GET AN INSTANT DECISION
Please keep in mind that the instant decision you'll receive will be based on the information you provide in "good faith" and additional conditions may apply to meet the satisfaction of the underwriter. You have the option to provide your own credit report however, we advise you to read the full disclosure available below.
All approvals are subject to additional conditions you must provide or meet to the satisfaction of the Underwriter. Since we do not request your social security number in the beginning stages of this process to review your credit profile, you agree to provide the information we request above in "good faith" and all information given to us are done honestly; without a deliberate intention to defraud the other party. The conditional approval will stand unless you fail to meet the stipulations the lender lays out. Our credit department will not be able to appropriately process your file if you fail to meet any of the conditions set forth. You may also face a denial if the lender is unable to verify any further data you've provided such as; employment, financials or do not meet their credit criteria. If you take too long to provide the documentation or other information requested, any changes in your income or credit history that have occurred in the meantime will be taken into account.
GOOD/FAIR CREDIT PROGRAM:
Guarantors must have a minimum of 7 trade lines on their CBR with the oldest account reporting 3 years of payment history.
Guarantors with a substantial outstanding tax lien obligations, foreclosure proceedings, short sales, any reported open child / family support accounts, student loan defaults or guarantors that have accounts managed by a credit / debt management counseling service will not be considered
Guarantors with completed loan modifications and 12 months of subsequent, timely payments will not be considered.
CO-SIGNORS & HOW BANKRUPTCIES ARE VIEWED:
Many times the credit strength of an applicant can be enhanced with a spousal, parental or blood relative guaranty. We evaluate this potential additional guarantor on a case-by-case basis. Discharged bankruptcy over two years will be considered in instances when any guarantor has a firmly re-established credit history demonstrating depth and timeliness of payments. For applicants with less than 2 years since the bankruptcy.
BAD CREDIT PROGRAM:
A minimum 500 FICO score & a minimum of 51% ownership of the business is required. Additional collateral may be utilized as a form of leverage to increase your chances of obtaining an approval. Child support collections, repos/car charge-offs, current/dismissed bankruptcy and open tax liens and late payment will be considered. Financial disclosure is required such as the last 3-4 months of business bank statements, the last 2 years of business tax returns, business EIN#, business licenses and a financial statement refelcting both your assets & liabilities may be requested.
EFA & Leases up to $500K
Terms can range from 6-60 months
Additional Collateral is NOT required
Most transactions fund within 3 business days
Other fees such as; taxes, warranty, etc may be financed
App only submissions up to $100K
0% - 10% Down payments are required
Approvals are valid for up to 10 business days
Fleet financing is available to those who qualify
A valid CDL is required and proof of hauling may be requested