If you are looking to start up and/or expand a business, finding capital is always one of the most difficult adventures the entrepeneur will encounter. Two key components to the financing side is the credit qualifications and the amount of money required either to start up and/or expand the operations.
One of the solutions, that I can offer to you in a leveraged world is the concept of leasing. Leasing is an opportunity for the individual and/or business to utilize very little front money and acquire financing anywhere up to $250,000, application only. An application only means there are no financial statments, income tax returns and personal and bank statments required. The collateral of the acquisiton and your good credit is the key to this approval.
In this equation, you must asking yourself what good credit is, a personal credit score of 680, 700 and maybe 725 or higher. In this imperfect world where the economy is somewhat shaken, this opens up a unique opportunity for dealer financing with small and large lenders. One particular program offers the start up and seasoned business an unique opportunity where the minimal personal credit must be 575 or higher. Wow, are you kidding and no bankruptcies discharged within five years. With an economy of a shrinking labor pool at various levels. this offers an unique opportunity to the start up business and the seasoned one as well.
You probably asking what the catch to this is? Really none except this is a dealer financed inventory and you must select the items out of the lender's inventory. This inventory includes approximately 300 work trucks, trailers, and construction equipment. These items range from basically new to ten years old and all items are reconditioned prior to being re-leased. The front money on these deals, at this time of year, range from 3-5% of the acquisiton cost and financing up to 60 months. Wow! All of the dealer financed inventory has residual buyout clauses at the end of their leases from ten to twenty percent, Therefore you can take title to the acquistion. If you don't have the funds available at the end of the lease, the lender permits you to continue making payments on the residual until it is paid off, so either way you will take title to the item financed.
Examples of what is in the dealer financed inventory: dump trucks, over the road trucks, day cabs, garbage trucks, landscape and grapple trucks, flatbed trailers, dry van and reefer trailers, backhoes, excavators, dozers, forklifts etc
Check out my website and see how easy we can assist you with this special dealer finance program. Additionally, we have other lending programs besides the one described in this article which also includes different industries.
Thanks.........Rick
