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Matt Tellez

April 4, 2023

Verified

Broker

Looking for Equipment Lenders

Hi we are starting to get request for equipment finance and are not signed up with anyone.

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STEVE BENJAMIN

2023年4月04日

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Equipment Financing Questions to ask....

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 truck 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) - see attached - Photos of the unit Once unit is approved then lender will request; - Copy of title (front and back) - Bill of Sale