Equipment Finance

Equipment Finance

Qualifying Factor

Not Recommended

Terms: varies

PG / NO PG:

 

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

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.