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New Equipment Purchase

Do you want to buy new equipment?

or 

Do you have assets that you want to utilize for cash?

 

If equipment is paid off we can loan about 50% of the value. If its property we can lend up to about 65% of its value.

 

Equipment Lending Information Requirements.

Equipment Purchases (Trucks, Machinery etc)

$20,000 - $100,000

1.     Credit Auth Form 

2.     Last 6 months business bank statements
(personal if a start up).

3.     Copy of quote for the equipment or Make, Model, year of item

4.     Personal Financial Statement

 

$100,000+

1.     Credit Auth Form 

2.      Personal Financial Statement for each owner

3.     Previous two years Tax Returns (business)

4.     Previous two years Tax Returns (personal for each owner)

5.   Previous Two years Financial Statements

6.     Copy of quote for the equipment or Make, Model, year of item

 

Contract Monetization.

Information Required:(after check list completed)

 1.     Contract Monetization Worksheet

 2.     Copy of the contract(s)

 3.     Delineation / use of funds. The more detail the better.

4.     Personal Financial Statement

 

Asset Base Lending (for working capital)

Information Required:

1.     Personal Financial Statement (see standard form)

2.     Delineation / use of funds. The more detail the better.

3.     List of equipment owned outright.

4.     Credit Auth Form

 

Securities as Collateral Loan.

1.     Information required: most recent portfolio statement (name and account number can be removed)

 

FAQ on the Loan Program

 1.     Is it a bank loan or Lease?

 They are bank loans not leases.  If equipment is paid off we can loan about 50% of the value. If its property we can lend up to about 65% of its value. 

2.     How long are the terms?

 The terms are from 12 months up to 7 years.

3.     What are the credit Requirements of the Customer?

The lenders are looking for 600 fico scores but depending on what is the loan to value on the collateral they will take lower scores.  They will look for compositing factors.   

4.     What are the interest Rates?

The rates are for 8% to 19%



Home
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FAQ
No Credit Check Consumer Finance
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Consumer Finance Solutions
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Hard Money
Leasing
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Contact Us
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