FAQs

There are several ways you can apply:

1. You can do your application over the phone with one of our advisors. Just call 888-565-6692.
2. You can download our credit applications HERE.
3. You can submit your contact information online using our form. Then the next available advisor will reach out to you.

Yes, we have a wide variety of programs that are tailored specifically for start-up businesses.

This will depend on the type of financing you’re seeking and which program you qualify for. Some equipment financing programs can fund in as little as 48 hours, and some working capital programs can fund under 24 hours. This of course depends on your qualifications.

Yes, we do offer financing for used equipment. Keep in mind there are different guidelines for all programs and it’ll also depend on if the seller of the equipment is a dealer or private party.

Typical turn-around times are 24 hours, or sometimes even quicker than that!
In very rare cases, it may take longer due to the time of the year and volume of applications we are working on.

We offer a wide variety of financing programs for business owners. We offer equipment financing, commercial vehicle title loans, collateral loans for heavy equipment, working capital loans, and invoice financing/account receivable financing. You can find the links to the more detailed outline for these programs located on our top menu section of our webpage.

The majority of our programs are considered “Application Only”, and that means no proof of income will be necessary. Depending on the credit, time in business, type of equipment, industry, and the amount you’re seeking to finance we may need to see income. Proof of income can be as simple as your last three months’ bank statements. Tax returns are sometimes necessary if you are looking for a lower down payment option when it comes to financing equipment.

One of the greatest advantages with financing equipment, is the ability to obtain the necessary equipment to grow your company, with very little upfront cost and spread the payments over a reasonable amount of time. Ideally and if it’s possible, preserve your business capital for other business expenses like payroll, rent, insurance. Plan ahead, and make sure you have a reserve account for unforeseen expenses like equipment repair, or expansion.

Absolutely!

We have a wide variety of programs that are suited for business owners who have challenging credit. This includes applicants who might have a recent bankruptcy or repossession. But like any other program, there are guidelines and there are too many variables to cover everything on our FAQ. The best is to have a conversation with one of our advisors to see what you may qualify for.

If the equipment is essential for your business, we can finance it! For example, if you own a medical practice, we would finance any type of equipment that is related to that industry. We wouldn’t be able to finance a bulldozer or dump truck for that type of business. But we can finance commercial vehicles, restaurant equipment, medical equipment, software, yellow iron, just about anything! If you want to know more about the different types of equipment we’ll finance, it’s always best to call and speak to one of our advisors first.

Our terms and rates are very competitive within our industry, and we’ll always strive to find the best suited program with the best terms for our clients. The terms you qualify for will be based on several factors, your length of time in business, business credit profile, business owner’s credit profile, industry type, equipment type/condition, are just a few items we will look at when reviewing your credit application.

The following are the type of leases First Capital Business Finance offers:

• Equipment Finance Agreement (EFA)
• Fair Market Value (FMV)
• 10-20% Purchase Option
• Dollar buyout ($1 out)
• Term Residual (TR)
• Sale-Leaseback (SLB)

Learn more by calling us at 888-565-6692!

A lease is a contractual arrangement where one person/business (lessee), the lender/owner(lessor), owns an asset and provides possession and use of the asset to another person, the lessee, for a fixed term.

The lessor is the legal owner of the asset/equipment and the lessee has the legal right to use the asset/equipment in exchange for rental payments. Sometimes there might be a buyout if the lessee wishes to own and purchase the equipment. This is common in the transportation industry, our company can help assist with financing the lease buyout on your semi truck.

An equipment finance agreement is an alternative to the traditional lease, and it is very similar to a loan.

• Fixed monthly payments
• Terms ranging from 12 to 72 months

The EFA terms and conditions are similar to a lease, but it is not a lease.

At the conclusion of the equipment finance agreement, you have no future financial obligations to the lender.

Unlike a lease, an EFA will not have a buyout at the end of the term; whereas, with a lease, there will sometimes be a buyout to own the equipment.

Unfortunately we are not offering any of our financing programs to any businesses located in California. This also includes business owners who reside/live in California but their business location is located in a different state.

Absolutely not, we will never sell your information. It’s our job to learn about your financial needs, and assist you with the appropriate type of program.

The short answer is Yes! Click here to learn more about financing a semi truck without a CDL.

This is a very common question we receive from our clients. We offer programs that allow for lower credit profiles, no proof of income, and our turnaround times can be as fast as 24 hours. If you haven’t tried to get financing with your bank, we strongly encourage our clients to call their business banker and ask them 3 simple questions:

1. What are your credit requirements?
2. What are your income requirements?
3. How long will the process take?

We have found, the majority of banks who offer commercial financing require strong credit profiles from both the business owner and the business itself. They typically will not fund startup businesses, as this is considered a high risk transaction. Banks will want a minimum of 2 years business tax returns with strong revenue, along with 2 years financials and year-to-date profit and loss and balance sheet. Banks are definitely taking a lot longer for funding, it’s not uncommon to hear turnaround times taking 30 to 60 days.