[Olderguy]

Here are some equipment financing questions you should have answers to when submitting a file:

(Loans up to 7 years and rates 8% and up?

Amount of money requested...

Use of funds - equipment financing, working capital or each/both? Break it down.

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
important - what is their TIB in business....best lenders want to see 5 years +. If that is not the case, find out their prevous driving experience and document it in the submission

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.
Hours on trailer if that's what being financed
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 we will request;
- Copy of title (front and back)
- Bill of Sale

Condition Report Vehicle reduced.pdf

Reach out if you need help of have questions