Inside Money Today

Lendinero's blog on Growing Your Business

Lendinero makes equipment financing easy.  We have partnered up with top funding channels to bring this solution to you. Here are the answers to our most Frequently Asked Questions.  To qualify you need to be in business for 2 years and have good credit history and a 680 minimum credit score.  Also, if there is more than one owner that owns more than 30% they need to apply.
Equipment Finance Application 1

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Will my personal credit have an inquiry when I apply?

Nope. We can make a decision without an inquiry showing up on your credit report. You need a 640 credit score or higher and good credit history; that means no collections, no high balances on credit card limits, no charge-offs, bk, etc.

What are your finance rates & Terms?

The finance rates we offer are competitive with a typical bank business loan..  Rates can range from 7% to 15% annual and terms can range from 2 years to 5 years.  Also, monthly payments ACH.

Do you have the restrictions that a bank has, like blanket liens and similar?

No, we do not. Our fixed-rate loans and leases require no blanket liens, and we also do not require a compensating bank balance. Nor do you have to re-qualify for the loan annually. Assuming you make your payments, we’ll leave you alone.

Do you finance (insert type of equipment)?

Yes, we will finance almost any type of equipment, vehicle and software a business needs to conduct operations. From machinery to office furniture to electronic equipment to… pretty much everything else.

Do you provide titled leases?

Yes, we do – with a guaranteed purchase option.

Is your financing Section 179-friendly?

Yes. And we encourage you to use Section 179 in conjunction with our financing / equipment leasing. Your accountant will be very pleased.

What about startup financing? Or bad credit financing?

These we don’t do. Sorry.

What transaction sizes do you finance?

From small ($5,000) to large ($500,000-plus).

What about applying – do I need boxes of tax returns and other forms?

Nope. If your transaction size is under $250,000, then all you need to do is fill out the application.

Once we apply, how fast is your approval process?

SAME DAY APPROVALS; MAX 2 DAYS. FAST AND SIMPLE.

I assume you finance vehicles too – is that true?

Indeed it is. We generally finance and/or lease new and used commercial vehicles and trailers. This means everything from delivery trucks and vans to work vehicles to heavy equipment. We even finance vehicles like paving trucks, cranes, ambulances, and similar. The only types of vehicles we don’t finance are passenger cars, and transportation company / owner-operator trucks (that said, we do finance individual 18-wheelers for companies not involved in the transportation industry).

Do you provide financing for the entire transaction?

Yes, we provide 100% financing.  Can we can also provide you with a hybrid solution which means 20% with our express loan program and 80% with our equipment financing program.  We are flexible.  If the cost of the equipment is $100,000 and under the equipment financing program you qualify for $80,000; we can get you the $20,000 with another loan.

How do I get started?

Download our equipment financing application and submit it to us.
Equipment Finance Application 1

 

DISCLOSURES: WE CHARGE: $100.00 TO APPLY FOR THIS PROGRAM AND IF YOU GET THE LOAN WE CHARGE 1% OF THE LOAN AMOUNT.  KEEP IN MIND; IF YOU GET APPROVED YOU WILL GET A MONHTLY PAYMENT LOAN, LOW RATES AND TERMS RANGING FROM 3 TO 5 YEARS.  BETTER THAN OUR DAILY OR WEEKLY PAYMENT PROGRAMS.

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