Posts Tagged ‘Financing’
Start Up Equipment and Truck Business Loans, Capital, Financing, Leasing with Credit Problems, Up To $100,000
Start up equipment and truck business loans, capital, financing, leasing with credit problems are still available in these economic times.
This article is going to discuss what is equipment and truck loans, leasing/financing, what are its benefits, leasing plans and how it relates to the start up business.
Additionally, we will show you lending requirements below for start up loans
Leasing is a form of renting but with a buyout clause at the end of the lease to take title to whatever we are leasing. The requirements to get into the lease may be as low as first and last payment and as much as 25%. Each situation is different and this offers the start up and seasoned business a way to invest very little monies into the business. Additionally, all other monies can be used for operating expenses such as marketing and other key areas. Leasing is not a new form of financing but could be a lending solution to the start up business.
The small sample of type of start up industries that leasing, business loans and financing can be used for are the following:
Dump, garbage, tow, flatbed, water trucks, over the road trucks and day cabs, heavy and construction equipment such as bulldozers, tractors, excavators, skid steer loaders, backhoes, flatbed, drop deck, refrigerated, dry van trailers, and industries which include limousines, limousine and shuttle buses, and machinery and production equipment.
The benefits of leasing may result in off-balance sheet financing reporting, tax incentives and conserving cash flow and preserving lines of credit for working capital purposes. Many leasing requirements may only require the initial outlay of first and last rental payment. Most leases finance 100% of the cost of the equipment such as soft costs which include shipping, software, training and installation. Additionally, leasing lets you regularly upgrade your equipment, eliminating your utilization of old, outdated equipment and reducing repair options.
Some of the leasing plans available to the lessee are $1.00, 10% or 20% purchase options as well as Trac Leases and FMV lease buyouts. Additionally, some lenders offer seasonal payments, deferred payments for ninety days, declining payments and half payments for a specified time period. It is important that the lessee understands all these different lease plans available as well as the buyout clauses. The lessee has many options to consider in negotiating his lease. He must understand each lender’s requirements and see if it fits within the realm of the lessee’s requirements.
Some lenders will accept the start up business whereas others will not want to lend to this group. They consider that their risk capital can be invested in other types of portfolios that can be better served. Many lenders require full documentation which includes a couple of years of personal income tax returns, a personal financial statement, and other underwriters requirements. However, in the past couple of years, there is a select group of lenders out there require an application only program. These lenders have their own computer scoring model and eliminate the necessary additional paperwork of other lenders.
These application only programs are usually restricted to the seasoned business, however there are a few out in the industry which will work with the start up business as well. The amounts of the application only program run as high as $150,000 for the seasoned business and $10,000 for the start up. Additionally, the lender will lease the qualified asset probably from 36-60 months and many won’t finance any equipment and commercial vehicles over ten years old.
It is important to understand the lease terms, the rate factor the lender is charging and the buyout clauses in the lease to take title. If you anticipate paying off the lease early, you should consult your lender to ascertain there is no prepayments for a early payoff. The last thing to understand that the lessee is going to guarantee the lease.
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1) Recap of Start Up Business Loan, Financing Programs Up to $40,000**********Conventional Financing, Bad Credit
0-2 Years Time In Business, Story Book Lender, Credit is Run but isn’t Credit Driven, High Cash balances help a lot for approval
For New Business Start-Ups: (terms 12-30 months) Up To $40,000
1. Completed Credit Application
2. Personal Credit Report from all Principals
3. Last Years Personal Tax Return
4. Evidence of an Alternate Source of Income*********
5. Personal Financial Statement on All Owners
6. Evidence of a Business Bank Account (this may not be open yet)
If a Business has been open for a few months, please retrieve bank statements
Lease Terms are Up To 36 Months…………10% Buyout Clause
2 ) Second Start up Lending Program.
If you have good credit for other start up financing, minimum credit score 650 or higher, the down payment for conventional financing may be any from 10 to 30% down. Industries include owner operators for semi, day cabs and dump trucks. Other industries such manufacturing, construction, medical, transportation may also be eligible. Paperwork requirements are basically the same as above….
3) If you don’t qualify for the start up programs above, we have many off lease and repo financing programs that start as low as 550 for minimum credit scores, financing up to $100,000, Down payments as low as $1,000
Happy hunting for your acquisition and its start up financing programs
Rick has over thiry years in the financial field, including
Semi Trucks, Big Rig Trucks, Over the Road Trucks, Work Trucks Financing Updates
There are many semi trucks, big rigs, over the road trucks, tractor semi, work trucks, new and used, financing program updates for the New Year. These financing programs are offered to the start up and seasoned business without good credit and/or a lot of front money for a down payment. Additionally, the paperwork requirements for these available programs are minimized as well..
PROGRAM DETAILS……START UPS WELCOME
1) We have lending programs for semi trucks, big rigs, etc without a credit check. This is a great opportunity for the start up and seasoned business with a down payment and can’t qualify because of bad credit…..You must select a semi truck out of the lender’s inventory.
2) We have a semi truck lending program that requires a minimum credit score of 550. This lender has an inventory that has semi trucks 2004 or newer with great financing terms. Additionally the minimum down payment starts at $4000 and accepts start ups. Full paperwork documentation isn’t required…
3) We have another lending program which includes over 500 trucks, construction equipment and trailers that require a minimum credit score of 550. The down payment required is somewhere between $1000-5000 down. The trucks, equipment, and commercial trailers are anywhere from 1998 to 2008.. Once again you must select an item out of the dealers inventory.
4) If you have a credit score of 600 and higher, there are conventional financing programs available for all types of trucks, including dump trucks big rigs, work trucks, construction equipment, commercial trailers. Etc. The down payment requirements can run anywhere from 10-30%. Start Ups should have a credit score of 650 or higher.. In conclusion, you can find the acquisition and bring it us and we will assist in the financing process.
5) We also have financing available for poor credit for hard assets. This financing doesn’t focus on the credit score but the underlying additional credit you are offering…. Free and Clear Assists such as dump trucks, bulldozers, excavators etc would be examples of qualified assets that could be used as additional collateral..
Check out our web pages below, Many of our dealers have repos for sale
There are over 1000 items available for sale to the start up and seasoned business to either expand a business or start one up. These economic times have given businesses a unique opportunity to acquire trucks, commercial trailers and construction equipment at special pricing and financing.
The following is a list of trucks, trailers and construction equipment available:
Tractor Trailers, Semi Trucks, dump trucks, day cabs, expeditor trucks, hot shot trucks, grapple trucks, delivery trucks and vans, cargo vans, car carriers, all types of medium duty trucks, asphalt and paving equipment, forestry equipment, excavators, skip loaders, skid steer loaders, off highway trucks, used semi truck and sleeper truck, big trucks etc
Happy hunting for your work truck, construction equipment and commercial trailer and its related financing
CHECK OUT OVER 1000+ TRUCKS, TRAILERS AND CONSTRUCTION EQUIPMENT BELOW
Rick has over thiry years in the financial field, including leasing, working capital and hard asset money loans, and commercial lending.
U.S Corporate Capital Leasing assists the start up and seasoned business for financing in all different industries.
http;//www.cclgequipmentleasing.com/semi_trucks.htm
http://www.cclgequipmentleasing.com/work_trucks.htm
Conventional Financing And Leasing For Construction Equipment, Trucking, Medical Equipment, Agriculture Equipment, And Franchises, Minimal Credit 680
Conventional financing and leasing, for new and used equipment, is still available for credit scores higher than 680 for construction equipment, trucking, medical equipment, agriculture equipment and franchises. There are application only programs up to $75,000 with full documentation packages up to $250,000. This lender is very disciplined in its lending requirements and will qualify only applicants that meet their standards.
This lender requires that a business must be established for at least three years. Additionally, this lender will consider irregular payment structures on a case by case basis.
Additionally, this lender has some repo and off lease equipment available to applicants that don’t qualify for their normal lending practices. These off lease and repos will offered out with less stringent credit and lending requirements.
Check out the program structure, credit and asset guidelines and the asset and industry restrictions as well below. There are many financing and leasing programs below a credit score of 680.These are great financing programs as well..
Happy hunting for your conventional financing for construction equipment, trucking, medical equipment, agriculture equipment and franchises.
Program Structure
Application-only transactions from $5,000 to $75,000
Transactions from $75,000 to $250,000 require a full financial package: Two years’ tax returns or business financial statements
Interim financial statements
Personal financial statements for all owners
Two years’ personal tax returns for all owners
Discounting available for approved lessors and with approved documents
Terms 12 to 60 months
Approvals are good for 20 days. Approvals may be extended upon request.
Irregular payment structures (semi-annual, deferred, seasonal, balloon payments) are considered and will require up front credit approval
Sale/leasebacks are will not be considered
Credit Guidelines
Minimum personal guarantor credit score of 680.
Minimum time in business of 3 years
Minimum Equifax business credit score of 480 and minimum D & B Paydex score of 65.
Corporation-only transactions considered for publicly traded companies only; however established companies may be considered with good financial statements and business credit scores.
All individuals with at least 10% ownership are required to personally guarantee.
A signed credit release is required in order to pull credit.
Asset Guidelines
Trucks and trailers ( model year 2001 and newer )
Construction Equipment- includes cranes, wheel loaders, crawlers, dozers, backhoes, skid steer loaders, excavators, etc.
Agricultural Equipment
Vocational Equipment
Limos ( 48 month term max. )
Furniture
Tow Trucks
Doctors Equipment ( must be licensed physicians )
Forklifts
10. Landscape Equipment ( zero turn mowers )
11. Franchises
12. Restaurant Equipment (serialized )
Assets and Industry Restrictions
Generally, only “hard” assets will be considered
No real estate or items permanently attached to real estate
Restaurant equipment for established franchises only
No airplanes and boats
No Computers and software
No direct to garment printers
No televisions and select audio/visual equipment
No hotel FF & E
No exercise equipment
10. No medical equipment to non-licensed physicians
11. No residential contractors or construction companies. Commercial and utility contractors are OK.
12. No real estate development companies
13. No timber or logging
14. No long haul trucking companies
Rick has over thiry years in the financial field, including leasing, working capital and hard asset money loans, and commercial lending.
U.S Corporate Capital Leasing assists the start up and seasoned business for financing in all different industries….
http://www.cclgequipmentleasing.com/lease_construction.htm
http://www.cclgequipmentleasing.com/truckfinancing.htm
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Tags: Agriculture, agriculture equipment, B Paydex, business, Construction, Conventional, Credit, E No, Equipment, Financing, Franchises, Leasing, Medical, Minimal, personal financial statements, personal tax returns, Rick, Trucking, U.S Corporate | 
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Financing for all your needs – Equipment finance, commercial finance & more
In the great global meltdown we are living through today, any term related to finance and commerce does not sound very nice to the ears. After all, the most common words we listened to (and are still listening to) for a long time were crisis, depression, downturn, recession and bankruptcy. Still, the fact remains that financing is essential if you are looking to buy something for which you cannot pay outright or want to start your own business or a host of other situations. What is necessary is to make sure that the risks linked to the borrowing (and there are always risks) are worth taking.
Equipment Finance Broking Firm
Established in 1990, Melbourne Finance Broking is regarded as one of the most progressive equipment finance broking firms in Australia. With over 40 staff around the country and realising enormous finance volumes (commanding significant buying power), the broking house deals with over 30 of Australia’s banks and lending institutions, including some with exclusive agency.
Each broker or broking team within Melbourne Finance runs their own business specialty. The corporate entity, Heavy Equipment Finance Australia (HEFA), was introduced by one of the teams in 2005 to more accurately signify their heavy equipment financing specialty, as well as better reflect their interstate expansion.
The HEFA team is unsurpassed in its experience and dedication to servicing the industries utilising heavy machinery, including earthmoving, construction, road making, mining, demolition, forestry and agriculture. When they say heavy machinery, they mean any kind of heavy machinery. They finance equipment that is:
New Used Dealer and Private Sale Machinery Import
Whether you are a sole operator or a large company, they are able to assist you. They finance a range of vehicles and equipment, including (but not limited to) the following:
HEAVY MACHINERY, such as excavators, dozers, wheel loaders, cranes, skid steer loaders, crushers, graders, rollers, backhoes, scrapers, logging and harvesting equipment, mining and drilling equipment, concrete pumping equipment and agricultural equipment. VEHICLES, such as cars, vans, trucks, low loaders, road trains, buses and coaches. ATTACHMENTS/PARTS, such as trailers, hydraulic hammers, GPS systems and pipe cameras.
If you want more information on HEFA and would like to check out their range of products and deals, you can visit them at http://www.hefa.com.au .
Paul Jennings works with one of the largest firms dealing in finance for heavy machineries in Australia. In his free time, he also writes informative articles about this specialised field.
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Tags: Australia, Commercial, Equipment, finance, Financing, global meltdown, Melbourne, More, Needs, Paul Jennings, skid steer loaders, wheel loaders |
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Conventional Financing And Leasing For Agricuture Equipment, Trucking, Medical Equipment, Construction Equipment, And Franchises, Minimal Credit 680
Conventional financing and leasing is still available for credit scores higher than 680 for construction equipment, trucking, medical equipment, agriculture equipment and franchises. There are application only programs up to $75,000 with full documentation packages up to $250,000. This lender is very disciplined in its lending requirements and will qualify only applicants that meet their standards.
This lender requires that a business must be established for at least three years. Additionally, this lender will consider irregular payment structures on a case by case basis.
Additionally, this lender has some repo and off lease equipment available to applicants that don’t qualify for their normal lending practices. These off lease and repos will offered out with less stringent credit and lending requirements.
Check out the program structure, credit and asset guidelines and the asset and industry restrictions as well below. If you have any questions, give us a call
Happy hunting for your conventional financing for construction equipment, trucking, medical equipment, agriculture equipment and franchises.
Program Structure
1. Application-only transactions from $5,000 to $75,000
2. Transactions from $75,000 to $250,000 require a full financial package:
a. Two years’ tax returns or business financial statements
b. Interim financial statements
c. Personal financial statements for all owners
d. Two years’ personal tax returns for all owners
3. Discounting available for approved lessors and with approved documents
4. Terms 12 to 60 months
5. Approvals are good for 20 days. Approvals may be extended upon request.
6. Irregular payment structures (semi-annual, deferred, seasonal, balloon payments) are considered and will require up front credit approval
7. Sale/leasebacks are will not be considered
Credit Guidelines
1. Minimum personal guarantor credit score of 680.
2. Minimum time in business of 3 years
3. Minimum Equifax business credit score of 480 and minimum D & B Paydex score of 65.
4. Corporation-only transactions considered for publicly traded companies only; however established companies may be considered with good financial statements and business credit scores.
5. All individuals with at least 10% ownership are required to personally guarantee.
6. A signed credit release is required in order to pull credit.
Asset Guidelines
1. Trucks and trailers ( model year 2001 and newer )
2. Construction Equipment- includes cranes, wheel loaders, crawlers, dozers, backhoes, skid steer loaders, excavators, etc.
3. Agricultural Equipment
4. Vocational Equipment
5. Limos ( 48 month term max. )
6. Furniture
7. Tow Trucks
8. Doctors Equipment ( must be licensed physicians )
9. Forklifts
10. Landscape Equipment ( zero turn mowers )
11. Franchises
12. Restaurant Equipment (serialized )
Assets and Industry Restrictions
1. Generally, only “hard” assets will be considered
2. No real estate or items permanently attached to real estate
3. Restaurant equipment for established franchises only
4. No airplanes and boats
5. No Computers and software
6. No direct to garment printers
7. No televisions and select audio/visual equipment
8. No hotel FF & E
9. No exercise equipment
10. No medical equipment to non-licensed physicians
11. No residential contractors or construction companies. Commercial and utility contractors are OK.
12. No real estate development companies
13. No timber or logging
14. No long haul trucking companies
Rick has over thiry years in the financial field, including leasing, working capital and hard asset money loans, and commercial lending.
U.S Corporate Capital Leasing Group assists the start up and seasoned businesses for financing in all different industries..
http://www.cclgequipmentleasing.com/lease_construction.htm
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Tags: Agricuture, Construction, Conventional, Credit, Equipment, Financing, Franchises, Leasing, Medical, Minimal, Trucking |
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