collateral

What Is Additional Collateral Equipment Financing:

Additional collateral financing is also known as asset based lending. If you have bad credit or damaged credit then most lenders will not lend you money because of your past payment probelms or current credit report problem areas. Thus, all credit based lenders are basically off the tabe for you if you have damaged credit or bad credit. This leaves what is known as asset based lending. Asset based lenders are more interested in the collateral you will be putting up rather than your past credit history.

 

If you have good collateral which is normally good equipment that you own that is 10 years old or newer or equity in real estate then many times you can obtain the equipment you need. This type of financing is more expensive than traditional credit based lending.

How Does Asset / Collateral Equipment Financing Work?

To obtain asset based or collateral financing you will pledge not only the equipment you are buying but additional collateral that you own to ensure that the lender will be made whole should the lease or loan not be paid. To begin the process we will first obtain a credit report to ensure that you do not qualify for credit based equipment financing. We will then ask you for a list of equipment that you own or determine if you have other collateral such as equity in real estate that you wish to pledge.

 

Lending Amount & Term General Information For Collateral Based Financing:

checkbox Financing Amounts From $20,000 To $1,000,000

checkbox Easy Application Process

checkbox Typical Term Financing Options Of 12 to 60 Months

checkbox Quick Response Time! Typically In 24 Hours

checkbox Leases or Loan Financing Available

 

 

Who Are The Best Candidates For Asset / Collateral Financing?

 

Individuals that have been in business for awhile with some credit issues but have collateral and really need equipment to handle new business or to get new contracts.

 

This recession has really hit many companies. Many individuals have had no choice but to space out payments and do anything else they have had to do to hang on. Unfortunately these late payments kill your credit report. Collateral equipment financing is meant for companies where the owner has gone through this credit crunch and has ended up with bad credit. Even though your credit has been hit you now have work and you absolutely need equipment. By pledging additional collateral many times you can obtain financing.

Required Documentation To Apply:

Fax The Items Below To 614-777-0001 To Apply For Collateral Based Financing:

Financing Application

3 Months Bank Statements

Listing Of Additional Equipment For Collateral

 

If you have damaged credit or bad credit but have plenty of collateral then collateral based financing may be the solution for you! Call a collateral based financing specialist today 888-595-4422.

print application  apply online  view repo inventory

 

Additional Collateral Equipment Financing

 

If your credit is damaged or you know that you have bad credit and need equipment financing then many times we can arrange the financing if you can pledge additional collateral. Collateral for equipment financing can be:

 

Similar Equipment To What You Are Buying

Stocks

Bonds

checkbox Certificates Of Deposits

checkbox Equity In Real Estate

 
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