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Lease Financing Over-the-Road Interstate Sleeper Trucks
Through our network of private
investors, community banks and insurance funds, we can help expand or
upgrade your fleet.
Call us today
1-800-503-1972. Here's what we will ask about:
Your exact legal business name; its physical
address, telephone, fax, cell phone (required for owner/operators), business
structure, tax ID number, type of business, and time in business.
Your full name, home address, home phone,
time at current address (years and months), and Social Security Number .This
is requested for each owner.
Your gross Annual Revenues and what type of
documentation is available for verification
Your business bank and trade references to
include account numbers and name and phone number of direct contacts.
Use of proceeds (i.e. replacement or addition
to fleet).
The Number of tractors owned, and number of
trailers owned (identify units to be replaced if applicable).
Are you a driver? If fleet is less than 5
trucks and you, the borrower are not a driver, an explanation must be
provided.
Complete description of equipment to be
acquired including specific type of truck (sleeper, day cab, etc.) and
specific type of trailer (dry van, flat bed, car hauler, etc.). If dry van
trailer, is it air ride or spring ride? Truck and engine mileage is critical
to the deal.
Your down payment or equity must be
explained. Down payments will require a copy of the check before funding.
Any additional information including a brief
overview of the company, and anything pertinent to the deal not included in
the above.
What About the Credit
Requirements?
These will vary from investor to investor but there are a few basic criteria
every investor will review:
Credit Score: Most investors will look for your
personal credit score to
be 675 or higher.
Time in Business: Generally, we need to show you have been in operation no
less than two years; more favorable terms are available after you have been
operating for five or more years.
Business Credit Rating: If your business has been extended payment terms,
and that vendor is reporting your prompt payment history, your Paynet rating
should be satisfactory and your Dun & Bradstreet Paydex rating should be 65
or higher.
If the business does not have five employees and five tractors, the owner must be a home-owner and provide owner operator history for the last three
consecutive years.
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