Conventional Financing And Leasing For Construction Equipment, Trucking, Medical Equipment, Agriculture Equipment, And Franchises, Minimal Credit 680

Conventional financing and leasing, for new and employed equipment, is still accessible for credit scores greater than 680 for construction equipment, trucking, medical equipment, agriculture equipment and franchises. There are application only programs up to ,000 with full documentation packages up to ,000. This lender is really disciplined in its lending requirements and will qualify only applicants that meet their standards.

 This lender demands that a business must be established for at least 3 years.  Additionally, this lender will contemplate 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 provided out with less stringent credit and lending requirements.

 Check out the program structure, credit and asset guidelines and the asset and business restrictions as well below. There are numerous financing and leasing programs below a credit score of 680.These are excellent financing programs as nicely..

 Happy hunting for your conventional financing for construction equipment, trucking, medical equipment, agriculture equipment and franchises.

             Program Structure

 Application-only transactions from ,000 to ,000

Transactions from ,000 to ,000 call for a full monetary package: Two years’ tax returns or company financial statements
Interim financial statements
Personal monetary statements for all owners
Two years’ personal tax returns for all owners
Discounting offered for approved lessors and with approved documents
Terms 12 to 60 months
Approvals are excellent for 20 days.  Approvals might be extended upon request.
 Irregular payment structures (semi-annual, deferred, seasonal, balloon payments) are regarded as and will require up front credit approval
Sale/leasebacks are will not be regarded as

Credit Guidelines

Minimum personal guarantor credit score of 680. 
Minimum time in company of 3 years
Minimum Equifax business credit score of 480 and minimum D &amp B Paydex score of 65.
Corporation-only transactions regarded as for publicly traded companies only however established businesses might be regarded as with good financial statements and company credit scores.
All individuals with at least 10% ownership are needed 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- consists of 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 Business Restrictions

Typically, only “hard” assets will be regarded as
No actual estate or items permanently attached to actual estate
Restaurant equipment for established franchises only
No airplanes and boats
No Computers and software program
No direct to garment printers
No televisions and select audio/visual equipment
No hotel FF &amp 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 actual estate development companies

13.  No timber or logging

14.  No lengthy haul trucking organizations