Summary of the Financing Process
During the proposal stage, we ask questions to learn about your agency, listen to your objectives, and where helpful, we make suggestions based on over 25 years of equipment financing experience. We then email or fax a proposal that outlines structure, pricing, and terms of our financing solutions for your consideration.
Once you are satisfied with the financing proposal, it is signed and emailed, or faxed, back to us and we begin processing the financing paperwork. Upon receipt of your award, we email you the application that highlights exactly what information is needed. We normally request a completed application along with 2-3 years of financial reports.
3. Credit Approval
When we receive your credit package, we begin the underwriting process. Underwriting normally takes 1 – 5 working days depending on the loan size. We have extensive experience working with cities, counties, districts and authorities and know what it takes to accomplish credit approval quickly and smoothly.
4. Lease Contract
Upon receiving credit approval, we email you the lease contract to review and execute.
Once the credit is approved and the lease contract is fully executed and returned, we move to closing. The entire process from award to closing can take as little as 1 week but averages 3 to 4 weeks. We can move as fast as you need us to. Once closed, the lease proceeds are available to pay vendors immediately or can be held in escrow to facilitate multiple vendor payments or multiple deliveries.
Call 1-800-287- 5155 to get started!