Submission Process and What to Expect
Initial Submission
Once you have filled out and submitted your application online, the process will begin immediately. Within twenty-four hours, you can expect to receive one of the following email notifications:
1. Additional Information Required
Our underwriters may need more details to better understand your position and make a final funding decision. This may include:
· Adding an additional Personal Guarantor.
· Providing details (year, make, model) of titled vehicles/trailers offered as additional collateral.
· Submitting three (3) consecutive months of bank statements to show additional revenues. These accounts may be used as backup if the primary account balance is insufficient.
Customer Contact and Verification
Once we receive all the necessary documents, we will verify your business information, personal information of all guarantors, and equipment details. This verification is the final step before approval. Please note that any discrepancies during this review process could result in a decline.
Final Documentation
After receiving all the necessary items to generate the final contract documents, the contract documents will be sent to you for review.
2. Approved
Your application has been preliminarily approved, and a term sheet will be emailed to you.
3. Declined
Our underwriters will explain why your application could not be approved.