making authority at the local level. The company focuses on the financial well-being of its customers and provides a tailored solution to help each client achieve his or her financial and personal goals and expand the business.

The bank has a belief that two customers can never have the same requirement and therefore pays attention to every detail of the problem. People's United Equipment Banking is a full-service bank that considers the financial health of its clients from a holistic, non-transactional perspective.

The final verdict

At People's United Equipment Banking, customers are provided with a range of financing options. The firm values their customers and have a standard to lead their business. Customers can get benefit from the expertise of more than 175 years of service, associated with the collective strength of flexible financing services that are expected from a large regional bank. The bank offers multiple financing options that can fit any business requirement.


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