Q. What is collateral based financing?

A. Collateral based financing or asset based lending is a form of finance that allows the borrower to use an asset that has value in order to secure a financing transaction.  This type of financing is higher risk for the lender, the primary funding decision will be based on the value of the collateral being used to secure the funding not credit scores.

Q. What if my credit score is low?

A.  Our primary lending decision will always be based on the collateral being used to secure the transaction, not a credit score.  That is why we can help businesses with issues such as bad credit, past bankruptcy, judgments and tax liens, or whatever other credit challenge you may have.  Banks and Dealers are not lending to businesses with even good credit in this economic environment.

Q. What are the interest rates?

A.  In general higher risk transactions will have higher interest rates due to the risk. We provide funding to those who cannot get approved through more traditional methods.  In order to determine the terms, we must have an application along with the collateral list being used to secure the funding.  If there is more collateral the rates will be lower.  Once we have an initial approval, we will know what the payment terms are and then have an idea of what the interest rate will be.  Without the collateral list and application we cannot determine the rate.

Q. What are the terms?

A. Depending on the collateral being used to secure the funding, the amount of funding needed and other variables we provide programs that go all the way to 60 months.

Q. How do you get 24 to 48 hour approvals?

A.  There is a market to value the equipment being used as collateral to secure the funding.  We specialize in heavy use and construction equipment that allows us to determine initial approvals fast.

If you need working capital, lease or purchase heavy use and construction equipment contact us today.  We can help. 800.971.2811