Heavy Equipment Financing: How To Get It With Bad Credit | Jabar Post Indonesia/a> – This time JabarPost.Net will discuss about Loan.
The following is Heavy Equipment Financing: How To Get It With Bad Credit. And for those of you who want to find a similar explanation, you can search in the Loan category
Heavy Equipment Financing: How To Get It With Bad Credit | Jabar Post Indonesia
In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations etc. The recipient (i.e. the borrower) incurs a debt, and is usually liable to pay interest on that debt until it is repaid, and also to repay the principal amount borrowed.
The document evidencing the debt, e.g. a promissory note, will normally specify, among other things, the principal amount of money borrowed, the interest rate the lender is charging, and date of repayment. A loan entails the reallocation of the subject asset(s) for a period of time, between the lender and the borrower.
The interest provides an incentive for the lender to engage in the loan. In a legal loan, each of these obligations and restrictions is enforced by contract, which can also place the borrower under additional restrictions known as loan covenants. Although this article focuses on monetary loans, in practice any material object might be lent.
Acting as a provider of loans is one of the main activities of financial institutions such as banks and credit card companies. For other institutions, issuing of debt contracts such as bonds is a typical source of funding.
Looking for heavy equipment financing with bad credit? First Capital Business Finance offers heavy equipment financing for bad credit and other bad credit business loans with our Asset-Based Direct Lease Programs. And in this video, we’ll tell you all about it!
WHAT WE DO
While lenders typically only lend to borrowers with credit scores of 650 or higher, our exclusive sources allow us to get you the equipment financing you need at the affordable rates you deserve. We can get you the equipment financing you need at the affordable rates you deserve – even with bad credit. First Capital Business Finance knows there’s so much more to you and your business than your credit scores. We’ve helped borrowers across the board. From zero credit to credit score in the low 500’s. And we specialize in help with collections, bad credit, tax liens, and bankruptcies.
ASSET-BASED LEASE PROGRAMS
This program is specifically tailored for credit challenged business owners. This would include recent bankruptcy, tax liens, judgements, collections, and even previous repossessions. Having bad credit or no credit is no longer an issue when it comes to this aggressive asset-based program.
NO TIME REQUIREMENTS
Most bad credit business loans or equipment financing programs require a minimum length of time in business before they’ll approve you. That minimum is generally 2-3 years in business, in the same line of work you’re currently in. But First Capital is different. We can get you equipment financing even if you’re a start-up. We offer financing to both long-standing businesses and brand-new start-ups. Even if you’ve only been in business for one day, First Capital can help you get equipment financing for bad credit fast.
All you need is your bank statements! It can’t get any easier than this. Our proof of income requirements only need your business bank statements for the past 3 months. That’s right: no tax returns, income statements, balance sheets. No endless mounds of paperwork. All that’s required to get an approval is the last three months of business bank statements. If you would like additional working capital, just submit an additional 3 months bank statements and we can get your business the extra capital.
WHY SO EASY?
A low credit score doesn’t necessarily mean you’re not trustworthy, nor does it mean you don’t deserve financing. Lenders can often ignore challenging credit if you get a cosigner, offer some sort of collateral, make a security deposit or down payment. Or if you prove your business is strong, with good profit and revenue. This is an asset-based program. This means there needs to be extra collateral that can be used to cross collateralize with the financing that is being offered. Or there needs to be a substantial security deposit made.
EQUIPMENT YOU WANT
You don’t have to settle for less with First Capital. Both NEW and USED equipment are eligible for equipment financing with bad credit! Other eligible equipment includes commercial Trucks, Trailers, Heavy Equipment, Agriculture, Yellow Iron and Construction Equipment.
This is by no means an exhaustive list. We finance almost anything and we offer an extensive range of bad credit business loans! Don’t let your credit score keep you from running your business. It’s easy to pre-qualify for equipment financing with bad credit or for that matter any other bad credit business loans. Simply call First Capital at 888-939-1036 to speak with one of our advisors or contact us online. And if you enjoyed this video, be sure to like, comment and subscribe!
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