[FundingGuy]

I never did Equipment Financing
Lots of merchant is asking for equipment financing
Can you guys tell me the requirements of equipment financing, what do I need to get from the merchant
and Which lenders do Equipment Financing
Thanks in Advance

[Olderguy]

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

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

Hope that helps and is a start...

[jfeinberg]

EquipmentBrokerSchool.com

[FundingGuy]

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

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

Hope that helps and is a start...

Hi Steve,
First of all thanks, it seems you are the most helpful and active person on this platform. There are lot of things to learn from you.

and the merchant I was talking with he have a Construction business.

[Olderguy]

I just saw this....all I need is 4 months bank statements, loan app, Fico score and invoice for the equipment.