Conventional Heavy Construction Equipment Financing And Leasing
- Date: 2009-07-30 - Word Count: 518
Share This!
Conventional heavy construction equipment financing and leasing is still available in today's financial markets. In this article, we are going to address some application only programs that are available up to $75,000 and full documentation packages up to $250,000.
In today's market, many lenders have either run out of money to lend, or must liquidate their off lease inventories to generate working capital or are no longer in business. This economic crisis has affectedincluding banks and lenders. everyone
The available programs described here include you locating your own heavy construction equipment and bringing to a conventional lender for financing The requirements for application only programs up to $75,000 are the following:
A Credit requires the following: 5 years TIB (time in business) under current ownership 700+ credit score B Credit requires the following: 2+ years TIB (time in business) under current ownership 650-700 credit score
The rates on A and B paper will be slightly different.
Additionally, a filled out lease application dated and signed by the owners and summary page of the last three months business bank statements will get the lending process started. A copy of an invoice, purchase order etc would be required from the qualified dealer. Additionally, other information might be required but this is taken on a case by case basis.
For financing up to $250,000, these are the following requirements: 5 years TIB (time in business) under current ownership Full Financial Package is required will ALL applications 675+ credit score Low 5 Average bank balance with no NSF's or Overdrafts Additionally, the details of this program is listed below
if a Corporation of any kind)
1. 2 current years corporate tax returns (COMPLETE WITH ALL SCHEDULES AND ATTACHMENTS) 2. Last 2 years profit & loss statements 3. Last 2 years balance sheets 4. Year to date profit & loss statements 5. Year to date balance sheets 6. 2 current years personal tax returns for ALL owners (COMPLETE WITH ALL SCHEDULES AND ATTACHMENTS) 7. Current signed and dated personal financial statements for ALL owners 8. COMPLETE application with ALL owners information and signatures
(if a Sole. Prop.)
1. 2 current years personal tax returns (COMPLETE WITH ALL SCHEDULES AND ATTACHMENTS) 2. Current signed and dated personal financial statements 3. Last 2 years profit & loss statements 4. Last 2 years balance sheets 5. Year to date profit & loss statements 6. Year to date balance sheets 7. COMPLETE application with ALL owners information and signatures
Once again, a signed and dated lease application would be required to get the financing process started. A copy of an invoice, purchase order etc would be required from the qualified dealer. Additionally, other information be might be required but this is taken on a case by case basis.
This application only and full documentation program would apply to following types but not inclusive types of construction equipment:
Backhoes, excavators, bulldozers, wheel loaders, skid loaders, tractor, concrete mixer, concrete pump, compactor etc
Examples of heavy construction equipment could be manufactured by John Deere, Case, Caterpillar, Komatsu, Kobelco, Hitachi, Hyundai etc
Happy hunting for your heavy construction equipment acquisition and its related financing
In today's market, many lenders have either run out of money to lend, or must liquidate their off lease inventories to generate working capital or are no longer in business. This economic crisis has affectedincluding banks and lenders. everyone
The available programs described here include you locating your own heavy construction equipment and bringing to a conventional lender for financing The requirements for application only programs up to $75,000 are the following:
A Credit requires the following: 5 years TIB (time in business) under current ownership 700+ credit score B Credit requires the following: 2+ years TIB (time in business) under current ownership 650-700 credit score
The rates on A and B paper will be slightly different.
Additionally, a filled out lease application dated and signed by the owners and summary page of the last three months business bank statements will get the lending process started. A copy of an invoice, purchase order etc would be required from the qualified dealer. Additionally, other information might be required but this is taken on a case by case basis.
For financing up to $250,000, these are the following requirements: 5 years TIB (time in business) under current ownership Full Financial Package is required will ALL applications 675+ credit score Low 5 Average bank balance with no NSF's or Overdrafts Additionally, the details of this program is listed below
if a Corporation of any kind)
1. 2 current years corporate tax returns (COMPLETE WITH ALL SCHEDULES AND ATTACHMENTS) 2. Last 2 years profit & loss statements 3. Last 2 years balance sheets 4. Year to date profit & loss statements 5. Year to date balance sheets 6. 2 current years personal tax returns for ALL owners (COMPLETE WITH ALL SCHEDULES AND ATTACHMENTS) 7. Current signed and dated personal financial statements for ALL owners 8. COMPLETE application with ALL owners information and signatures
(if a Sole. Prop.)
1. 2 current years personal tax returns (COMPLETE WITH ALL SCHEDULES AND ATTACHMENTS) 2. Current signed and dated personal financial statements 3. Last 2 years profit & loss statements 4. Last 2 years balance sheets 5. Year to date profit & loss statements 6. Year to date balance sheets 7. COMPLETE application with ALL owners information and signatures
Once again, a signed and dated lease application would be required to get the financing process started. A copy of an invoice, purchase order etc would be required from the qualified dealer. Additionally, other information be might be required but this is taken on a case by case basis.
This application only and full documentation program would apply to following types but not inclusive types of construction equipment:
Backhoes, excavators, bulldozers, wheel loaders, skid loaders, tractor, concrete mixer, concrete pump, compactor etc
Examples of heavy construction equipment could be manufactured by John Deere, Case, Caterpillar, Komatsu, Kobelco, Hitachi, Hyundai etc
Happy hunting for your heavy construction equipment acquisition and its related financing
Related Tags: construction equipment financing, heavy construction equipment financing, bulldozer equipment financing, heavy construction equipment leasing
J.M Luna has over thirty years experience in the financial field. This includes accounting and taxes, leasing, hard asset money and commerical lending. U.S Corporate Capital Leasing assists the start up as well as the seasoned business for financing in all different industries...www.cclgequipmentleasing.com/lease_construction.htm Your Article Search Directory : Find in Articles
Recent articles in this category:
- Equipment Leasing- Benefits And Pitfalls
Talk of business growth and profits, the two most essential elements that come into picture are equi - Buy A Car Or Lease A Car?
It's the classic dilemma that faces every auto-consumer out there: Pay cash upfront or forgo the own - Essential Information For Equipment Leasing And Finance
Are you planning for to get equipment finance for your business?This article presents essential info - The History Of Roops Mill
The Spa at Roop's Mill is the only full service private day spa in Carroll County. It is located in - Lease Agreement Forms: Is Your Rental Lease Agreement Airtight?
Lease agreement forms are the heart and soul of every tenancy - They decide the rules of your lease - Leasing Retail Space - Location Facilities And Future Development
Parking Research whether the retail space you are considering has adequate parking. Consider both th - Live In The Lap Of Luxury With Luxury Car Leasing
Many businesses and corporate persons opt for car leasing and used car leasing when deciding on an a - Is It Advisable To Consider Sale-leaseback Financing?
Many business owners and financial managers are often faced with the consideration of utilizing a sa - Equipment Leasing - Information About How To Use It For Funding Resources For Your Firm
If you're interested in equipment leasing agreements then it should not be tough to source an applic - Your Most Important Negotiation
No single element has to be more right than your rent. Getting locked into an expensive lease straps
Most viewed articles in this category:
- Commerce Michigan Real Estate: Buy A Home On A Lease Option And Stop Wasting Money On Rent
Many Commerce Michigan real estate owners and wanna be homeowners are facing real problems. The num - Fractional Ownership And Flexible Renting - Second Homes With A Social Conscience
Many people who consider buying a second home (or vacation home) face a dilemma. Even if you can a - How To Qualify For An Equipment Lease
Unless you are a large corporation, you will have to personally guarantee your lease and your credit - Using A European Lease To Purchase A Boat
If there is a single concept which has revolutionized the car industry in recent years, it is the id - Mastering the Art of Lease or Rental Agreement
Before mastering the art of lease or rental agreement, one has to understand the basics of it. A lea - Lease Options: Turning Renters to Partners
Lease options which turn renters into partners is a means for people who cannot afford a huge down p - Investing In Las Vegas
Las Vegas is a famous tourist spot. It is all the more famous and popular for legalized gambling in - What To Do If Your Tenant Goes Into Rent Arrears
Although you might have some great tenants in your property, there is no way to predict whether or n - Finding an Office Space in Manhattan
Finding an office space in Manhattan seems like a very hard task, and as everything else in the real - Learn About The Lease with Option to Purchase agreement for Michigan
A lease with option to purchase agreement for Michigan is becoming widely sought after as slack hous