Equipment:
Time in Business 2+ years:
-620+ credit score
-No leasebacks (can’t lease back equipment a customer already owns)
-Most types of equipment are acceptable
-Long Haul trucking : Need 2 units in fleet
Time in Business less than 2 years (start up):
-Loan amount up to $40,000
-Max term 48 months
-700+ Personal Credit Score
-0% down payment required
-No long haul trucksSales Leaseback Program:
-Time in Business 2 yrs
-Term 2 years – 6 years
-600+ minimum FICO
-Equipment purchased within 30-45 days paid via cash or credit card
-Loan amount up to $40,000
-Max term 48 months
-700+ Personal Credit Score
-0% down payment required
-No long haul trucksSales Leaseback Program:
-Time in Business 2 yrs
-Term 2 years – 6 years
-600+ minimum FICO
-Equipment purchased within 30-45 days paid via cash or credit card
Video
Example
Jon has been a small business owner for 3 years and it’s time for him to purchase a new tow truck. He financed the truck over a period of 48 months at 8% interest. Jon has been able to double the number of tows he can service, doubling his profit.