Roden Consulting LLC

1203879851727645.76GtMRzFdqvlKDPlyf18_height640
0 0 Reviews
Popular

Roden Consulting LLC

WHAT ARE LENDERS LOOKING FOR WITH START-UPS?

Define Start-up – In business 2 years or less.  I can get a “Day One” start-up approved.  If you’ve had a CDL for 1 year+ it will help, a credit score of 640+, have 25% down, and never a repo then there’s a very good chance.

Experience – Having a CDL for over a year helps, 2+ years is better yet

Stability – Some may require home ownership.  Others may just require you be at the same address for a certain period, like 2+ years.

Down payment – Count on 20% to 25%, more if you have a low credit score.

Maximum loan – There will probably be a cap.  I’ve seen as low as $60K, $125K, it depends on the lender.

Credit Scores count – North of 700 will get you approved with the best rate, down to 640 the rate will be double digit for sure, less, you’ll be looking at a sizable down payment (like 1/3) and a sizable rate.  I can get approvals with score in the 500’s but you’ll need the down payment in cash (30-40% and you’ll probably pay back double the amount you borrow in 36-48 months).  Do people borrow at that rate and survive?  They do. And with prompt payments eventually qualify for loans with MUCH better terms.

How can I help? Remember, these aren’t rules, they’re guidelines. Different organizations weigh things differently and they change with economic conditions.  That’s where I come in.  I deal with multiple lenders so I can get you approved and do so at the best terms I can find for you.  Getting that first truck/trailer loan can be daunting.  I try to take some of the stress out of it and hopefully get you the best terms based on your individual situation.

Roden Consulting LLC 0 reviews

Login to Write Your Review

There are no reviews yet.

Welcome Back!

Login to your account below

Retrieve your password

Please enter your username or email address to reset your password.