Collateral-based equipment financing
- Documentation
- Application, credit authorization, at least three months of bank statements, collateral list and purchase invoice; above $150,000 also corporate/personal financial statements and tax returns.
- Asset floor
- Each item generally must exceed $10,000 valuation; exceptions may involve a blanket UCC lien.
- Preferred assets
- Heavy construction, titled trucks/trailers, industrial, manufacturing, medical, surface mining and agriculture.
- Restrictions
- Restaurants, IT, leasehold improvements and CBD-related assets are listed as restricted.
Provider sources: Financing guidelines
