Personal Finance, Loans & Insurance

Start up packaging, printing, photographic, equipment, machinery,   business loans, capital, financing, leasing with credit problems is still available in these economic times.

 This article is going to discuss what is packaging, printing, photographic equipment, machinery   leasing/financing, what are its benefits,  leasing plans and how it relates to the start up business.

 Additionally, we will show you lending requirements below for start up loans

Leasing is a form of renting but with a buyout clause at the end of the lease to take title to whatever we are leasing. The requirements to get into the lease may be as low as first and last payment and as much as 25%. Each situation is different and this offers the start up and seasoned business a way to invest very little monies into the business. Additionally, all other monies can be used for operating expenses such as marketing and other key areas. Leasing is not a new form of financing but could be a lending solution to the start up business.

The benefits of leasing may result in off-balance sheet financing reporting, tax incentives and conserving cash flow and preserving lines of credit for working capital purposes. Many leasing requirements may only require the initial outlay of first and last rental payment. Most leases finance 100% of the cost of the equipment such as soft costs which include shipping, software, training and installation. Additionally, leasing lets you regularly upgrade your equipment, eliminating your utilization of old, outdated equipment and reducing repair options.

Some of the leasing plans available to the lessee are .00, 10% or 20% purchase options as well as Trac Leases and FMV lease buyouts. Additionally, some lenders offer seasonal payments, deferred payments for ninety days, declining payments and half payments for a specified time period. It is important that the lessee understands all these different lease plans available as well as the buyout clauses. The lessee has many options to consider in negotiating his lease. He must understand each lender’s requirements and see if it fits within the realm of the lessee’s requirements.

 Some lenders will accept the start up business whereas others will not want to lend to this group. They consider that their risk capital can be invested in other types of portfolios that can be better served. Many lenders require full documentation which includes a couple of years of personal income tax returns, a personal financial statement, and other underwriters requirements. However, in the past couple of years, there is a select group of lenders out there require an application only program. These lenders have their own computer scoring model and eliminate the necessary additional paperwork of other lenders.

 These application only programs are usually restricted to the seasoned business, however there are a few out in the industry which will work with the start up business as well. The amounts of the application only program run as high as 0,000 for the seasoned business and ,000 for the start up. Additionally, the lender will lease the qualified asset probably from 36-60 months and many won’t finance any equipment and commercial vehicles over ten years old.

 It is important to understand the lease terms, the rate factor the lender is charging and the buyout clauses in the lease to take title. If you anticipate paying off the lease early, you should consult your lender to ascertain there is no prepayments for a early payoff. The last thing to understand that the lessee is going to guarantee the lease.

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1) Recap of Start Up Business Loan, Financing Programs Up to ,000**********Conventional Financing, Bad Credit

0-2 Years Time In Business, Story Book Lender, Credit is Run but isn’t Credit Driven, High Cash balances help a lot for approval

For New Business Start-Ups: (terms 12-30 months) Up To ,000

1. Completed Credit Application

2. Personal Credit Report from all Principals

3. Last Years Personal Tax Return

4. Evidence of an Alternate Source of Income*********

5. Personal Financial Statement on All Owners

6. Evidence of a Business Bank Account (this may not be open yet)

If a Business has been open for a few months, please retrieve bank statements

Lease Terms are Up To 36 Months…………10% Buyout Clause

2 )          Second Start up Lending Program.

 If you have good credit for other start up financing, minimum credit score 650 or higher, the down payment for conventional financing may be any from 10 to 30% down. Industries include owner operators for semi, day cabs and dump trucks. Other industries such manufacturing, construction, medical, transportation may also be eligible. Paperwork requirements are basically the same as above….

3) If you don’t qualify for the start up programs above, we have many off lease and repo financing programs that start as low as 550 for minimum credit scores, financing up to 0,000, Down payments as low as ,000

 Happy hunting for your photographic, printing, packaging,   acquisition and its start up financing and business loan programs

Finance and lease fitness, gym, exercise, machinery and equipment programs are still available for new and used  equipment, however leasing and financing volume for the first part of 2010, was basically flat for most United States Industries.

Even though we are going through tough credit times, gym, fitness, exercise, machinery and equipment financing and leasing is still available for the good credit applicant and also for the not so good applicant. We are going to discuss the available gym, fitness, exercise finance and lease programs in general to give you an idea that money is still available for start up and seasoned businesses.

First we are going to start with the applicant with great credit. That would be an applicant with 680 or higher credit and time in business that exceeds three years. The applicant should not have any prior bankruptcies and should have low debt ratios. This applicant can qualify up to ,000 application only programs. Additionally, this gives the good credit applicant a good opportunity to acquire a great lending rate. If the applicant seeks more than ,000, they will have to provide more documentation to qualify. This would include two years prior years business and personal income tax returns and the summary page of your last three months business bank statements.( high average bank balances are looked at favorable)  A personal financial statement might be required as well as interim financial statements. A copy of the invoice detailing the fitness, gym and exercise equipment acquisition would be required as well..

Applicants with personal credit scores between 650 and higher still have a good opportunity to acquire their desired fitness, gym and exercise equipment acquisition. They should have a minimum of three years in business without prior bankruptcies. Low debt to income ratios are also looked at favorable. Additionally, some lenders still might offer application only programs and anything beyond the minimum application only levels would require the same documentation as above.

With the second tier credit described above, the rates will be slightly higher than “A” Credit with great fitness, gym, and exercise equipment and machinery financing and leasing opportunities available.

Applicants with Credit scores between 600-650, there are many fitness, gym and exercise equipment lending programs available without perfect credit. Even though there may be some dings on the applicant’s credit, there are still financing and leasing opportunities out in the financing market. There won’t be application only programs but plenty of lenders will look at you. Once again, strong healthy bank balances with time in business with profitable operations showing on your tax return is a big plus… Usually, full documentation information is required. The front money in these financing programs can run anywhere from 10-20% where as the first two programs can run as low as the first two payments..

There are other lenders that are not credit driven, but are story book driven. They work with start ups and seasoned businesses without perfect credit. They are more cash driven, and require some additional requirements to qualify. These lenders rates are higher than the gym, fitness and exercise programs described above but gives the applicant options that might be available elsewhere..

There are other lenders that are not credit driven at all but look at the free and clear assets that are available to the lender. Most lenders like machinery, bulldozers, trucks, excavators, etc that have retained a good value. These are cash poor applicants but have good qualified assets that the lender will qualify.

These lenders have their own formula to work out a lending base. One should call to find out the particular details (Copies of free and Clear Titles are required).These finance and lease programs can finance up to ,000,000 or more based upon qualified assets.

In this recession, many lenders have had to focus on their repossessed fitness, gym and exercise equipment inventories instead of normal business due to cash flow demands, out of balance credit lines with their own lenders, and competing with other lenders for the small supply of buyers in the market place.

In the prior better times, there were many application only programs up to 0,000 and 0,000. This meant there were no financial statements, tax returns or bank statements required. Today, there are less application only lending programs available, or the available programs require more information and their rate factors are higher than before. Due to problems in the economy, many lenders have gone back to more conventional lending requirements. .

These lending changes have a tremendous impact on normal business for marginal credit buyers, start up businesses and more mature businesses. One interesting area that has arisen out of this economic downturn is dealer/special financing. With all the repossessions in the market place today, buyers still have a unique business opportunity to acquire a repossession with a credit score as low as 550. Repossessions can be obtained with very little or no money down, sixty months to repay, regardless of age, and more favorable financing terms than conventional financing.

Since new business capital is difficult to obtain, it is suggested that the start up and seasoned business examine the repo markets. This could be a rewarding in the combination of both price and financing.

Remember, there are finance and lease programs that go into the millions for larger applicants, obvious they will require full documentation packages.

 If conventional isn’t available to you for whatever reason, please check out the repossession market and see what deals you may be eligible for

 Happy hunting for your new and used fitness, exercise and gym equipment and machinery acquisition and its related financing.

Finance and lease programs for technology, medical, manufacturing machinery and equipment, new and used, are still available in 2010 even though leasing and financing volume for the first part of 2010 was basically flat  

Even though we are going through tough credit times, technology, medical, manufacturing machinery and equipment financing and leasing is still available for the good credit applicant and also for the not so good applicant with marginal credit. We are going to discuss the available technology finance and lease programs in general to give you an idea what money is still available for start up and seasoned businesses.

First we are going to start with the applicant with great credit. That would be an applicant with 680 or higher credit and time in business that exceeds three years. The applicant should not have any prior bankruptcies and should have low debt ratios. This applicant can qualify up to 0,000 application only programs. Additionally, this gives the good credit applicant a good opportunity to acquire a great lending rate. If the applicant seeks more than 0,000, they will have to provide more documentation to qualify. This would include two years prior years business and personal income tax returns and the summary page of your last three months business bank statements.( high average bank balances are looked at favorable)  A personal financial statement might be required as well as interim financial statements. A copy of the invoice detailing the technology machinery and equipment acquisition would be required as well..

Applicants with personal credit scores between 650 and higher still have a good opportunity to acquire their desired technology machinery and equipment acquisition. They should have a minimum of three years in business without prior bankruptcies. Low debt to income ratios are also looked at favorable. Additionally, some lenders still might offer application only programs and anything beyond the minimum application only levels would require the same documentation as above.

With the second tier credit described above, the rates will be slightly higher than “A” Credit for technology medical, manufacturing equipment and machinery financing and leasing opportunities available.

Applicants with Credit scores between 600-650, there are many technology lending programs available without perfect credit. Even though there may be some dings on the applicant’s credit, there are still financing and leasing opportunities out in the financing market. There won’t be application only programs but plenty of lenders will look at you. Once again, strong healthy bank balances with time in business with profitable operations showing on your tax return is a big plus… Usually, full documentation information is required. The front money in these financing programs can run anywhere from 10-20% where as the first two programs can run as low as the first two payments..

There are other lenders that are not credit driven, but are story book driven. They work with start ups and seasoned businesses without perfect credit. They are more cash driven, and require some additional requirements to qualify. These lenders rates are higher than technology machinery and equipment programs described above but gives the applicant options that might be available elsewhere..

There are other lenders that are not credit driven at all but look at the free and clear assets that are available to the lender. Most lenders like machinery, bulldozers, trucks, excavators, etc that have retained a good value. These are cash poor applicants but have good qualified assets that the lender will qualify.

These lenders have their own formula to work out a lending base. One should call to find out the particular details (Copies of free and Clear Titles are required).These finance and lease programs can finance up to ,000,000 or more based upon qualified assets.

  In this recession, many lenders have had to focus on their repossessed technology equipment inventories instead of normal business due to cash flow demands, out of balance credit lines with their own lenders, and competing with other lenders for the small supply of buyers in the market place

.

In the prior better times, there were many application only programs up to 0,000 and 0,000. This meant there were no financial statements, tax returns or bank statements required. Today, there are less application only lending programs available, or the available programs require more information and their rate factors are higher than before. Due to problems in the economy, many lenders have gone back to more conventional lending requirements.

.

These lending changes have a tremendous impact on normal business for marginal credit buyers, start up businesses and more mature businesses. One interesting area that has arisen out of this economic downturn is dealer/special financing. With all the repossessions in the market place today, buyers still have a unique business opportunity to acquire a repossession with a credit score as low as 550. Repossessions can be obtained with very little or no money down, sixty months to repay, regardless of age, and more favorable financing terms than conventional financing.

Since new business capital is difficult to obtain, it is suggested that the start up and seasoned business examine the repo markets. This could be a rewarding in the combination of both price and financing.

Remember, there are finance and lease programs that go into the millions for larger applicants, obvious they will require full documentation packages.

 If conventional isn’t available to you for whatever reason, please check out the repossession market and see what deals you may be eligible for.

Happy hunting for your new and used technology medical, manufacturing  equipment and machinery acquisition and its related financing

The very terms “software leasing” and “software financing” are confusing to many businesspeople. This is due to the fact that software is typically not seen as something that is purchased over time.

This view is shared by both end-users, and the developers of software. Companies who think nothing of financing a vehicle or a new computer system will stress over how they will pay for expensive new business software. And the producers of software see no need for offering a software leasing or a software financing option.

But times are changing.

Third party equipment finance companies – companies who offer small and medium size businesses equipment financing and working capital – have responded to a need for software financing and software leasing. Thus, they are starting to include software amongst the equipment they finance or lease. There is one big overriding reason for this shift:

The High Cost of Buying Software

The simple fact is this: Software can be very, very expensive. Oftentimes more expensive than the hardware that runs it.

Now, keep in mind that when we are talking about software in this way, we are generally talking about “vertical software”. Vertical software is software that is written for a specific, narrow industry (this can include industry-specific point-of-sale software, ERP systems, specialized databases, etc). It is not software that’s available on the shelf at your local office supply store (the software you see there, even the business programs and operating systems, are “horizontal software” – they can be used across a variety of industries, and are relatively affordable.)

A good, clear example of vertical software is an auto parts store – they use software that’s specifically written for the auto parts industry. Another example is your local jewelry retailer – they likely use a point-of-sale system specifically made for the jewelry industry.

To understand how software financing and software leasing can positively affect a business, it is important to understand the advantages of vertical software first.

For most businesses, Vertical Software usually means far more efficient business processes. In the case of an auto parts store, for example, the software will already anticipate the thousands of automobile makes and models. And will almost certainly be updated every year. The jewelry store’s software will differentiate the subtle differences between two diamonds by any number of categories. And so on.

In fact, these “vertical” software programs are so effective, and become so crucial to day-to-day operations, that businesses often need this type of software to remain competitive. In many cases, it’s not an option to do without.

However, since the software is so narrowly focused, it usually comes with a hefty price tag. The developer will sell relatively few copies as opposed to a word processing program (which will sell in the millions), so they must get a premium for their work. Vertical software can sometimes reach five figures for a single license.

This brings an obvious problem: “Businesses need the software, but it’s very costly to buy outright.”

And that’s where software leasing and software financing come in – business don’t have to “buy” it upfront.

The Advantage of Software Leasing and Software Financing

The advantage of financing or leasing software is clear:

Software leasing and software financing take the huge up-front cost of new software out of the equation. Like most other business equipment, software is now beginning to be seen as a tangible asset (this was not always the case.) This means software can largely be treated as any other equipment purchase in the case of financing or leasing. A business can finance that new ERP system instead of having to budget a huge cash outlay.

This can be very beneficial to the bottom line, as software generally pays for itself over time. In fact, since “vertical” software almost always reduces the cost of doing day-to-day business, leasing or financing said software can actually create a positive cash flow right away.

But Who Offers Software Financing or Software Leasing, and how does it Work?

It’s true that software developers have been very slow to embrace the business model of software financing or software leasing. They would prefer to be paid up front for their software.

Likewise, banks, being part of an “older” industry, are also largely reluctant to finance software.

However, third party equipment finance companies who specialize in small and medium sized business equipment financing often offer attractive software lease and software financing packages. What happens is the equipment finance company pays the developer in full, and then provides the software to the end user under a finance or lease agreement, often at very attractive rates. In all actuality, it’s fundamentally the same as financing or leasing most other equipment.

Of course, like any other financing, the agreements can (and will) vary from traditional fixed rate financing to a “software lease” with a buyout at the end, etc. And the rates and terms also vary – your individual equipment finance company will have more details.

All in all, software financing and software leasing have definitely entered the business consciousness, and because it is so friendly to the bottom line, it is a business model that is here to stay.

Software leasing and Software financing are only a few of the services provided by Crest Capital. Regardless of the size of your company, Crest Capital can provide you with the equipment financing and working capital you need to successfully grow your business. Learn about financing options that can increase your bottom line and reduce your 2007 tax bill with a free online quote today.