Call Us Today! 1-913-601-5000|info@entegracapital.com
Loading...
FAQ’s2019-05-10T18:24:29+00:00

You have questions? We have answers.

 

Contact Us

GENERAL PROGRAM FAQ

Do You Market to Vendors?2019-04-03T17:59:45+00:00

No. We are a broker-dedicated funding source. All of our new business strategies, products and resources are committed to increasing and supporting the business we receive from brokers. Should a vendor contact us, we first check to see if they have sent applications via one of our brokers. If they have, we match them back to our broker. If the vendor has not sent applications to Entegra Capital via one of our brokers; or is unwilling to continue to work with their previous broker,  we match them with another qualified broker in our program.

Will You Finance Items Not on Your Approved Asset List?2019-04-03T18:20:07+00:00

Entegra Capital specializes in financing trucks, trailers, construction, aviation ground support and agricultural equipment for a broad range of credits. We are able to offer aggressive programs because of our familiarity with the types of equipment we finance. Because of this, Entegra Capital only finances those assets on our Approved Asset List.

Do You Give Special Pricing to Top Accounts?2019-05-16T19:29:56+00:00

We value all of our broker partnerships, both large and small. Currently, we do not offer special pricing to any broker.

Will You Finance Equipment Sold at Auction?2019-06-10T16:21:00+00:00

Given our requirement to inspect and install GPS units on all assets prior to funding it is challenging for us to finance auctioned assets, so as a general rule no.

Do You Hold Your Leases or Sell Them Off?2019-05-16T19:32:34+00:00

Entegra Capital is a full-service funding source, meaning we hold and service all of the leases we finance. You can be confident that you, as well as the lessee, will still be able to contact Entegra Capital for information anytime during the term of the lease.

Can We Do Our Own Docs?2019-05-10T18:37:29+00:00

At this time, Entegra Capital generates all lease documents and sends them to you via email as a PDF.

Document delivery via DocuSign may be an option in the future.

Do You Require Broker Recourse?2019-04-03T19:00:04+00:00

Entegra Capital’s credit model is extremely accurate in its predictions. As it relates to credit worthiness, once the transaction has funded we assume all responsibilities. We may ask the broker to become involved in some circumstances, but that is a rare occurrence.

What Do Your Fees Cover?2019-04-03T20:02:59+00:00

Our non-refundable documentation fee of $595 recovers a portion of the costs associated with managing transactions. These costs include our staff’s time, asset re-marketing, technology development, and acquiring the business and personal credit information of the applicant.

Our non-refundable inspection fee of $250 recovers part of the cost of the asset inspection and installation of the GPS unit.

Will You Guarantee Me Vendor Exclusivity?2019-05-16T19:37:23+00:00

We believe that vendors and end-users choose the financing source that best meets their needs. Entegra Capital avoids becoming involved in your vendor and client relationships, including dictating which broker they must use to access our products. Entegra Capital will never directly compete for financing business from your vendors or end-users.

Will You Finance Soft Costs Like Shipping or Maintenance?2019-04-03T20:10:15+00:00

Because of the broad credit range that we approve, and therefore the risk that we accept, we cannot finance monies not backed by the collateral of the transaction – which includes soft costs.

How/When Are Commissions Paid?2019-05-16T19:38:35+00:00

Broker commissions are paid at the same time the vendor is funded. Commissions can be paid via wire transfer or by overnight delivery.

Do I Need to Pull Credit?2019-05-16T19:39:40+00:00

While you are encouraged to vet your prospective customer’s credit profile, Entegra Capital does a hard pull with Experian on each guarantor on the application. We are required to do our own credit pull, even if the broker submits theirs with the application.

What is Your Early Payoff Policy?2019-04-03T20:19:00+00:00

There is no pre-payment penalty on Entegra Capital leases. For payoff quotes lessees should contact Entegra Capital’s Customer Service Department at (913) 601-5000.

Do You Require U.S. Citizenship?2019-05-15T20:50:48+00:00

No, Entegra Capital does not require a lessee to be a U.S. Citizen.

Can Broker Doc Fees Be Added To The Approval?2019-06-11T18:47:52+00:00

We cannot add your additional doc fees to our approval form; however, you may create your own approval (based on ours) and include your additional doc fees in the approval you create and present to your customer.

If we collect your additional fee, we will add it to your commission at funding. If you collect our doc/inspection fees we can short fund your commission at funding.

Note: We will still need proof of payment from the lessee to you prior to funding.

GENERAL CREDIT FAQ

Do You Do Inspections? Do You Install GPS Units?2019-05-16T19:44:02+00:00

Yes, Entegra Capital performs inspections and installs GPS units on all assets prior to funding.  We charge a $250 inspection fee per location to help offset some of the expense. Inspections should generally be scheduled 48 hours prior to anticipated funding.

If we are financing multiple assets, and they are all in one location, then only one inspection fee is charged.

If we are financing multiple assets, and they are at different locations, then a fee of $250/location will apply.

Do You Have Any Limits on Miles or Hours?2019-05-16T19:53:06+00:00

Max mileage for heavy duty trucks: 650,000

Max mileage for medium duty trucks: 400,000

Max hours for reefer units: 16,000

Max hours for yellow iron: This is determined on a case by case basis

Note: We only finance full-sized equipment (construction/yellow iron) with a minimum weight is 22,046 lbs.

 

Which Bureau Do You Pull?2019-05-16T19:54:55+00:00

Entegra Capital does a hard pull with Experian on each guarantor on the application. We are required to do our own credit pull even if the broker submits theirs with the application.

In addition, we perform a background check on all applicants. We do not finance any applicant with a felony conviction; therefore a felony on the background check will produce a decline.

What Are Your Hard-No’s?2019-05-10T00:53:07+00:00

FICO below 600

Felony record

Bankruptcy discharged 3 years or newer

Asset not included on Approved Asset List

What is Required for Credit Review?2019-05-16T20:00:56+00:00

We are true app-only to $250K.

We do not consider/require:

Home ownership
Bank statements
Tax returns

We do need:

All information needed for submission can be found on our Application Submission Checklist.

Are Down Payments Required?2019-05-10T01:02:43+00:00

Yes – we require all lessees to have some investment in the asset, so there will be a down payment requirement which will usually range from 5% – 20%.

All down payments are made to the vendor in the form of a cap cost reduction.

How Many Points Do You Allow?2019-05-10T01:10:49+00:00

Up to 10 points are possible for most deals. Some deals in the lower credit spectrum or other special circumstances may max out at 6-7 points. Our credit department will usually default to including 6 points unless you have specified how many points you want included in the structure of the approval. This can be accomplished in a few ways:

  • You can default each app to XX points for every deal you submit. You can always request a different number for individual apps upon submission.
  • You can ask for max points possible on each deal you submit.
  • You can notify credit how many points you want included when submitting each application.
What Types of Contracts Do You Offer?2019-05-10T01:28:39+00:00

Entegra Capital currently offers:

TRAC Leases with a 10-20% Residual

IF the credit profile qualifies we also offer a Conditional Sale Agreement ($1- Out or $101-Out depending on the state)

Coming Soon: Within a few weeks we will also offer an EFA option to applicants whose credit profile qualifies for this option.

Who Has to Provide Personal Guarantees?2019-05-16T20:12:51+00:00

We require personal guarantees from all owners of the business – regardless of their percentage of ownership.

We also require a personal guaranty from the spouse of any/all owner(s).

How Do You Calculate Credit For More Than One Applicant?2019-05-16T20:13:45+00:00

In the event there is more than one owner of the business, or a co-applicant, we will average the FICO scores of all applicants for use in our adjudication process.

Although we do require spousal guarantee for all owners on the contract, spouses who have no ownership interest are not required to be included on the application.

What Range of Term Does Entegra Offer?2019-05-16T20:15:47+00:00

In general, the term of the contract will be between 36-60 months. Some applicants may not qualify for a full 60-month term option, depending on the age/life expectancy of the asset or other factors.

Should the customer qualify, we can typically offer a 72-month term for new assets.

Assets: Additional Info2019-05-16T20:37:21+00:00

Generally, we will only consider assets included on our Approved Asset List.

Please note the following:

  • Generally, we do not finance dump trucks. The only type of dump truck that we will consider is an articulating dump truck.
  • We only finance full size construction equipment with a weight of 22,046 lbs. or heavier.
Will You Consider Applicants From All 50 States?2019-05-16T20:29:18+00:00

We offer financing in the contiguous 48 states, apart from a few restrictions in Florida.

We offer financing in Florida, excluding the following counties: Broward, Miami-Dade, Monroe

Do You Have Minimum Fleet Requirements?2019-05-15T21:55:42+00:00

No – Entegra Capital does not have a minimum fleet size requirement.

Do You Finance Glider Kits?2019-06-10T16:32:29+00:00

No, Entegra Capital will not finance trucks with glider kits installed.

Do You Finance Trucks With Maxxforce Engines?2019-06-10T16:29:41+00:00

Entegra Capital will consider trucks with Maxxforce engines that are 2014 or newer only.

Industry Involvement

Entegra Capital recognizes the importance of supporting the major broker and finance associations, and actively engages through membership, participation and sponsorship.

Go to Top