(888) 912-6615
FAQ's
Does it cost to get financing through you?
We never charge our clients for arranging funding. Our payment comes from the lender once your funding is secured.
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What's included in the free Custom Funding Plan?
Your free funding plan will cover the best types of loans for your business and industry, what our Funding Specialist thinks you're most likely to qualify for, based on years of experience. We'll also provide you a list of the required documents need to apply, and more information related to your specific situation.
Will Pre-qualification impact my credit?
We only do a soft credit pull so we can get an idea of where you're currently at regarding your credit profile. If you choose to accept the terms of a loan with a lender, they may perform a hard inquiry, which could have a small, temporary impact on your credit.
What types of Loans do you offer?
o Equipment (loan, or lease)
o Working Capital
o Personal Loans
o Startup Funding
o Venture Equity Capital
o Stock / Equity Loans
o Consumer financing
o Merchant Cash Advance
o Invoice Factoring / Accounts Receivable Financing
o Commercial Real Estate
o Investment Real Estate | Fix & Flips
o Business Lines of Credit
o Term loans (both long and short)
o Hard Money
o SBA Loans
What types of equipment do you finance?
We help business secure financing for new or used equipment in the following categories daily:
• Commercial Laundry & Dry Cleaning
• Construction Trucks, Tractors, Equipment and Machinery
• Equipment for: Chiropractic, Dental, ER, Home Healthcare, Veterinary, Vision & Lasik, Imaging, and more.
• Farm Trucks, Tractors, Equipment and Machinery
• Fitness and Workout Machines
• Forklifts and other Material Handling Equipment
• Industrial Equipment and Machinery
• Logging Equipment
• Manufacturing Equipment
• Restaurant, Bakery and Kitchen
• Tow trucks and wreckers
• Water and Oil drilling and refining Equipment
Other Commercial Vehicles:
o Airplanes
o Bucket trucks
o Buses
o Cab over trucks
o Car Carrier trucks
o Concrete trucks
o Delivery trucks & sprinter vans
o Dump trucks
o Garbage/recycling trucks
o Helicopters
o Limousines
o Logging trucks
o Long haul and over the road trucks and trailers
o Septic trucks
o Service trucks
o Trailers
o Water trucks
Don't see what you're looking for? Ask if we can find you financing! We love a challenge. [email protected] (888) 912-6615
What is needed to qualify for a Business Loan?
We have programs for all credit types; established businesses, and startups. Qualification criteria vary depending on your industry and the type of financing you're seeking.
Working capital in most industries would only require our 3-minute application, 500+ FICO score and 4–6 months of business bank statements.
Equipment financing for most industries only requires our 3-minute application, 500+ FICO score, 4–6 months of business bank statements and the invoice or purchase order from the vendor you're purchasing the equipment from (if under $750,000).
To get an SBA loan, you'll need to provide comprehensive documentation and meet specific criteria.
Here’s an overview of what is typically required:
General Eligibility Requirements Credit Score: Generally, a strong credit score (typically 680 or above).
Business Plan: A detailed business plan outlining how the loan will be used and how it will benefit the business.
Collateral: Sufficient collateral to secure the loan.
Down Payment: Depending on the loan program, you might need to provide a down payment (usually 10-20%).
Personal and Business Credit Reports: Authorization to pull credit reports for all principal owners.
Personal Background and Financial Statements: Personal financial statements and background information on all principal owners.
Business Financial Statements:Profit and Loss (P&L) statements Balance sheets Cash flow statements
Tax Returns: Personal and business tax returns for the past three years.
Resumes: Resumes of key management personnel.
Business Licenses and Permits: Copies of business licenses and registrations required for the business to operate.
Loan Application History: Documentation of any loans you have applied for in the past.
Leases: Copies of business leases or deeds for the property being used as collateral.
Documents:Articles of incorporation or organization Partnership agreements, Franchise agreements (if applicable), Contracts and other agreements (if applicable)
Debt Schedule: A detailed schedule of all current business debts.
Specific SBA Loan Requirements
SBA Form 1919: Borrower Information Form.
SBA Form 413: Personal Financial Statement.
SBA Form 159: Fee Disclosure and Compensation Agreement.
SBA Form 912: Statement of Personal History (for each owner with 20% or more interest in the business).
Use of Proceeds: Clearly outline how the money will be used, whether for purchasing equipment, working capital, refinancing debt, purchasing real estate, etc.
Management Experience: Demonstrating relevant experience in the industry.
Market Analysis: Evidence of a viable market for your product or service.
Repayment Ability: Demonstrating the business’s ability to repay the loan through cash flow projections.
Do you finance Used Equipment?
Yes, we have great options for financing both new and used equipment.
Limitations apply based on equipment type, current value and remaining useful life of the equipment.
Do I have to buy from a dealer / vendor, or can I buy from a private party?
You can buy from either a dealer or a private party.
We often fund private party transactions.
While financing equipment through a dealer can be simpler, private party transactions can save you from paying dealer fees and markup.
What is needed to qualify for Equipment Financing?
We have programs for all credit types; established businesses, and startups. We can generally fund any equipment that is $750,000 or less with only an application, 4–6 months of business bank statements, and the Invoice from the vendor you’re buying the equipment from. Items over $750,000 require additional revenue verification and a few extra days to process.
How large of a down payment is required for Equipment Financing?
Usually, zero down.
Some industries or equipment types will require first or first and last payment in advance;
collateral-based and larger-down programs apply for customers with credit issues.
Do you offer Leaseback Options?
Yes!
How It Works:Secured against current equipment
Criteria: Equipment Value of 2:1
Down Payment: First payment in advance
Loan Amount: $5,000 to $250,000
Financing Options: Equipment Finance Agreements or Sale Leasebacks
Structure: Low monthly payments
Terms: 18 to 36 Months
What equipment financing / lease options are there?
• Equipment Finance Agreement with no residual at end of term
• Lease with a $1.00 buyout, built-in residual, fair market value (true) lease, or 10% residual at end of term
• Term Structure: 12 to 84 months. 240+ months possible on Aircraft.
Do you offer working capital loans?
All-day-long!
Working capital is typically the easiest financing to obtain and can be funded as quickly as same day.
Apply at expressbizcapital.com/apply