Frequently Asked Questions

Generally, we will need the following items:
  1. A brief description of your business and its requirements/use for the asset or equipment
  2. Credit Application (will need your business start date, & Federal Employer ID Number, if applicable)
  3. Clear, unexpired copy of the signers Driver’s License
  4. Copy of a voided business check that matches the business name on the credit application
  5. If storing the equipment on rented property, a landlord waiver may be required
  6. If equipment is titled, a wet signed, notarized Power Of Attorney may be required, if Electronic Notaries are unavailable in your state
Three Months of Recent Business Checking account statements may be required if there is not enough business credit found when processing your application. If we are still having trouble at this stage, we will consult privately to find one of the many ways to move forward.
Link to Equipment Listed online or Sale Quote (Year, Make, Model, Hours, Condition, Price) Preferred Remittance Instructions Dealers License (If titled and you’re processing title) Any special instructions such as converting a rental, a conditional sale, etc. Any industry/equipment specific items that may apply, such as an annual certification, for example
Bill of Sale or Invoice Photos of Asset from all 4 corners & odometer reading(s) Condition report Proof of Ownership Drivers License If Titled, Front & Back copy of title, or letter from bank If Titled, Notarized Power of Attorney or E-notary if available
While technically is it possible for same day funding to occur, on average: Dealers/Vendors with Existing Relationship: same day or 1-2 business days Dealers/Vendors with No Relationship: 2-3 business days Private Party Sales: 5-7 business days All transactions are handled urgently, however If expedited service is required please let us know as soon as possible so we may accommodate your needs.
It won’t, unless there is a personal guarantee for the loan/lease and you default without communicating resolution.
After 18 - 24 (months) timely payments, you will have obtained “comparable borrowing history”. If you did not have comparable borrowing history prior to this transaction, then your next transaction should come more easily. If you don’t pay on time, your business credit may show how long it takes for bills to be paid.
No, a lease is a contractual agreement to pay for a fixed period. If you are looking to pay off your lease early, you will owe the remaining number of payments plus any applicable taxes or fees.
Yes, however the extent of savings varies greatly depending upon the loan structure. Please communicate your need for an “Early Buyout Addendum” if not stipulated in the loan contract.
Short answer is No. However the question being asked is misleading in context. Rephrased as, “Will you save a bunch of money by paying off the loan early?” See “Can I pay my loan off early”.
If the dealer or vendor has state income tax nexus, we prefer for the dealer or vendor to transfer the title. However our vendors and customers may be spread out across the country, lacking nexus, in this case, the lender will choose to title in order to perfect the security interest in the collateral.
Generally, 3-4 business days, sometimes longer depending on your local DMV processing time. Making sure we have the correct mailing address for your local DMV may expedite this process.
All monies are transferred directly to the dealer or seller listed on the bill of sale or sales order. This generally happens a couple hours after the contract is signed. For example, if contract documents are signed at 3PM EST – then likely the funding would take place the following day.
Our credit requirements are often curated with the dealers we partner with. Generally, w`e prefer at least 2 years in business or 3 years of industry experience, Experian FICO 9 scores above 625, with a clear business use case for the equipment or asset being financed or leased. Substantial deposits may negate a one time credit mishaps.
You may check the WSJ Prime Rate to inquire where rates are today. Your finance rates will be credit based and driven off your business credit and ability to repay.
Any equipment required to run your business. The equipment must make sense, and must have a clear and valid use case for your business.
Yes, freight, installation, accessories, components, software, training, etc. may all be included in the finance amount.
Minimum Transaction $20,000.00 up to $10,000,000.00.
In most cases, no. However please give us a call so we can discuss your unique situation.     For Applications, Documentation, and Funding, or General Questions: Email - or Call - 866-435-3274
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