[Bostonbroker2023]

Hello. My name is chad. I own iron funding. We have been in business since 2014. We finance equipment. We have 12-13, direct lenders we work with for years. Equipment financing is alot different than mcas/working capital. Even someone with a 500 fico can get 24-48 months at rates from 20-35% fixed. I also have A, B and C paper. For instance i just closed a 35k skid steer customer had 5 years TIB with a 715 fico. I gave him 7.75% for 60 months. Only made $1,700 but im fine with it. The equipment dealer that gave me the loan usually gives me b,c,d credit applications.

I make more on those. Equipment dealers are where most of my business comes from. There are marketing strategies for equipment loans. Although i specialize in construction, farm, trucking, landscaping, logging, forestry and other related trade industries, I can finance medical equipment, restaurants, machine tools and just about anything else. Alot of the lenders are generalists and finance several different industries. If anyone wants to learn more about equipment financing or has some deals. I am happy to work with you on them and or teach you how to get more equipment deals.

Thank you

[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

[CamrynVogt]

What is your contact information? Bostonbroker2023

[shamwam]

@Olderguy what are the best lender Equipment Financing?

[Olderguy]

@Olderguy what are the best lender Equipment Financing?

Here are some references to lenders:

Tony Borchello
First Financial
(888) 211-2197
mobile: (949) 800-5767
tonyb@firstfinancialweb.com

Evan Sowa
Senior Account & Finance Manager
Everlasting Capital Corporations
603-351-4725 | 401-771-4883
evan@everlastingcapital.com

Jeff Brannon
Slim Capital
jeff@slimcapital.com
Office: 949-535-2353
Cell: 949-981-0431

Joe Burleson
Equify Financial LLC- Southeast
777 Main St. Suite 3900, Ft Worth, Tx 76102
|C214-673-8575
joe.burleson@equifyllc.com