Cash for Collateral is financing structured as a lease using equipment that you already own to secure the transaction. You will gain all of the tax and write-off benefits that make the lease structure so appealing, particularly when using equipment that you no longer have the ability to depreciate. Cash for Collateral is an application only program.
PROGRAM BASICS:
Application only
Transaction sizes $10K - $100K
12 Months in business
Credit Score 620 or better
No Open or Recent Bankruptcies, Foreclosures, or any other Major Derogatory Items, such as Tax Liens, etc…
Equipment does not have to be free & clear but it may not be encumbered by an equipment specific clause in the UCC filing
Software and Computer Equipment may also be considered.
Blanket liens, in most cases, are acceptable
No Site Inspection Required
No Appraisals Required
Approval in approximately 3-4 business days
Funding in approximately 5-7 business days
Support Documents:
Signed and dated LPIH Credit Application
Completed Cash For Collateral Equipment Schedule
Completed Cash For Collateral Loan Informational Disclosure Form
