Tag: loans

Loans for businesses.

How to get loans for a small business.

There are almost always options. Companies just need to correctly match their strengths with the programs available.

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Top 6 Reasons That Business Loans Do Not Close

Top 6 reasons that prevent businesses from closing an approved loan.

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Cannot prove time in Business

Businesses often begin as a Sole Proprietorship or Partnership and Incorporate later.
When this happens, the Secretary of State will only show the time in business since the time of the Incorporation.  The time the Company was a Sole Proprietorship or Partnership will not be added.

For example, if a Company was Unincorporated for 3 Years and has been incorporated for 2 Years, it will only show on the Secretary of State as 2 Years Time in Business.   If the Company wants credit for the full 5 years, they should provide the business licenses since it began as a Sole Proprietorship.   Lenders will give the Company credit for the full 5 years.

Not being able to provide proof of the existence of the business

Some States do not require a business license to operate a business.   The owner will operate the business in their personal name and say they run a business.  They will not be able to get a business loan because they cannot prove the existence of the business the way Lenders require it.

Business Account balances are too low or overdrawn at the time of closing

After a business is approved for a business loan, their Business Checking account may be reviewed before closing.  This will include a review of the current balances, the Month to Date balances, NSF’s and Overdrafts within the last 30 to 60 days.

If these are too many NSF’s and overdrafts, the Lender may kill the approval just before closing.   Review your balances and activity to make sure this will not impact your approval.
Cannot pass bank verification 

Many business loans require a verification of the business bank account. This is often done through 3rd Party Vendors such as a DecisionLogic check, and Joinme.  Bank verification can also be done through phone verification.

Cannot pass merchant loan closing call
The lender will often call the merchant just before closing for a merchant loan closing call. The purpose of this is to go over the terms with the merchant, get agreement and simply verify the merchant and that they want to close the loan.

The business cannot provide all of the documentation required in the closing stipulations.

Business loans have a list of closing requirements that have to be met. If the applicant can get most of them but not all of them, they may not be able to close the loan. If you fall short in getting the Documentation required to close a business loan, talk to the Lender about what is missing. You may be able to get the remaining items waived. Another option is to provide substitute information.  Many times alternatives to what was asked for may be accepted.
New business
A new business and businesses less than 2 years old will have a hard time getting funding. There are still some options for a very short time in business that a new operation can take advantage of to get funding.

All of these reasons add up to a long list of why banks don’t lend to small business.  Apply for programs that DO approve small businesses.

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Top Reasons Business Loans Don’t close

Frequently asked questions FAQ: The top reasons business loans don’t close

What are the main reasons businesses can’t close a loan?

Problems at closing and denials include not being able to satisfy closing requirements and
customer background checks. Other reasons include low revenues, bad credit, short time in business and type of business.

What can we do if there is a problem before closing?

Many obstacles to closing can still be overcome and the loan might still close. Possibilities include asking the lender for a lower amount. Ask them specifically what can you do to correct any closing problems and still fund the loan. Some things cannot be corrected but get them to offer solutions to you.

What business loans can we get after the banks have turned us down?

There are many alternative options your business can consider when traditional banks won’t
close the request. Contact us to review your specific situation.

Avoid these problems and you stand an excellent chance of having your business loan close fast.

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Top 12 Customer Complaints with Business Loans

Customers have several common complaints about Business Loans.   Here, we will take a look at the Top 12 customer complaints.  Customers often do not close an approved business loan because of one or more of these reasons. Apply below for programs that fund businesses over these hurdles!

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Top Customer Complains with Business Loans

Top 12 customer complaints with business loans:

    1. The rates and cost is too high.   They want a better rate and terms.
      Customers often want and need a business loan with a lower rate and better terms.
      Another requirement is they need working capital with lower total repayment and lower cost overall.
    2. The approval amount is not enough
      Customers often call in and say they need a higher approval amount and more money
      for my business loan.   They will go for a different loan if they cannot get what they want, or also get a second loan.
    3. The term of the loan is not good.
      Customers also say the term is too short and needs to be longer.  Another requirement is a business loan longer than 24 months.
    4. It is not a Monthly Payment.
      A very frequent request is to get a business loan with a Monthly payment.   Customers really want a Monthly payment if they can get it.
    5. It is a daily payment.
      Applicants will say right away if they do not want a business loan with a daily payment.   Many have had this type of repayment in the past and will not do it again.
    6. It is a Merchant Cash Advance.
      Customers oftentimes do not want a Merchant Cash Advance.   They will say they need a business loan that is not a Merchant Cash Advance. When this is the case, the customer will look for alternatives to a Merchant Cash Advance.
    7. The Prepayment option is not good.
      Another complaint is they want a business loan with no prepayment penalty.   They want to be sure they will get a good discount if they pay off early.
    8. The type of loan is not what they wanted.
      Sometimes customers will tell you they don’t want the type of loan they have been approved for.   They do not want very expensive payments or an unfamiliar product.They are not sure what type they want, but they have decided they don’t want the one being offered.   Have a conversation about other business loan types so Customers will get the loan that works for them.
    9. They don’t want to put up Collateral
      Many do not need or want a business loan with Collateral.   They do not want to put up Collateral, or they do not have Collateral.
    10. Do not want to give a Personal Guarantee.
      Customers may not want to close a business loan with a Personal Guarantee.  They believe they can get an offer without one but most financing requires it.
    11. Whether the loan will, or will not be reported on their Personal Credit.
      A business loan that reports on Personal Credit is sometimes specifically requested.   Other times, customers want the opposite and do not want it reported to the credit bureau.
    12. The request took too long.
      Some requests that are eventually approved do not close because the processing time was too long.   Customers will tell us they need funding quickly.  These are the Top 12 Customer complaints with business loans.   Contact us to apply for programs that avoid these problems.
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Canadian Small Business Loans

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What type of alternative business loans can I get in Canada?

Canadian Business bank statement loans

Canadian companies can find alternative working capital loans available in the United States.

Another option is a business bank statement loan.

The company’s business cash flow is how they can qualify.  Because of this, the business needs to have the following:

  • $10,000 per Month in deposits each of the last 3 months.
  • 5 or more deposits per month.
  • An average daily balance of $1,500 or more.

How do I qualify for a business loan in Canada?

Review the alternative business loans for businesses in Canada on this page.   Decide which option you may qualify for.   Complete the Online application above or call and talk to a representative and discuss which loan option might be best for your business.

Canadian Accounts Receivables financing

After a Company’s products have been delivered or services rendered to another company, they send an invoice for payment.  Canadian Accounts Receivables financing funds about 75% of the face value of the invoice is paid immediately to the company issuing the Invoice.   When the paying company pays the invoice, the last 25% is paid minus a service fee. As a result, the company’s cash flow is accelerated by 100% during the year

FAQ Frequently asked Canadian business loan questions and requests

Can I get a business loan in Quebec?

We have excellent options for businesses in Quebec. Terms between 3 and 9 months with competitive rates and fast funding.

Amounts range from $10,000 as high as $500,000 for Canadian companies. Establish a relationship now for easy future funding. Underwriting offers fast renewal funding options. Apply above.

Canadian small business loans. Get easy and fast alternative business loans for businesses in Canada. Short 30 second Application.

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Bank Statement Business Loans – high approval rates

What are bank statement business loans?    They are loans that rely on the bank statements of your business as your ticket to get approved for financing.

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Bank Statement Business Loans

Does your business have revenues?   Then your business has an excellent chance right now to get fast funding.

Get an offer today for the capital your business needs using just the last 3 months business bank statements.    Start below with same day approvals.

 

Features and benefits:

  1. High approval rates and high approval amounts
  2. almost all businesses can prequalify based on their cash flow.
  3. Same day approvals common
  4. Large business loans also available
  5. Review options on how to get a large business loan over $100,000, 250,000 and as high as $1,000,000
  6. Daily, weekly and monthly repayment options available for many businesses
  7. No prepayment penalty for some programs
  8. Does your business have tax liens?   We have a program that specializes in business loans with tax liens.
  9. Soft credit pull for some programs
  10. No collateral needed

Other bank statement business bank statement loan advantages:

Get up to 125% of a customer’s total monthly deposits. If your business has average monthly deposits of $100,000, then expect your approval to be up to $125,000 if there are existing loans.

How to qualify

– Provide a signed and dated application online.
– Send the last 3 months complete bank statements from the main business account along with the application.

FAQ Frequently asked questions:

Question: What is the most we can get?
Answer:The approval amount depends mostly on monthly deposits per month, the average daily balance,  credit and time in business.    With high deposit volume your business certainly may get a high offer.
Question: We are in Canada.   Can we get funding?
Answer: Yes.   This loan based on business bank statements  is also available in Canada as well as Puerto Rico.
Question: How long does funding take?
Answer: Approvals are usually the same day and as fast as 2 to 4 hours.  Funds can be in your business checking account that same day or next day.
Question: What are the repayment terms?
Answer: The repayment terms are between 1 Month and 24 months.   Most offers are 6 to 12 months.  Sometimes approvals for 12 to 24 months are available.
Question: Can my business have overdrafts and nsf’s?
Answer: Yes, the most is 7 overdrafts or 7 NSF’s per month. If your business has more than 7 overdrafts then it can still be reviewed for approval. Over 5 overdrafts or NSFs per month are considered high.

In conclusion:

For all the reasons above, your business has an excellent chance of getting funding based on the monthly revenue it deposits.    This funding is an excellent way to do that without being denied for bad credit, time in business and not having financials.

For further expert general small business assistance, visit SCORE, Counselors to America’s Small Business.

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Large Business Loans: $25,000 + Fast and Easy

Large Business Loans

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How to get a large business loan

Steps to successfully get approved for and close.

How to Supply: Cash Flow Statements

How to Tool: Desktop, laptop, tablet or phone

Step 1:  How much do you need?

First decide, how much do you need? $50,000, $250,000, $500,000, $2,000,000 or more?

First ask yourself: How much do I need ?

VIDEO CLIP Below: How much do you need Clip ?:  6 Seconds –
11 Seconds in Clip below.

Step 2: Find a Lender

Search for a Lender that offers large business loans

Call and ask about Qualifying and Terms.

Call Lenders to match your company’s needs.

VIDEO CLIP Below: Call Lenders Clip:  12 Seconds –
16 Seconds in Clip below.

Step 3:  Apply.

Apply and get your best chance for approval by working closely with a rep.

Provide Cash Flow Information to show you can repay.

TIP: If you’ve been denied, try to correct the decline reasons and get approved.

Apply for Funding


VIDEO CLIP Below: Apply:  17 Seconds –
26 Seconds in Clip below.

Step 4: Close

After an approval, close the Transaction. Gather all Closing Items Required. Proof of Ownership, Bank Account Verification may be Required.

Sign the Contracts and get funded into your Account

closing the transaction

VIDEO CLIP Below: Close:  27 Seconds –
37 Seconds in Clip below.

 

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FAQ Frequently asked questions on large business loans.

How can we qualify for a larger business loan?

Businesses that have revenues over $25000 per month and time in business over 3 months may qualify for higher amounts. Higher deposit amounts and average balances per month qualify for bigger loans. For some programs higher credit scores or strong financial statements can increase approval amounts.

Do higher amounts take longer to close?

Many of the programs get money to businesses in the same one or two days as smaller loans. Certain longer term programs and amounts over $500,000 can take longer to approve.

Can newer businesses qualify?

A start up can get large business funding amounts if they have had strong sales in the first few months. The business will need to have been operating and generating revenue for at least three months.

Can we get funding from the same program again later?

Yes. When the business pays the balance down to 50% it can qualify for more funding right away. One program is available now in which businesses can get funds after 30 days of timely payments.

Will Real estate and other assets be required?

Real Estate is not required. Customers that offer real estate or other assets can get higher approval amounts. Most businesses close the maximum they qualify for without using real estate or any other assets.

Can we get a monthly repayment and a longer term?

Monthly and weekly repayment business loans are available with longer terms of up to 60 months.

 

 

Many businesses need funding for over $500,000 or as high as $1,000,000 and higher.

Paying off a large Merchant Balance with a loan

You can take a merchant cash advance with a high or large balance and pay it off.     Doing this can extend the term several months longer.  A large merchant cash advance of over $100,000 or over $200,000 with less than 6 months left can be paid off and the term can be extended to 10 or 12 months.  Terms up to 120 months may be available with same day and next day loans.   Payoff your advance today!

Business owners say they have been declined because the amount they asked for was too high.  They requested a business loan over $250,000 or more and were denied.  Our programs are designed for higher dollar business loan needs.

Callers call in and ask:

Business revolving line of credit:   Callers request.”We need fast same day funding”

Use the following chart below to determine what you will need when applying.
$50,000 to $100,000 Business Loan:  Provide an application and last 3 months bank statements.
$100,000, $150,000 and $200,000 business loan.   Provide an application and last 3 months business checking account statements.
$250,000 to $300,000 business loan.  Submit an application, last 3 months business checking account statements and Year to date interim Profit and Loss (P & L) Statement.
$350,000, $400,000, $450,000 and $500,000 Business loan.   Submit an Application, last 4 Months business checking account statements, Year to date Profit and Loss and Balance Sheet.

$500,000, $600,000, $750,000, $1,000,000 and $1,500,000 business loan

$500,000, $750,000, and $1,000,000  business loan:  Submit an application, last 6 months complete business checking account statements.  Provide the last 2 Years business Tax Returns.
$1,000,000, $2,000,000, $3,000,000, $4,000,000 and $5,000,000 business loans.   Submit an application, last 12 months business checking account statements and last 3 years business Tax returns.

Businesses that have been denied by a lender because the amount of the request was too high will still try to get  small business loans another way.   Ask lenders upfront if they have a maximum loan amount and if they have different criteria for different dollar amounts.  If so, what are they?

Because the lender has different lending criteria for higher business loan requests, they may not provide you with the information.   Ask these questions to help get approved and also avoid unnecessary declines.

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Asset Based Loan

LGBT Friendly Business Loans

Business Loans to support the LGBT Community

Start here for full LGBT small business loans and options.  Equal access to business loans.   Consider us for your gay business owner funding resources for alternative loans.

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Complete the secure Data Secure 15 Second Request Form Here.

How are we different?    We will first discuss your business in detail.   Your future business goals and needs will then be reviewed.   From that, the business loan products that are the best fit and can be approved will be discussed.   We stay with you through the entire loan process.   

500 and lower credit scores can be approved.   Tax liens, short time in business accepted.   $5,000 to $500,000.   Short and long term loans. 3 months to 120 months.   Fast turn around.   Same day responses in most cases.   Short 1 page application.   Fast and easy process.   

We will help you get an LGBT business loan fast through this program.

LGBT business owners sometimes encounter discrimination in the loan process.  Our loans avoid these problems.  There is full and equal access to business loans for the lgbt community.  We discuss the specific needs of each business owner in detail.   We help them determine the product that best fits their business now.

We work with and volunteer extra professional assistance to the community.   There are many requests.  Callers call in asking for gay friendly business loans.

Business Loan for Gay and LGBT businesses questions:
Are some of these lgbt friendly business loans programs specifically for the LGBT Community?  No.   These loan programs have been reviewed to insure they are friendly to the Gay and LGBT business community. All customers are welcome as well.

Business loans for Gay and LGBT Businesses Resources:

For more resources, visit the SBA.

Thank your for visiting our LGBT Business Loan page!

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Asset Based Loan

Open Tax Lien Business Loans – Get Resolution, Today!

The place for businesses to get money to pay federal or state liens with, or without a payment arrangement, behind them.

Your business can choose from several options to get a business loan to resolve the debt, even with an open tax lien that has no payment arrangements.

Act now and resolve your business back taxes for good.

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Open tax lien business loans

Program # 1:   Business funding based on the assets of the business.  If the business has over $10,000 per month in sales, they may be able to get a business loan based on their sales.

Commercial real estate with equity can also be used to payoff the open tax lien.   At closing the tax lien is paid off from the proceeds of the loan.   Another option is to use business equipment. Get capital based on business equipment.  Use the funds to payoff the tax lien.   These options can also be used to pay a tax lien that has a payment plan and also tax extension deadline balances.

Business loans with an IRS payment plan

There are several business loans that can be obtained for a business with an IRS tax lien that has a payment plan. A business can use the revenues of the business or the hard assets of the business.  This can be Real Estate or Equipment.

Business loans without a payment arrangement with the IRs.

A business that has a tax lien without a repayment plan can be financed.   Businesses needing immediate help can now quickly use their revenues or assets to get working capital or a business loan.  The process is fast and easy.   Up to 5 to 10 business days and just a one page application.

Resolve your open business tax liens with several quick programs.

Finally, other sources of information related to tax liens may be found at the SBA small business administration site.

FAQ on business and open tax liens

What is an open tax lien?

An open tax lien is a lien that has been filed by the irs or state government against a person or business that does not yet have a payment plan approved for repayment.

Can I get a business loan with a tax lien on my credit bureau?

There are several business loan options for businesses with a tax lien or open tax lien that are usually paid off at closing. Options are based on assets such as real estate or equipment as well as on cash flow.

Do I need an offer in compromise from the IRS before I can get a business loan?

A formal oic is usually, but not always needed. Real estate or equipment backed transactions may allow for payoffs of irs or state liens at closing. Smaller tax liens may not require an offer in compromise to close a business loan.

How do I know if I have a tax lien against me or my business?

Registered letters are sent by the IRS and state when liens are filed against you or your business. It will also appear on your credit bureau and against real estate you own. The county real estate office will have a record of liens against property.

Should I pay a tax lien if it has already been filed and damaged my credit?

Most lenders will not approve a personal or business loan with an active tax lien. Companies and vendors you do business with may be reluctant to enter into a contract with one on your credit file. The IRS also has the power to seize any of your assets without notice.

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Asset Based Loan

Annual Payout Provision on Business Loans: What is It?

Definition of Annual payout provision

When a business has to payoff their loan to $0 once per year.

When approved, lenders sometimes have this annual payout requirement.

For low doc working capital that do NOT require annual payouts,  complete below

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In most cases, banks are the institutions that require annual payout provisions on business loans.

The balance has to be paid down to zero at least once per year.  This is a major negative that borrowers should be very cautious about.

Don’t mistake this for a minor aspect of the transaction because it could end up being very hard for the companies to do.   Very few can payoff a balance on any debt once per year.

Borrower considerations

If an annual payout provision is not met, what can the lender do? If the company does not pay the balance off once per year, the lender may have the right to:

  1. Call the loan due and to be paid in full immediately or face a declaration of default.
  2. Raise the interest rate
  3. Impose heavy penalties and fees.

Do they have the right to take some or all of the collateral?   Can they liquidate any listed stock or bonds that were pledged?  If so, how likely is it the lender may do this?

Will the lender liquidate assets fast or only if the borrower goes very far past due?   These questions need to be asked.   Borrower that pledged  free and clear collateral such as real estate as security may have high risk exposure.

The borrower needs to consider the requirements if real estate is secured for the transaction.   For transactions larger than $100,000 or more, the borrower must closely monitor their cash flow during the year.

Even for businesses that have high annual sales,  coming up with a significant amount each year is challenging.

Consider your average monthly bank balance as an estimate of the most they can come up with to meet an annual payout provision.  That amount is the maximum balance they should carry on their loan during the year.

Categories
Asset Based Loan

Why are landlord waivers required for Business Loans?

Landlord Waiver

 

What is a landlord waiver and why are they sometimes required for business loans?

In many cases the need for a landlord waiver is questioned by the borrower.   Why do lenders require these for many popular small business loans such as a loan using bank statements? The lender has made an asset based loan or loan against equipment, such as vending machines or restaurant equipment.

 
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To get funding without a landlord waiver closing stipulation requirement, apply below.

 

Lenders require landlord waivers to avoid or minimize losses for businesses with bad credit or slow pay as well as default on previous loans.   Many business loans include collateral that is on the premises of the borrower.   The landlord waiver allows the lender to enter the property and obtain the collateral in the event of a default.   If the lender did not have a signed landlord waiver, they could not enter the place of business of the borrower to take their collateral.   Landlord contact information will be ask for if this is required.

Without the landlord waiver

The lender cannot legally enter and repossess collateral.  The owner of the property can seek recourse against any lender entering the premises without permission of the landlord.  There are some business loans in which a lender asks for a landlord waiver but does not consider it critical for the loan.    This requirement is one of the top customer complaints with business loans.

A lender normally considers a landlord waiver absolutely critical if they ask for it and will not fund a transaction without the waiver.     Lenders worry that a landlord will refuse to allow them on the business property.   If this happens, the lender may not be able to recover their collateral if there is a default.

Why do I need to get a Landlord waiver?

Example: In the vending industry

Lenders that finance multiple vending machines will not fund transactions without all of the required landlord waivers.   Lenders that finance vending machines know that if they finance 10 vending machines, those 10 machines may be in 10 different locations throughout a metropolitan area.   If the borrower defaults, the lender would have to go to 10 locations to pick up the collateral.   They also cannot simply show up at a place of business to pick up collateral.   They must also have to have permission from the owner of the property because they will be uninstalling equipment, which is considered making a change to a property.   The lessee agrees in the lease not to make a change in the property without the permission of the landlord, so the lessee must contact the landlord.

What is a landlord waiver? Are landlord waivers required for a business loan?


In the event of a default on this asset based loan lenders do not want to contact 10 different landlords.    Each landlord would have to agree to an on site repossession.    The landlords know if they agree, those business that leases space from them may go out of business.

The landlord does not want the lessee to go out of business.    The landlord may want to deny the request.

These are the reasons why lenders will ask for this when a business loan is first closed.

The SBA also offers info on small business and negotiating with landlords.

Categories
Asset Based Loan

Loan Against Equipment Video: Monthly Payments!

How to get a loan on your business equipment assets.

Get a Loan on Equipment

How to get a Loan against Equipment

How to get a loan on your business equipment assets.

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Supply: List of your Free and Clear Equipment

Tool: Desktop, laptop, tablet or phone

1: Create a List

Make a list of your free and clear paid equipment

Get pictures and info on: vehicles, rigs and semi’s, pick up trucks, construction equipment, trailers and other
Equipment.

TIP: The lender may payoff valuable pieces with a low balance

How to get a loan against equipment: make a list

VIDEO CLIP below: Make a List of Your Free and Clear Equipment:  2 Seconds –
13 Seconds in Clip below.

2: Provide Cash Flow Information

Provide your last few months bank statements to show cash flow.

Get your last few months bank statements and any other financial a lender may request.

VIDEO CLIP below: Provide Cash Flow Information:  14 Seconds – 16 Seconds in Clip below.

3: Match with a Lender

Match with a lender that offers loans against equipment.

Call and ask about amounts and Terms

Match with a lender that makes loans against equipment

VIDEO CLIP below: Match with a Lender:  17 Seconds –
21 Seconds in Clip below.

4: Apply

Apply and get your best chance for approval by working closely with a rep.

Apply

VIDEO CLIP below: Apply:  22 Seconds –
25 Seconds in Clip below.

5: Complete

Close the transaction and gather all closing items: Proof of ownership, titles, pictures or more.

TIP: Low credit scores O.K.

Finish by signing the contracts and getting funded.

close the transaction

VIDEO CLIP below: Complete:  26 Seconds –
33 Seconds in Clip below.

With a loan against equipment a business can get working capital.

In a loan on equipment or vehicles, the owner keeps the equipment or vehicles and retains ownership when it is paid off.

This asset based option is often used as one way to get a large business loan Or Call us at 919-771-4177.

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Or Call 919-771-4177 for more info.

Qualifying equipment includes many types of construction and industrial equipment, business and commercial business vehicles. This includes tractor trailers, big rigs, commercial vehicles and semi -trucks.    Is your truck down?  Find out more about a truck repair loan here. You can even get a loan on a trailer!   Low credit scores down to 500 and below may qualify.

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Call 919-771-4177 for more info.

FAQ Frequently asked questions on a loan against equipment or vehicles.

What is a loan against equipment?
A loan on equipment lets businesses use the equipment or vehicles they own outright to qualify for a business loan. Borrowers can get a loan against construction equipment as well as tractor trailers and semi-trucks. Other qualifying assets include business vehicles and some types of machinery. The approval process is usually one or two days and the collateral stays on your property.

How much can I get?
You can get up to 60% against the current retail value of qualifying pieces. If your equipment has higher than market value, then provide documentation to prove the value from upgrades or customization.

How do put a value on the pieces?
Asset value data is used for each equipment type. The prices of comparable pieces on sale through industry leading vendors and suppliers may be used.

How old can my assets be?
Most trucks can be up to 8 years old. More than 8 years can still be funded with reduced approvals. Construction pieces and machinery can be older depending on the type, manufacturer, model and age.

Do I need to have proof of ownership?
Proof of ownership will be needed. Title, registration or bill of sale can be used for proof of ownership. Proof of purchase may also be needed and can be a paid invoice, loan or lease payoff letter, or bank proof of payment.

Can you take trucks or cars as collateral?
Free and clear trucks or cars including big rigs, semi trucks, OTR over the road tractor trailers, dump trucks, and vans may be used as security. Standard trailers such as big tex and gooseneck can be pledged. Cars, trucks and passenger vehicles may qualify if they are used partially for business.

Cnc milling machines, 18-wheelers, rigs, tractor  trailers qualify.   Machine tools may also bring significant working capital.

Construction equipment such as front end loaders, bobcats, skid steers, bulldozers, ditch witches, woodworking equipment, semi trucks, 18 wheelers, tractor trailers may also qualify.

Your business makes money by using equipment rather than owning it.   Get the unused cash in your equipment and use it for cash flow in your business.

Business loan programs are open, approving and funding small business loans on construction equipment, some large machinery, commercial vehicles, big rigs, semi trucks, Over the road tractor trailers OTR, vans, dump trucks, and even trailers such as gooseneck trailers during Coronavirus covid-19.

Submit the one page loan against equipment application and also the equipment list . Decisions are usually made in 1 day.   Funding happens within five business days.   $150,000 total funding is available.

Tell us the type of loan you are looking for.   Callers ask for different types of loans, including a loan against construction equipment.   Others ask for a loan on equipment using their construction assets.  Some callers request a loan on machinery.

Underwriting reviews the age and condition of the equipment.  Complete the equipment list.  Use the most valuable and newest equipment on hand.   Older equipment may qualify.  This includes trucks and tractors.   Through this loan against equipment, loans against a tractor-trailer is approved.  It is also called a loan against an 18 wheeler as well as a loan against semi-trailer truck.   Other products are a loan against a big rig, and loan against a semi truck.

Top 7 vehicles to get a business loan against: 
1  Commercial Vehicles
2  OTR Over the road trailers
3  Big Rigs
4  Semi Trucks
5  Dump Trucks
6  Trailers
7  Vans

The following are examples of equipment and vehicles that can qualify under the program!

1. Cat 314ELCR
2. Cat TL943
3. Doosan DX 300LL-5
4. Ford F250XL and Ford F350XL
5. Ford F450
6. John Deere 225DLC
7. Kenworth T370

Thank you for visiting our loan against equipment resource page.