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::
Credit Guidelines and Rates |
| Financial Group’s
scoring model is based on historical data proven to predict
a lessee’s future performance. The scoring model
is specific to the industries using these types of equipment
and lease financing. Often times, the Financial Group
scoring model outputs a better structure than a credit
score alone would predict. By following the guidelines
below, you will increase your approval rate and closing
rate by pre-screening deals before submission to Financial
Group. |
| Effective: |
10/1/2006 |
| Expires: |
10/31/2006 |
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| Financial Group Programs and Corresponding Credit Guidelines, Rates and Terms |
| Program | Minimum TU
FICO | Minimum TIB | When available
D&B Data | Finance Amount | Term Length | Residuals Available | Financing Types
Available |
| Tier 1 | 680 | 3 Years | Strong | $10k to $1.5 million | 24 to 72 Months | $1 Buy-Out, 10%, and 20% | EFA, FMV, Trac, Conditional Sale |
| Tier 2 | 650 | 2 Years | Moderate to Strong | $10k to $500k | 24 to 72 Months | $1 Buy-Out, 10%, and 20% | EFA, FMV, Trac, Conditional Sale |
| Tier 3 | 620 | 2 Years | Moderate | $10k to $150k | 24 to 60 Months | $1 Buy-Out, 10%, and 20% | EFA, FMV, Trac, Conditional Sale |
| Tier 4 | 595 | 3 Years | Moderate to Good | $10k to $50k | 24 to 60 Months | $1 Buy-Out, 10%, and 20% | EFA, FMV, Trac, Conditional Sale |
| Start-Up | 700 | Any | N/A | $10k to $150k | 24 to 60 Months | $1 Buy-Out, 10%, and 20% | EFA, FMV, Trac, Conditional Sale |
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| Financial Group Score:
Credit decisions, rates and terms are ultimately a product of
an applicant's Financial Group Score. The above guides help
you predict that score. |
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| TIB:
Time-in-business as verified by Secretary of State, Dun &
Bradstreet, Schedule C from a tax return or business license.
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| Term: Dependent
on asset age and asset type. Newer assets have best chance for
longer terms. |
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| Assets: Not
all assets financed for all programs. See reverse for corresponding
assets. |
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| Financing Types Available:
TRAC Lease if all assets are titled
and residual are 10% to 20%; First Amendment Lease (FAL) if
at least one asset is non-titled and residual is 10% to 20%
or a Capital Lease for any asset type(s) and $1 or $101 residual.
Financial Group Capital does not offer loans or EFAs. |
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| Automatic Clearinghouse: (a/k/a
direct withdrawal): Required for Tier 2, Tier 3 and Start-Up
Programs; optional for most transactions qualifying for Tier
1 and Corp-Only. |
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| Geographic Restrictions:
Tier 1 and Corp-Only available
in all 50 states. Tier 2, Tier 3 and Start-Up Programs only
available in contiguous 48 states. |
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| Automatically
Excluded Transactions |
Approved
Vendors |
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The average
TransUnion FICO is below 600 |
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Any of the personal guarantors
or business has a bankruptcy .led for, discharged
or dismissed in the last seven years |
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Individual assets are
under $20k. Transactions containing only assets
under $20k are automatically declined. |
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All assets are on the
Excluded Assets list (see reverse) |
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All assets to be financed
are more than 10 years old |
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Sale-leasebacks |
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Transaction is a private
party sale for non-titled equipment |
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| Capital
can fund only the following types of equipment sellers:
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Licensed equipment
dealers |
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Financial institutions
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Private businesses (for
titled equipment only) |
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Please note, we can only
fund the owner of the equipment and/or lien holder
as indicated by the title or UCC Filing.
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