Finance Process

Application only to $150,000.00 Program

Customer sends application and first page of last three month’s business bank statements (No application fee)
Credit answer within 24 hours
Customer sends copy of equipment quote or invoice for documentation
Docs will be emailed to customer within 24 hours
Customer executes docs and overnights to LFC
Check goes out to Vendor usually within 48 hours of delivery and acceptance of equipment by customer

The credit criteria for the above is:

Personal Credit score of 675 or better
Clean D&B and D&B Paydex showing satisfactory business pay history showing satisfactory business pay history
Bank balances commensurate with credit request
Two years in business

Over $150,000.00 Financial Statement Program
In addition to application and bank statements above Customer sends the following:

Last two years business fiscal year end statements (Balance Sheet and P&L Statement (Including all accountant’s notes)
Last two years corresponding business tax returns
Latest interim P&L and Balance Sheet
Personal Financial Statement on majority stockholder(s)
Last two years personal tax return on majority stockholder(s) if Sub S corporation
Credit answer within 48 hours
Rest of process is as above

The credit criteria for the above is:

Same as app only program with analysis of financials that basically determines if the cash flow of the company is sufficient to carry the new debt