In today's used semi truck, big rig and over the road trucks market, there are special financing programs that require no money, little and low money down to commence a financing arrangement. This one special program is in the South East part of the U.S and will do this for qualified applicants for a 0 documentation fee
Here are the requirements below for the semi truck financing program..
1) Minimum Credit Scores start as low as 550 however the higher the better to qualify for this program
2) A signed and dated lease application
3) Summary page of your last three months personal and/or business bank statements
The more money showed in the account at the end of each month the better
4) A hauling reference showing who you will lease on to or proof a good solid contract to prove income
5) No outstanding child support issues on the credit report
6) If there is a bankruptcy, it should have discharged three years or longer and proof of re-estabishing credit
7) Home ownership is a plus but not mandatory
8 ) No way of line debt ratios and/or line items on the credit that will cause a problem
9) No outstanding tax liens..
This dealer/lender has over 200 semi trucks, big rigs and over the road trucks for sale. These semi trucks are ready to go and the process to get approved is fast. Prior years tax returns are not usually required but a working spouse can only help support the income base to assume new debt.
The semi trucks that the qualified dealer has are from 1999 to 2008 and include Peterbilts, Kenworths, Freightliners, Volvos, Macks and Internationals..
The dealer/lender will work with startups and understands that each situation stands upon its own merit with its own story
.
If you are interested, contact me at 800-760-6863 or email me at
In addition, this dealer/ lender has over 100 trailers as well to go with the semis..These trailers include reefers, dry vans, low boys, drop deck, end and bottom dump, and other various trailer models.
If you don't qualify for this special financing, other dealer truck programs are still available to you. We even have a no credit check program that starts with a down payment with a special easy lease application... Call for the Details....
Happy hunting for your semi, big rig and over the road truck financing.
Showing posts with label Financing. Show all posts
Showing posts with label Financing. Show all posts
Tuesday, November 13, 2012
Thursday, August 9, 2012
PO Funding is the Perfect Financing Alternative to Commercial Loans
What is purchase order funding and why is it a perfect alternative to commercial loans? We will discuss that briefly in this article.
When businesses and/or companies have received a large order and is under capitalized or when their cost of goods exceeds their current line of credit, they need a reputable factoring company to fund them. Yes, commercial loans are a famous financing alternative. However, commercial loans have too many requirements and take so long to process. Let's compare and weigh the benefits of purchase order funding to that of a commercial loan.
1. Purchase order funding makes closing big sales so easy! In addition, it will be able to finance the large-scale orders of your customers. As for commercial loans, you get no chance to proceed with taking and doing your clients' orders unless you obtain your loan approval. A commercial loan is taxing your business by the possibility of losing your clients!
2. Purchase order funding does not evaluate you through your corporate accomplishment (equity, tax returns, etc.). Even startup and young but promising companies can run to a factoring company when they need immediate cash. In a commercial loan set-up, your company will have to accomplish numerous forms so that the lending company could proceed with evaluation. It does not end there; they also turn you down if you're just a small company. They look at your corporate size as a risk. In short, they fear you would not pay!
3. Purchase order funding can support and financially provide for the demands of your local and/or foreign suppliers. This is because your purchase order is treated as collateral. Hence, the factoring company is certain that everything will fall into place and that your business is worth supporting. Commercial loans do not pay your suppliers. If you get your loan application approved, you can pay your suppliers. The question is will the loan approval be as swift as that provided by a factoring company? We don't think so.
4. The factoring company will help you make sure that your sales will increase because of purchase order funding. They do not bombard you with big interest rates than lending companies do. A factoring company has minimal service fees.
5. Purchase order funding is swift! If you noticed, the previous paragraphs keep reiterating the tedious paperwork and waiting you go through when you seek loan from a lending investor. Commercial loans take your patience to the core that you now feel unsure of the growth of your business. The process of PO funding will take hours, not days.
When businesses and/or companies have received a large order and is under capitalized or when their cost of goods exceeds their current line of credit, they need a reputable factoring company to fund them. Yes, commercial loans are a famous financing alternative. However, commercial loans have too many requirements and take so long to process. Let's compare and weigh the benefits of purchase order funding to that of a commercial loan.
1. Purchase order funding makes closing big sales so easy! In addition, it will be able to finance the large-scale orders of your customers. As for commercial loans, you get no chance to proceed with taking and doing your clients' orders unless you obtain your loan approval. A commercial loan is taxing your business by the possibility of losing your clients!
2. Purchase order funding does not evaluate you through your corporate accomplishment (equity, tax returns, etc.). Even startup and young but promising companies can run to a factoring company when they need immediate cash. In a commercial loan set-up, your company will have to accomplish numerous forms so that the lending company could proceed with evaluation. It does not end there; they also turn you down if you're just a small company. They look at your corporate size as a risk. In short, they fear you would not pay!
3. Purchase order funding can support and financially provide for the demands of your local and/or foreign suppliers. This is because your purchase order is treated as collateral. Hence, the factoring company is certain that everything will fall into place and that your business is worth supporting. Commercial loans do not pay your suppliers. If you get your loan application approved, you can pay your suppliers. The question is will the loan approval be as swift as that provided by a factoring company? We don't think so.
4. The factoring company will help you make sure that your sales will increase because of purchase order funding. They do not bombard you with big interest rates than lending companies do. A factoring company has minimal service fees.
5. Purchase order funding is swift! If you noticed, the previous paragraphs keep reiterating the tedious paperwork and waiting you go through when you seek loan from a lending investor. Commercial loans take your patience to the core that you now feel unsure of the growth of your business. The process of PO funding will take hours, not days.
Saturday, May 12, 2012
Business Financing - Alternatives To The Government Enterprise Finance Guarantee
Earlier this year the UK government introduced the Enterprise Finance Guarantee scheme (EFG). The EFG replaced the Small Firms Loan Guarantee Scheme (SFLG) with the commitment to helping small businesses raise the funds they require to trade through the current economic downturn. The EFG is based on the government guaranteeing up to 75% of the value of a commercial loan offered by a company's bank. The company's directors will normally be required to personally guarantee the remaining 25% of the loan.
Companies are still finding it extremely difficult to raise vital finance despite the government claims for the EFG scheme. According to a recent report published by the Department for Business, Innovation and Skills, in the year up until the 3rd April 2009 a total of 2,369 loan guarantees to the value of GBP 178m had been issued, under both the Small Firms Loan Guarantee Scheme and the Enterprise Finance Guarantee scheme. This figure is significantly less than the GBP 205m guaranteed in the previous year. It is also far below the scheme's GBP 360m budget set by the Government in March 2008.
For this financial year the outlook now is just as worrying. The latest Bank of England figures show that new lending to companies continued to contract in May 2009, following a fall in April. Clearly, despite the government's assurances and backing, UK banks remain extremely reluctant to provide new loan facilities for businesses. I have recently had a number of discussions with small business owners which back up this analysis. It seems common place that new loan and commercial mortgage applications with the backing of solid business plans are being consistently declined (often at the last minute) with little or no rational explanation from the lender.
Based on the current evidence it seems very much that the banking system is reluctant to back any business opportunity unless it has almost a cast iron prospect of success. This situation is certainly stifling entrepreneurial activity and thus undermining the driving force required to kick start the economy and move it out of recession.
Given this situation, business owners are well advised to consider alternative options for raising finance. Business refinancing can help in this area. Business refinancing generally involves raising cash secured against tangible business assets thus giving the bank real security and the comfort required to release funds. Examples of business refinancing include:
Asset refinancing
The process of borrowing against the value of any fixed assets which are owned by the business.
Invoice financing
The process of raising money based on a company's outstanding invoices. Invoice financing could allow a company to draw down up to 90% of the invoice value immediately on the issue of a valid invoice.
Trade financing
Enabling a business to receive up to 80% of the confirmed order value up front to pay the suppliers required to fulfil the order.
Until lending eases businesses will struggle to trade out of the current economic situation. However it seems that they are unable to rely on Government initiatives such as the Enterprise Finance Guarantee scheme to allow them to access the funds they need for expansion and growth. Unfortunately Business Refinancing will not be suitable for all. However it is certainly an option that should be reviewed by all in the current climate.
Companies are still finding it extremely difficult to raise vital finance despite the government claims for the EFG scheme. According to a recent report published by the Department for Business, Innovation and Skills, in the year up until the 3rd April 2009 a total of 2,369 loan guarantees to the value of GBP 178m had been issued, under both the Small Firms Loan Guarantee Scheme and the Enterprise Finance Guarantee scheme. This figure is significantly less than the GBP 205m guaranteed in the previous year. It is also far below the scheme's GBP 360m budget set by the Government in March 2008.
For this financial year the outlook now is just as worrying. The latest Bank of England figures show that new lending to companies continued to contract in May 2009, following a fall in April. Clearly, despite the government's assurances and backing, UK banks remain extremely reluctant to provide new loan facilities for businesses. I have recently had a number of discussions with small business owners which back up this analysis. It seems common place that new loan and commercial mortgage applications with the backing of solid business plans are being consistently declined (often at the last minute) with little or no rational explanation from the lender.
Based on the current evidence it seems very much that the banking system is reluctant to back any business opportunity unless it has almost a cast iron prospect of success. This situation is certainly stifling entrepreneurial activity and thus undermining the driving force required to kick start the economy and move it out of recession.
Given this situation, business owners are well advised to consider alternative options for raising finance. Business refinancing can help in this area. Business refinancing generally involves raising cash secured against tangible business assets thus giving the bank real security and the comfort required to release funds. Examples of business refinancing include:
Asset refinancing
The process of borrowing against the value of any fixed assets which are owned by the business.
Invoice financing
The process of raising money based on a company's outstanding invoices. Invoice financing could allow a company to draw down up to 90% of the invoice value immediately on the issue of a valid invoice.
Trade financing
Enabling a business to receive up to 80% of the confirmed order value up front to pay the suppliers required to fulfil the order.
Until lending eases businesses will struggle to trade out of the current economic situation. However it seems that they are unable to rely on Government initiatives such as the Enterprise Finance Guarantee scheme to allow them to access the funds they need for expansion and growth. Unfortunately Business Refinancing will not be suitable for all. However it is certainly an option that should be reviewed by all in the current climate.
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