Truck & Equipment Loans
Truck & Equipment Loans
Truck & Equipment Loans
Used Truck & Equipment Financing
JumpStart Program
The Jumpstart LoanSM is designed specifically for business acquisitions and franchise purchases. Offering a maximum amount of flexibility and unique credit terms based on both personal and business creditworthiness (where applicable), the Jumpstart LoanSM is perfect for entrepreneurs with great credit who want to avoid the hassles of SBA or conventional lending.
Since Jumpstart Finance does its own in-house underwriting and approvals, clients can enjoy quick approvals and funding with minimal paperwork. The Jumpstart LoanSM is a perfect solution for qualified entrepreneurs seeking a highly flexible, streamlined and accelerated funding process.
Features of the Jumpstart LoanSM
- Loan amounts from $50k – $250k
- Terms from 5 to 10 years; manageable monthly payments
- No personal real estate or other collateral required (depending on loan amount)
- Does not report to personal credit
- Perfect for pre-revenue start-ups
- Great for first unit franchisees
- Works for existing business acquisitions or franchise re-sales
High-Level Requirements
Borrowers must have:- Excellent credit (750+)
- Low DTI, excellent payment history
- Personal liquidity >$50k
- Current income (W2 or 1099 and can include household or co-borrower income)
- A registered business (must have EIN but business does not need to be generating revenue yet)
Borrow against equipment you already own.
Application only financing up to $350,000
- A-D Credits-Best rates are from 7-9%
- Ability to finance new businesses
- Credit approvals within 24 hours
- No restrictions on age of the equipment
- Terms from 24-72 months
- 100% Invoice financing
HOW T0 QUALIFY
- Minimum 600 Credit Score.
- Photos of all 4 sides of Equipment
- Photo of Odometer (If Applicable)
- Condition Report
- Our 1 Page application completed by any owners with 25% share or more.
- Rates starting at 6/6.5% for A tier customers.
- Early buyout available. Interest will be waived depending on which buyout customer gets approved for.
- (Some Banks are willing to waive the majority of interest if paid off early.
Unsecured Loans
What Are Unsecured Personal Loans?
Unsecured personal loans are installment loans that don’t require collateral. This means you won’t need to pledge assets, such as a home or retirement savings, to secure the loan. Instead, the loan is based on your creditworthiness. You borrow a set amount upfront and repay it in fixed payments over time.
Common uses for unsecured personal loans include home improvements, debt consolidation, and other major purchases.
Advantages of Unsecured Personal Loans
One of the main benefits is that you don’t need to provide collateral. This eliminates the risk of losing personal assets if you default on the loan.Unsecured loans offer flexibility and can be used for various purposes without requiring extensive documentation. Unlike SBA loans, business financials aren’t necessary if you use the loan for starting or purchasing a business; approval is based solely on your credit history.
Unsecured Personal Loan FAQs
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Can I use a personal loan to start a business?
Yes, unsecured personal loans can be used to cover business or franchise costs.
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How does a personal loan affect my credit score?
Initially, a “soft” credit check will assess your eligibility without impacting your score. A “hard” credit pull, required for the loan application, might lower your score slightly, but usually only temporarily. Multiple inquiries within a short time are usually counted as one. Defaulting on the loan will significantly impact your score.
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What’s the difference between secured and unsecured loans?
Secured loans require collateral, often resulting in larger loan amounts but higher risk. Unsecured loans don’t require collateral, allowing you to avoid risking personal assets while still securing reasonable interest rates.
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What is the interest rate for an unsecured personal loan?
Interest rates vary based on economic factors and individual lender policies. Contact a Jumpstart Finance Loan Advisor to find out the rates you might qualify for based on your credit.
Collateralized Funds
Borrow against equipment you already own.
Application only financing up to $350,000
- A-D Credits-Best rates are from 7-9%
- Ability to finance new businesses
- Credit approvals within 24 hours
- No restrictions on age of the equipment
- Terms from 24-72 months
- 100% Invoice financing
HOW T0 QUALIFY
- Minimum 600 Credit Score.
- Photos of all 4 sides of Equipment
- Photo of Odometer (If Applicable)
- Condition Report
- Our 1 Page application completed by any owners with 25% share or more.
- Rates starting at 6/6.5% for A tier customers.
- Early buyout available. Interest will be waived depending on which buyout customer gets approved for.
- (Some Banks are willing to waive the majority of interest if paid off early.