Equipment-Sale Leaseback

Description:

Equipment leasing program is for revenue generating asset of a company. Lease/Loan request for equipment that is specific for the company’s industry. Start-up programs (<2 years TIB) up to 30K and 24-48 month term leases from 5K- 10M for 3+ years TIB. Deal structures: EFA (equipment Finance Agreement), 10% PUT (end of lease 10% balloon), FMV (fair market value), and $1 buy-out (residual).

Submission:
  • Completed application
  • Proof of ownership (tax return, Secretary of State filing minutes, Business Lic etc)
  • Proof of TIB (Tax returns, bank rating etc.)
  • Detailed Invoice of equipment (cost breakdown, VIN #, Serial #, Vendor info and contact, billed and ship to client’s business etc.)
  • If Private seller, will also need pictures of equipment to include data plate.
  • To expedite the process we request these documents are separated and in PDF format.
    • Example: Dex Small Pony INC truck pic1.pdf Dex Small Pony INC Application.pdf

Once legible and completed documents are received the file is reviewed by a Finance officer and you will be contacted within 24 hours to discuss findings and all options available to client.

Minimum Requirements (non start-ups) for Submission:
  • Time in business 3+ years
  • 620 FICO
  • NO BKs
  • Homeowner preferred
Additional Notes:
  • NO Long-Haul trucking (unless it is a fleet 5 or more)
  • Equipment must match business industry (no pizza-ovens for a trucking company)
  • Asset and vendor goes through a separate approval than client. Example: Client is qualified but the asset he wants is too old, over-priced, etc.
  • Companies that have titled equipment owned outright can use as collateral to mitigate risk. Must be less than 10 years old and less than 600K miles (trucking).
  • Value of collateral is calculated 80% of auction value based on national auction pricing
  • Collateral Required: Existing equipment, or new equipment business wants to purchase
  • Loan Amounts: $10,000-$2 million
  • Term: 12-48 months
  • Rates: 15%-40%
  • Credit Requirements: 520 or higher FICO score
  • Details: Borrow against existing and already owned equipment
  • Deal Submission requirements: Application, details on equipment being financed