At CFF, our typical client has a personal credit score of 640 or higher. With credit scores below 640, additional information will be required to review and potentially approve your credit application.
We will do a soft pull on your credit to verify what programs you may qualify for. A soft pull does not impact your score. CFF looks at both your business and your personal credit when we process your credit application. This is often positive, because some clients have limited business credit, and we can use the strength of their personal credit to approve their financing and put the equipment IN THE NAME OF THEIR BUSINESS.
CFF has a unique program called FRESH START. It provides the opportunity for clients with challenged credit to get re-established. The rates are higher and the terms are more ridged, but we do have an option for you with approved credit.
Our rates often compete head to head with your local bank or credit union. Yes, we need to review your credit, but you will find our rates highly competitive within the transportation equipment financing industry. In the end, if we aren’t competitive, you don’t have to do business with us.
We are fast. If your application is complete, we can usually issue a credit approval within as little as 2 hours.
Since 1995, CFF has financed both titled (light, medium, and heavy vehicles, and trailers), and non-titled (construction equipment, material handling equipment, hydraulic lift, etc) for commercial purposes.
CFF offers financing ranging from $10,000 – $1,000,000. Our average transaction size is $62,000.
You insure your equipment against loss including property and casualty coverage, and liability. Most clients simply add their new or replacement equipment to their existing policy.
In most states, because you are financing your equipment vs. leasing it, you are responsible for the taxes. Tax rates vary by county and state.
We know that you know what you are doing. Although most of our clients purchase equipment from a licensed dealership, if you find a good deal, we want to help you buy it. Therefore, you do not have to buy your truck, trailer or equipment from a dealership to qualify for our financing.
Most of our transactions are approved with a simple one page credit application. From time to time, we will request additional business information such as bank statements and/or tax returns. In addition to your credit history, we like to review the buyers order of the equipment you are purchasing to make sure it has a clean title and in good working order.
We love talking in person or on the phone! Feel free to call us directly at 469.281.2962 and speak with a professional who will understand your needs and always recommend the program that benefits you most.