I have been working in the world of finance since 1996. My various positions and experience have led me to the point of being the President of Energy Capital. I have decided to write this blog for anyone that is looking for a Commercial Finance lease or loan.
As a business owner, you are aware of the need to invest in your business to grow your business. You have an asset or asset’s that would do the job. Now this does not necessarily mean you need to pick one asset and stick with it. If you have an experienced finance professional that you are dealing with, they should be able to provide you with several options.
For example, they can approved you for a new Truck, but you decide that a used one will fit the bill. Your finance professional should be able to plan ahead to get that done as well. Like Marlon Brando in the Godfather – he was always 5 steps ahead of the competition. A good finance professional should be able to do the same and quickly get the new asset re-approved.
I recently ran into this exact scenario for a client of mine at an auction. He was pre-approved for a specific age of an asset, and when the bidding came up – he found an older asset that was in better shape than the new one. He bid, won, and then called me with the results. I quickly sent the asset to my lender for an approval on the older unit. Since this asset was determined ‘too old’ for their credit box, I sent the file over to another lender who quickly approved it the same day.
Having experience with your lenders and the asset they want to finance pays off. But also having the foresight to plan ahead is invaluable.
If you have any questions about getting pre-approved for an asset, feel free to call me too-free at 1-800-299-0257, or direct on my cell at 780-221-8386.