If you are talking to a trucking company who needs money, ask Use of funds - equipment financing, working capital or each/both?
Break it down.
Loans up to 7 years and rates 8% and up.
Programs for Fico 680 and up
620 to 680
Below 620
Amount of money requested...
Day cab, sleeper or what Long haul, short haul or what?
How many trucks current own
Type of products hauled
DOT number
Fico
Loan App
4 months business bank statements
Most recent business tax return
Do they require apportioned plate?
Are they Owner Operator or they have drivers?
If have drivers how many driver currently work with them?
If Owner Operator
How many years of CDL/ Industry hauling experience?
Is PG a Homeowner or they are renting?
Have they financed or leased a truck before?
How is their current payment history?
If required can we get loan reference from the other lender(s)?
Invoice on truck he wants to buy
Mileage on invoice. year on invoice
NOTE: Over 500,000 miles and over 10 years old makes it a C-D financing.
For a private party equipment transaction we would need the following: -
Complete condition report (showing make, year, model, with current condition and mileage) -
Photos of the unit
Once unit is approved then lender will request; - Copy of title (front and back) - Bill of Sale
Steve Benjamin
Professional Business Loans
Irvine, CA 92620
https:/probizloans.net/ 949-228-1050
