[PrevailBusinessGroup]

We have partnered up with a Heavy Duty Machinery Auction House to provide Equipment Financing. The Auction House would like to set up a program where its attendees can get pre-qualified for equipment financing. Is there a Funder out there that would like to set this program up with me?

[Olderguy]

Yes, it's possible to set up a Master Credit Line for equipment financing but they pay on invoice so I don't know that will work with an auction. I am doing that for truckers I get SBA 7A loans.

From Tony:

Normally if auctioneer wants a pre-approval for their client to purchase equipment from Auction house there are no upfront fees. Same as vendor generated transactions as in those cases lender know the specific dollar amount they as seeking to finance and Master Credit line may not be necessary. Unless they ask for one

Tony Borchello
Director of Commercial Lending
Tony@financeitforward.com
888-211-2192
949-800-5767

[Ehenek]

You just need to ask the Client what is the budget they are willing to spend and get the brochure prior. I would get them preapproved prior to the auction. Simple...

[Nhemp]

I would need a package prior to the auction to get them preapproved, as long as credit and banks are healthy shouldn't have an issue getting them approved.

Naisha Hemphill
HIL Financial
www.hilfinancial.com
Office: 425-296-8273
Email: naisha@hilfinancial.com

[Ehenek]

Easy Peasy! There are a thousand ways to approach this! It sounds like you have some familiarity with Equipment financing!

[Nhemp]

I do indeed! HIL Financial specializes in connecting business owners with equipment financing. As you mentioned, there's a ton of ways to approach this, simple doc package of 3 months banks and an app (SOFT PULL ONLY) is plenty to get an understanding of what they will qualify for and have a preapproval on hand while they shop.

We like to keep it simple

Naisha Hemphill
HIL Financial
www.hilfinancial.com
Office: 425-296-8273
Email: naisha@hilfinancial.com