Commercial Vehicle Financing & Vehicle Title Loans

Commercial Vehicle Financing

Commercial vehicles are necessary for the smooth operations of many businesses. Examples of companies that may need business vehicle loans are limousine businesses, taxi companies, caterers, auto rental companies, construction companies, HVAC repair companies, pest control organizations and the like. Such companies like to have uniform fleets of vehicles that they can provide to their most trusted employees. Vehicle and equipment finance options are available through various mediums, such as the Halo Capital Group.

The Halo Capital Group can help you get the funds you need. We are network of lenders and investors that use an streamlined application process to get you funded quickly and easily. To learn more, fill out the form to the right and someone will get back to you within a few hours to discuss your loan options.

Understanding Commercial Vehicle Financing

Getting vehicle finance for your business starts with developing a game plan. The lender will need to know the number of vehicles your company wishes to attain with their commercial vehicle financing solutions. Next, the business owner will want to know if the your company can earn enough profits to repay the loan. You as the business owner should research various aspects of the lending process. The first aspect that you should study is the commercial vehicle loan interest rate. There are many factors that affect the interest rate, such as the business’s credit profile. As a general rule, businesses that have established a positive credit profile over the years are likely to have lower interest rates than businesses that have a poor credit history. But it depends on the lender. Many alternative lending institutions turn a blind eye to a business’ credit score. Instead they look at things like a steady, healthy cash flow.

Another element that affects the interest rate of a business vehicle loan is the down payment. The business owner will want to have a reasonable down payment to offer the company that will be providing the commercial vehicles loan. The interest rate will typically go down as the person raises the amount of the down payment. Commercial vehicle loans are more easy to obtain if the business owner is willing to risk a large down payment. Large down payments make lenders feel much more comfortable in their choice to extend an advance, since borrowers will have more “skin in the game.”

Title Loans

Commercial vehicle title advances are completely different than business van loans and business vehicle finance. Business owners take commercial van loans so that they can obtain vans for the business. On the other hand, commercial vehicle title loans are options for business owners who want to borrow money by using the title to a commercial vehicle. For example, a business owner may want to borrow $10,000 for office equipment off the value of a semi-truck. For a title loan, the business owner would have to agree to allow the lender to place a lien on the commercial vehicle until he or she repays the advance.

Commercial Van & Vehicle Financing: The Process

Commercial van loans have a simple process. The business owner first completes an application for commercial van finance, and then has to present relevant documents to the lender, such as FICO scores and proof of collateral. Some lenders provide loans to people who have bankruptcies, poor credit, tax liens, low credit scores and the like. Such lending companies may or may not use a collateral system. Collateral is an item that a lender can hold when it issues vehicle equipment finance solutions to it’s borrowers. In this type of agreement, the lender will then release the lien when the borrower repays the funds obtained.

Using Small Business Vehicle Finance to Grow Your Company

Business van finance and commercial vehicle loans can help a company to get on its feet and service its customers. Commercial vehicle finance places the necessary equipment in a business’s hands so that it can provide the services and accommodations it describes in its plan. In businesses where vehicles are an integral part of a growing customer base, having access to capital is vital to success.

Commercial Vehicle Loan Interest Rate

A small business vehicle loan can have a reasonable interest rate if the borrower works with a reasonable provider. Rates are negotiable, and a lender can change them if the borrower meets certain criteria.

Using a Commercial Vehicle Loan Calculator

A helpful tool that the prospective borrower will want to use is a business vehicle finance calculator. The tool will tell a prospective buyer a monthly payment amount after the person enters pertinent information about their loan package. The person will want to type in the amount of the down payment, the number of months the loan carries and any other information that may be relevant. A loan calculator can help a prospective borrower to see the terms of his or her financial agreement before it becomes final. Visitors can enter the numbers in the calculator and view the projected monthly payment from there.

Vehicle and Equipment Financing

Vehicle and equipment finance options are available through Halo Capital. We pride ourselves on providing vehicle finance solutions with competitive rates and flexible terms for business ventures. To see how much money your business qualifies for, fill out the form to the right and someone will get back to you within a few hours to discuss your financing options.

Car salesman and young woman looking over the paperwork at a car dealership

Finance Your Business with Commercial Equipment Loans

Business Equipment Finance Services

Many businesses need about five or six essential items to succeed and compete with other businesses and equipment is one of them. Unfortunately, the cost of equipment can be astronomical for some industries. That’s where business equipment advances come in to play. A new or established business can obtain a business equipment loan using a number of strategies. The following contains some information about some of these strategies. If you would like to apply for business equipment financing, fill out our simple form to the right and a representative will be in touch to discuss your options.

How to Get Approved for Commercial Equipment Finance

A business equipment loan is a form of collateralized funding that can cover a business’ operational equipment costs. Commercial equipment financing can cover a wide variety of items such as restaurant ovens, construction equipment, computers, tables, chairs and more. It can help a business to get on its feet until the owners can return the loan proceeds. If you are a new business, you may have to meet certain criteria before you apply for a business equipment finance solution. First and foremost, you may need a clear vision as presented in a business plan before you can obtain approval. If you are an existing business however, it will be much easier to get funded if you have a track record of success.

How Much Business Equipment Financing Do You Qualify For?

Most existing businesses can qualify for equipment financing. Potential lenders will typically review several aspects before they make a decision on how much you qualify for. The first factor that they will take into effect is the company’s credit score. If a prospective borrower has a bad credit score, they will have to prove that it can earn enough money to repay an advance and make additional profits. Another factor they will look at is the history of your business – how long you’ve been operating, how profitable you are, and whether you have any current debts. The third factor they look at is the value of the equipment you’re looking for purchase.

Equipment Financing for Startup Businesses

Small business equipment loans for startups require a well thought out business plan. A business plan is a computerized or blueprinted projection of profits that will work their way into the business during a two-year period in most cases. The prospective lender will consider other factors such as the company’s assets, liabilities, accounts receivable and the like. They will also consider down payment options before they make a decision on a small business equipment loan for your startup company.

Industrial Equipment Financing and Other Types

Many different types of vendor equipment financing options exist. Industrial equipment financing is necessary for construction workers and other organizations. Computer equipment financing is for companies such as call centers that need to have all-day access to a fleet of computers. This type of financing may also be necessary for a schools and institutions.

Financing for Computer & Technology (IT) Equipment

Technology equipment financing is for companies that rely on hardware and software to run their operations. For example, a computer store needs computer equipment to operate and in many cases, can’t afford the up-front cost. This is where financing options would come into playl. If you are in need of IT equipment financing and don’t know where to start, we can help.

Amounts for Vendor Equipment Financing

A lender’s limits for issuing equipment loans for small businesses vary according to the industry. For example, IT equipment finance may not be as generous as construction equipment finance. Typically, a lender will offer business equipment financing in the millions of dollars for the right company. Financing limits would depend on the applicant’s resources. A business can receive substantial business equipment funding if it is willing to provide additional collateral.

How to Get Equipment Funding for Small Business

A prospective business owner will want to contact Halo Capital to find out which options are available for equipment funding for their small business. We can provide funding solutions for a wide variety of business needs. To learn more, fill out the form to the right and someone will get back to you within a few hours to discuss your options.

Business Equipment Loan Rates - Halo Capital