Construction Truck and Equipment, New and Used, Acquistions For Sale With Conventional Financing

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Construction truck and equipment, new and used, acquistions are obtainable for sale in this decline with conventional financing This economy has given the start up and seasoned business a remarkable acquisition opportunity. As the construction period has heated up, there are loads of construction trucks and equipment waiting for buyers.

The best deals come in the appearance of cash buyers who can have power over their purchase price with the power of cash. Conventional financing is available to businesses that have good and/or excellent credit.

The makes and models of trucks and equipment include Olin, Mack, Komatsu, Case, Caterpillar, JCB, John Deere, Rayco, Kobelco, Volvo etc.

For those who have good credit, they have the chance to apply for application only programs. These construction financing programs propose the applicant financing on construction equipment and truck acquistions with minimal paperwork. Usally the summary page of the last three months business bank statements plus the signed and dated application is the obligatory paperwork. The application only programs run up to $50,000 to $75,000. Additionally, the applicant must be in business for a minimum of two years.

For those applicants looking for more than $50,000-$75,000, the financial institutions call for full documenation..These full documentation programs offer the applicant a great rate and flexible buyout terms. Below is the minimum requrements that the candidate must obtain in order to achieve this level of financing. Usually, lenders will go up to $250,000 or possible more of qualified new and used construction financing.

General Credit and Other Paperwork Qualifications for Construction Truck and Equipment Financing

Time in Business More than Two Years
Personal Credit Score 650 or higher
Copy of your 2008 business tax return
Copy of the owners 2008 personal tax return
Summary page of your last three months business bank statements
A hauling reference
A copy of an invoice detailing seller information and complete specs on the construction truck and equipment

In this economy, banks are seeking for a healthy balance sheet with a decent average balance in the bank account.

The types of construction trucks and equipment that are available include boom trucks, cement and concrete trucks, concrete pump, cranes, compactors, dump trucks, excavators, backhoes, asphalt pavers, chipper, cement silos, etc

In conclusion, construction financing, new and used, is obtainable to qualified applicants. These special financing arrangements are offered to good and excellent credit candidates. Usually the credit qualifications should be 650 or higher and they should be in business two or more years.

Also there are options for applicants without good credit. These involve secondary financing for repos and off lease equipment. The lender needs to move these inventories and impressive buys and financing can be found in this exceptional area. The credit scores start in the low 500s and the down payments are minimal.

Happy hunting for your construction equipment financing.

Article Source: http://depositarticles.com/

J.M Luna has thirty years experience in the financial field. This includes accounting and taxes, leasing, hard asset money and commercial lending. U.S Corporate Capital Leasing assists the start up and seasoned business for financing in all different industries. www.cclgequipmentleasing.com/lease_construction.htm www.cclgequipmentleasing.com/lease_equipment.htm

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