App Only Info & Recently Approved and Funded
Typical Credit Package
- Copy of applicant signed detailed credit application containing SS#, Fed ID#, Home Ownership & etc.
- Copy of credit bureau report
- D & B report when available
- PayNet report if available
- Last 3 months of business bank statements
- Trade reference verifications.
- Complete equipment description (copy of dealer quote, buyer’s order or bill of sale to include the model number(s), options, cost, taxes, maintenance, software, install and any other pertinent information)
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General Guidelines
- “Hard Asset” Equipment preferred
- Personal guarantee of principals
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Time in business
- Five years in business minimum for hard assets
- Seven years in business on high tech equipment
- Beacon/FICA score of 700 or higher (725 or higher on high tech equipment)
- Paydex score of 70 or higher
- Acceptable PayNet report per industry
- 24-60 month terms (36 months on high tech max)
- Detailed bank and trade reference verification
- No Fleet Rental Financing, Floor Plan Financing, or Inventory Financing
- No OTR Transportation
- Vocational Trucks acceptable (Cement, Logging, Electrical, Garbage, etc)
- No Corporate only transactions (must have personal guarantees)
Recently Approved or Funded Equipment
Coach and Tour Buses: $150,000-We recently funded several used coach and tour buses. There is no requirement for the number of buses currently running. The customer must have 5-years time in business to qualify.
Hydraulic Scaffolding: $45,000-We recently funded hydraulic scaffolding with mast climber, power deck and components. The equipment is used for the construction of building and skyscraper masonry.
1979 Kenworth Watertruck: We are able to fund your older titled equipment and vehicles. Please let us know if we can help you fund your next older or newer titled equipment.
Non-Profit Corporations: $280,000-Recently approved for a non-profit corporation working in low income housing that required 14 replacement copiers at its five different locations. 60 month term with one advance payment.
Farming Equipment: $150,000-Recently approved a specialized self-propelled strawberry harvesting machine for an 8 year-old company that farms and sells prepackaged salad mixes.
Churches: $250,000-We recently funded audio visual equipment for a Baptist church’s new sanctuary at a second location. Equipment included lighting, cabling, and other soft collateral.
Laser Spa Equipment: $48,000-Recently approved for a sole-proprietor, not owned by a doctor or medical professional, laser spa equipment used for hair removal.
Allergy Relief Laser System: $41,000-We recently approved an allergy relief system for a chiropractor’s office with 4 years’ time in business.
Restaurant P.O.S. System: $100,000-We recently approved P.O.S. systems for a 38 store pizza chain. The first restaurant opened 30 years ago. 70% of the equipment cost was training and soft costs. The other 30% was for software.
Corp Only Guaranty; Batch Furnace System: $285,000-Financing approved for the residual amount due on an expiring lease for a batch furnace system for a commercial heating plant. The original equipment cost was $1.1 Million.
Walk-in Commercial Coolers: $150,000-Recently approved a walk-in cooler, cookie room, blast freezer and dry mix room for a large commercial baked goods manufacturer.
Wireless Modems: $54,000-$50 wireless modems to be placed at a wireless provider’s customer’s multiple locations, recently approved.
Private Party Sale: $47,000-Recently approved a 13 year old wheel loader for a scrap metal processing facility.
