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

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