If you are looking to start up and/or expand a business,
finding capital is always one of the most difficult adventures the
entrepreneur 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 unique opportunity for the individual
and/or business to utilize very little front money and acquire financing
up to $250,000, application only. An application only means there are no
financial statements, income tax returns, personal financial statements
and bank statements required. The collateral of the acquisition and your
good credit is the key to this approval, no additional collateral is
required.
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 unstable, this opens up a
unique opportunity for dealer financing with small and large U.S 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 unstable economy and a shrinking labor pool, this offers
an unique opportunity for the start up business and the seasoned one as
well.
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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 400 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 acquisition 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 acquisition. 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...
One of the additional features of this dealer/finance program is that
shipping to your location is an additional option for you. The location
of the dealership is in the Midwest. The decision that you have is
whether you want to fly out and inspect the acquisition and drive it
home. The other option is that the dealer can have it shipped to where
you live. This additional charge can be financed, however requires some
additional front money, the decision is yours whatever is best for
you.
In conclusion, whether you are a start up business or a seasoned one,
there are many leasing programs available. You should be careful and
understand the details behind the lease and the lender requirements. Many
banks and lenders also offer repos and off lease commercial vehicles and
heavy equipment for lease with advantageous terms. Check it out and find
yourself a deal.
Happy hunting for your acquistion and related financing...