Brokers

“A” Credit App-Only Program to $75,000

$15,000 - $25,000	$25,000 - $75,000
3 years TIB	6 years TIB
HIGH-4 Bank	MOD-5 Bank
700 Experian FICO on all PG's Home ownership required on all PG's > 40% revolving available and < $30,000 CC debt on all PG's 70 Paydex (if no D&B, 2 bank/leasing comp references) No Bankruptcies, Corp-Only, Louisiana, Hawaii, or Alaska No Sole-Props (can be considered through “A” TIER 2)

**Submissions that do not meet these requirements can be considered with financials, or app-only through "A" TIER 2 or "C" pricing 

Soft Costs: Generally limited to < 20% on new equipment and < 10% on used equipment

 Cautionary Equipment & Industries:

**Owner/Operators: Spousal PG required, CBR must show comp borrowing, home/business/cell phone required, 3mo personal & business checking, 2yrs personal taxes.  Also require name, address, & phone of 2 relatives not living with PG and for bank where personal & business accounts are maintained.

**Rental Companies: 5yrs TIB.

**Restaurants & Hotels: < $25,000 for app-only, 5yrs TIB, HIGH-4, & 2 bank/leasing comp references.

**Trucking Companies: 5yrs TIB, 5 employees, 5 trucks currently in operation, & A/R aging report including % of business and how long company has done business with their top 5 customers.

 Restricted Equipment & Industries: Aircraft, Adult, Agriculture/Farming, ATM’s, Auto Dealerships, Boats, Cell Phones, Chiropractors, Churches, Concrete Forms, Construction, Consumer Rentals, Demo Equipment, Energy Management Systems, Gaming, Gas Dispensers, GPS Systems, Hazardous Waste, HVAC, Leasehold Improvement, Logging, Mortgage Loan Brokers, Paint-Booths, Private Party Sales, Rail Cars, Real Estate Brokers, Satellite Systems, Signage, Scaffolding, Sole Proprietors, Software Only, Tanning, Title Companies, Tradeshow Booths, Underground Tanks, Used Electronics, Used Equipment (> 5yrs), Used Laundry / Dry Cleaning Equipment, Vehicle Emission Equipment, Vending, Walk-In Coolers, Waste Treatment, Websites.

**All submissions require detailed write-up with business background + use & justification for equipment request, 3mo bank statements, # of employees, annual revenue, & signed credit application within 90 days.

 Applicants that do not meet above criteria will be considered on "A" Credit Financial Disclosure Program.

“A” Credit Financial Disclosure $20,000 - $5,000,000

$20,000 - $149,000	$150,000 - $300,000	$300,000 -$500,000
3 years TIB 660 FICO required on all PG’s No open derogs > $300 on business or PG Corp-Only requires 10 years TIB, $1MM tangible net worth per CPA Audited/Reviewed financials
Requires recent interim (within 3mo) + recent year business tax return + YE financial statement + signed PFS.
	+ most recent year personal tax return	+ last 2 years personal tax returns

Restricted Equipment & Industries: Aircraft, Adult, ATM’s, Boats, Cell Phones, Gaming, Hazardous Waste, Leasehold Improvement, Owner-Operators, Rail Cars, Signage, Tanning, Tradeshow Booths, Underground Tanks, Used Construction Equipment, Used Electronics, Used Equipment (> 10yrs), Vending, Websites.

Corp-Only: Requires 10 years TIB, $1MM tangible net worth per CPA Audited/Reviewed financials.

In general, the following criteria are expected for approval:

·         Industry is not excessively risky

·         Positive sales, margin, and profit trends

·         Adequate cash flow to service existing and proposed debt.  We look for debt service coverage of at least 1.5 times (or industry median).  Cash flow coverage = Net Profit + Depreciation – Dividends / Current Portion of Long Term Debt (CPLTD) + New Payments

·         Adequate liquidity (as measured by the current and quick ratios)

·         Moderate leverage (as measured by total debt to tangible net worth (TNW))

**All submissions require detailed write-up with business background + use & justification for equipment request, 3mo bank statements, # of employees, annual revenue, & signed credit application within 90 days.

“C” Credit $10,000 - $100,000 (App-Only $10,000 - $50,000)