Application Only to $90,000 Program
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
- 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)
