Equipment leasing 1

Step 1 of 6

Guidelines

- Acceptable Credit: A – C
- Finance Amount: $15,000 - $300,000
- Coverage: United States
- Acceptable FICOs: 550 and higher
- Rates: Single digits and higher
- Acceptable Asset Categories:
  - Construction
  - Transportation
  - Trailers
  - Material handling
  - Agriculture
  - Medical
  - Commercial Printing
  - Demolition
  - Livery (Limos)
  - And many more

Programs available

1. Application Only: $15,000 - $150,000: with only 2 documents: signed and dated by customer credit application and invoice/ quote for equipment that includes the asset’s specifications: description, make, model, price, mileage (if applicable), and hours (if applicable). Deals are usually turned within 2-3 days due to simple and straightforward process. Start Ups are excluded from Application Only program as we require 2 years Tax Returns
2. Application plus: $150,001 - $300,000: (what’s Needed)
  - A signed and dated credit application
  - Equipment specifications
  - Description of Business (sales volume, business history, et al)
  - 2 years Tax Returns (or accountant prepared financial statements)
  - 3 months recent company bank statements
  - Current Interim financial statements
  - Personal Financial Statements (any owner 20% or more)
  - Additional information if requested
3. Private Party Sales (not available in California)
  - Non dealer financing
  - Can purchase asset from entity other than dealership
  - All equipment, including OTR sleepers, must include a Truckmaster Warranty (see Truckmaster Warranty)
  - Equipment must have strong value and useful remaining life
  - Seller must own free and clear – No liens allowed
  - Collateral Verification required: $200 nonrefundable fee (see Aspen verification) collected up front
  4 Documents are required:
  - Security Agreement
  - Personal Guarantee Letter
  - Schedule A or acceptance document
  - Power Of Attorney (only for titled vehicles; it must be signed by the seller, not the customer
4. Refinance / Cash Out (not available in California)
  - Pull equity from unencumbered assets, as well as refinance assets with better terms
  - Use equity for other business needs
  - Alternative to Working Capital financing
  - Can be used to purchase existing lease
  - Proceeds can be used for down payments for other transactions
  - All equipment eligible except OTR sleepers
  - Aspen Verification required $200 fee applies (see Aspen Verification
  - 75% Maximum LTV loan to value (example) $100,000 appraisal potentially $75,000 (minus brokers fee) can be cashed out

Equipment financed

Transportation: Day Cab Truck, Box Trucks, Reefer Trailers
Material Handling: Forklifts, Reach Lift, Tele-hander
Vocational: Tow Truck, Dump Truck, Street Sweeper
Industrial: Hot Oil Unit, Carpet Cutting, Sod Cutter
Machine Tools: Horizonal Machine Center
Vertical Machine Center
Lathes
Commercial Printing: Digital Printing Press, Bindery Equipment, Sheetfed Press, 3-D Printers
Refuse: Rear-load Refuse Truck, Sideload Refuse Truck, Roll Off Truck
Manufacturing: Food Processing Equipment, Thermo Forming Equipment, Slicer
Construction: Excavator, Bulldozer, Backhoe
Packaging: Shrink Wrapper, Edge Bander, Baler
Recycling: Compactor, Crusher
Demolition: Tub Grinder, Wrecker
Medical Equipment: Ultrasound Equipment
Digital Cinema
Livery: Limo
Franchises
Cryotherapy Chambers
Lasers
Agriculture: Tractors, Balers
Logging: Feller Bunchers, Log Loaders, Log Trailers
Buses: Coaches, Mini-Buses, School Busses

If you do not see your equipment on the above list: CALL US at 503-512-5007 M-F 9-5 PM Pacific Time Zone

Vehicles	Age	Age/Year	Miles / Hours	Exception
TRUCKS
Sleepers	4 Years	2016 or newer	500 000	6 years / 700 000 miles with 2 year truckmaster warranty
Day cab & Auto Carriers	8 Years	2012 or newer	500 000	10 years/ 700,000 miles with 2 Year Truckmaster Warranty
All Other Trucks	8 Years	2012 or newer	500 000	N/A
Dump Trucks	10 Years	2010 or newer	500 000	10 Years/ 700,000 miles with 2 Year Truckmaster Warranty
Medium Duty Trucks	8 Years	2012 or newer	300 000	N/A
LIVERY
Sedan/SUV	5 Years	2015 or Newer	100,000	N/A
Minibus- Large Chassis	8 Years	2014 or Newer	250,000	N/A
Minibus Small Chassis (E350)	6 Years	2014 or Newer	150,000	N/A
Coach Bus	10 Years	2010 or Newer	500,000	N/A
ALL TRAILERS
Small Auto Transport Trailers	8 Years	2012 or Newer	15,000	N/A
Small Auto Transport Trailers	No Auto Transport Trailers non-can	EQ: No-Kaufman Trailers

Construction	Age	Year	Miles/Hours	Exception
Light- under 20,000 lbs.	10 Years	2010 or Newer	15,000	N/A
Heavy – Over 20,000 lbs.	15 Years	2005 or Newer	15,000	N/A
All Other Equipment	10 Years	2010 or Newer	N/A	N/A

I understand and agree

Initials required*

Over The Road (OTR) Sleeper Guidelines

The sleeper Truck Guidelines distinguish between Homeowners and Renters. The parameters require a minimum number of open tradelines, comparable debt, and specified time elapsed on prior foreclosures, repossessions, and charge offs on debt and/ or credit cards.

Homeowner	Renter
Minimum 6 Tradelines	Minimum 8 Tradelines
Home Equity Line Of Credit: 2 Years old with last 24 months of prompt payments	Must have debt comparable with opening amount equal to/ greater than 70% of invoiced request, in place for no less than 24 months, and paid as agreed for last 24 months
Free and Clear Home: Borrower must be owner and Trulia (or similar) estimated value must be equal to or great than Invoice amount
No charge offs/ collections on debt or credit cards last 3 years	No charge offs/ collections on debt or credit cards last 3 years
No foreclosures last 5 years	No foreclosures last 5 years
No repossessions/ delinquency charge offs last 3 years	No repossessions/ delinquency charge offs last 3 years
No open Tax Liens $15,000 or more	No open Tax Liens $15,000 or more
If Time In Business is under 3 years, FICO must be over 650 (Experian)	If Time In Business is under 3 years, FICO must be over 650 (Experian)
If Time In Business is Over 3 years FICO must be over 600 (Experian)	If Time In Business is Over 3 years FICO must be over 600 (Experian)

GPS Requirements

Lender requires that a GPS unit installed on any asset that moves. This includes: vehicles, trailers, and construction equipment. Exclusions are assets, other than vehicles that have a $30,000 value or less. For construction equipment: no asset having an invoice below $50,000 will require a GPS.

For vehicles, the price of a GPS unit is $313.95. For equipment, the price is $695. This cost can be financed into the payment. (example) a day cab GPS costs $6.54 a month.

Aspen Verification

Any used asset that is financed that does not require a GPS installation will require an Aspen verification. An Aspen verification is not required on new titled or non-titled assets, where the vendor/ distributor can be confirmed as the authorized seller. An Aspen verification is an external authorization process that carefully evaluates collateral. The unit in question is video- recorded and discernably checked on the following points during the verification:
- VIN Number
- Asset’s Location
- Asset specifications verified
- Pictures of asset taken
- Video Inspection taken
Trailers and some non-mobile specialized equipment such as printers, machine tools, et al, may require a verification.
- Refinance/ Cash Out requires verification
- Private Party requires verification
A flat fee of $200 is charged and must be paid by credit card prior to documents going out. If financing does not close the fee is non-refundable.

I understand and agree

Initials required*

Equipment leasing

Step 1 of 6

Guidelines

Programs available

Equipment financed

I understand and agree

Over The Road (OTR) Sleeper Guidelines

GPS Requirements

Aspen Verification

I understand and agree

Warranties

Truck Master Warranty

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Factors that result in an Auto-Decline

Unacceptable Asset Categories

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1. Application Only

Documents needed:

Deals are usually turned within 2-3 days due to simple and straightforward process.

SELECT

2. Application Plus: $150,001 - $300,000

Documents needed:

SELECT

3. Private Party Sales (not available in California)

Documents needed:

Collateral Verification required: $200 nonrefundable fee (see Aspen verification) collected up front

SELECT

4. Refinance / Cash Out

Documents needed:

Collateral Verification required: $200 nonrefundable fee (see Aspen verification) collected up front

SELECT

General Information

Business Information

Financial Details

Principal/Guarantor/Owner 1

Principal/Guarantor/Owner 2

Principal/Guarantor/Owner 3

Equipment Finance Reference

Insurance details

Bonding details

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