bw1The Process

Our credit-application process is very simple: You apply – Online, with a handwritten application, or over the phone We pull your credit reports – We’ll send you a copy so you know what we base our decisions on. We submit the application to underwriting – We’ll choose the appropriate lender based on your profile. You get approved! – When approved, we can fund within a day or two!

bw2The Decision Process Borrower Evaluation Your credit profile is determined by a combination of employment history, credit history, and credit score. This provides the lender with an accurate perspective of you as a borrower. We can finance businesses in all stages of their existence — from start-ups to seasoned businesses and everything in between — depending on the credit profile. If we find problems with your credit, we can work to find ways to emphasize your strengths while working towards fixing the deficiencies. Equipment Evaluation We evaluate the equipment based on several important factors. First, and arguably most important, it the age of the construction equipment or commercial vehicle. Because newer equipment is more reliable and less likely to break down completely, financing new equipment is often far less expensive than attempting to finance older equipment. Underwriting Decision The underwriter uses your time in business, the industry itself, the credit scores of those applying for commercial equipment financing, prior borrowing experience, the age of the equipment, and other conditions to determine your specific rate and terms. Unlike personal lending, all commercial deals are looked at for their individual merits. The rate and terms are finally determined by the lending institution.

If you are struggling with your numbers, call us at 972-905-9577. We will walk you through your application to see if your deal makes sense. We’ll tell you either way, good or bad. Putting someone in a bad deal just for the benefit of a sale does not happen at Fleet Lending Solutions because we want long-term, stable partners in business and we carefully protect our reputation.