| Conventional financing and leasing is still available for | | | | 3. Minimum Equifax business credit score of 480 and |
| credit scores higher than 680 for construction | | | | minimum D & B Paydex score of 65. |
| equipment, trucking, medical equipment, agriculture | | | | 4. Corporation-only transactions considered for publicly |
| equipment and franchises. There are application only | | | | traded companies only; however established |
| programs up to $75,000 with full documentation | | | | companies may be considered with good financial |
| packages up to $250,000. This lender is very disciplined | | | | statements and business credit scores. |
| in its lending requirements and will qualify only applicants | | | | 5. All individuals with at least 10% ownership are |
| that meet their standards. | | | | required to personally guarantee. |
| This lender requires that a business must be | | | | 6. A signed credit release is required in order to pull |
| established for at least three years. Additionally, this | | | | credit. |
| lender will consider irregular payment structures on a | | | | Asset Guidelines |
| case by case basis. | | | | 1. Trucks and trailers ( model year 2001 and newer ) |
| Additionally, this lender has some repo and off lease | | | | 2. Construction Equipment- includes cranes, wheel |
| equipment available to applicants that don’t qualify | | | | loaders, crawlers, dozers, backhoes, skid steer loaders, |
| for their normal lending practices. These off lease and | | | | excavators, etc. |
| repos will offered out with less stringent credit and | | | | 3. Agricultural Equipment |
| lending requirements. | | | | 4. Vocational Equipment |
| Check out the program structure, credit and asset | | | | 5. Limos ( 48 month term max. ) |
| guidelines and the asset and industry restrictions as | | | | 6. Furniture |
| well below. If you have any questions, give us a call | | | | 7. Tow Trucks |
| Happy hunting for your conventional financing for | | | | 8. Doctors Equipment ( must be licensed physicians ) |
| construction equipment, trucking, medical equipment, | | | | 9. Forklifts |
| agriculture equipment and franchises. | | | | 10. Landscape Equipment ( zero turn mowers ) |
| Program Structure | | | | 11. Franchises |
| 1. Application-only transactions from $5,000 to $75,000 | | | | 12. Restaurant Equipment (serialized ) |
| 2. Transactions from $75,000 to $250,000 require a full | | | | Assets and Industry Restrictions |
| financial package:a. Two years’ tax returns or | | | | 1. Generally, only “hard” assets will be considered |
| business financial statementsb. Interim financial | | | | 2. No real estate or items permanently attached to real |
| statementsc. Personal financial statements for all | | | | estate |
| ownersd. Two years’ personal tax returns for all | | | | 3. Restaurant equipment for established franchises |
| owners | | | | only |
| 3. Discounting available for approved lessors and with | | | | 4. No airplanes and boats |
| approved documents | | | | 5. No Computers and software |
| 4. Terms 12 to 60 months | | | | 6. No direct to garment printers |
| 5. Approvals are good for 20 days. Approvals may be | | | | 7. No televisions and select audio/visual equipment |
| extended upon request. | | | | 8. No hotel FF & E |
| 6. Irregular payment structures (semi-annual, deferred, | | | | 9. No exercise equipment |
| seasonal, balloon payments) are considered and will | | | | 10. No medical equipment to non-licensed physicians |
| require up front credit approval | | | | 11. No residential contractors or construction companies. |
| 7. Sale/leasebacks are will not be considered | | | | Commercial and utility contractors are OK. |
| Credit Guidelines | | | | 12. No real estate development companies |
| 1. Minimum personal guarantor credit score of 680. | | | | 13. No timber or logging |
| 2. Minimum time in business of 3 years | | | | 14. |