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.
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.
FICO below 600 Felony record Bankruptcy discharged 3 years or newer Asset not included on Approved Asset List
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
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.
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