For now, our bank has been pretty aggressive on trucking equipment that is 5yrs old or newer:
Rates:
7%-9% APR for existing businesses
9%-11% for Startup Truckers
Down Payment:
0%-5% down payment for existing businesses
5%-10% down for startups
Here are the rules:
-5yr old or newer Equipment, term is based on age (2yr term for 2012, 2-3yrs for 2013/2014, 3-4yrs 2014/2015, 5yrs for 2015+)
-min 650 Experian Score with little or no derogatories (this program is for clean credit)
-We will finance sales tax and FET
Turn Around:
-Application + Sales Quote up to $400k (financials needed beyond $400k)
-1-2 business days to turn around an applicaiton
I'm not sure how long we'll be this aggressive, but we need to make hay while the sun is out.
As always this is only one of our programs; we have others for folks outside these criteria.
-Spencer
Rates:
7%-9% APR for existing businesses
9%-11% for Startup Truckers
Down Payment:
0%-5% down payment for existing businesses
5%-10% down for startups
Here are the rules:
-5yr old or newer Equipment, term is based on age (2yr term for 2012, 2-3yrs for 2013/2014, 3-4yrs 2014/2015, 5yrs for 2015+)
-min 650 Experian Score with little or no derogatories (this program is for clean credit)
-We will finance sales tax and FET
Turn Around:
-Application + Sales Quote up to $400k (financials needed beyond $400k)
-1-2 business days to turn around an applicaiton
I'm not sure how long we'll be this aggressive, but we need to make hay while the sun is out.
As always this is only one of our programs; we have others for folks outside these criteria.
-Spencer
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