Truck/Transportation financing programs
From Rainstar Capital Group
Rainstar Capital Group has developed a diverse platform of lending solutions for clients seeking trucking/transportation financing from $5000 to $50,000,000 request sizes. With an in house lending platform backed by a table funding relationship with an alternative equipment lender to over 100+ partner lenders Rainstar Capital Group is well positioned to assist you in financing your equipment request.
Normally the reasons that trucking/transportation transactions do not get completed are:
Borrower's Cash Flow is not strong enough per the lender's requirement
Borrower does not have enough of a down payment per the lender's requirement
Age of the truck or vehicle- some lenders do not lend on older trucks
Equity position in the equipment is not acceptable to lender's requirement
Borrower's expectation of rate vs rate lender is willing to give per borrower's credit profile
Borrower's credit score does not meet lender's requirement
Truck Owner does not own a home
Please review the presentations below to outline how Rainstar Capital Group addresses these situations:
Types of Financing
Please review the presentations below to learn more about our different equipment financing solutions:
Documents needed
Rainstar Capital Group has developed a robust debt advisory platform with lenders that finance all types of equipment. Please review below to get a sample size of different equipment lenders we have on our platform. To contact us to apply for Equipment Financing we will need the following:
Signed Application
6 Months Business Bank Statements
Quote/Invoice
Credit Report
Equipment List (Currently Owned)
*Other documents may be requested depending upon amount needed
Types of Trucking/transportation Lender Programs*:
*Rainstar Capital Group makes no claim as to the accuracy of the terms of these lender programs, as the direct lenders and fund managers that work with Rainstar Capital Group at times change their underwriting criteria and their loan matrices. To the best of it's ability, Rainstar Capital Group updates these lender profiles based on information provided by the lenders. By applying for any program, the client acknowledges that the programs, interest rates, LTV's, etc. are subject to change based the lender's underwriting criteria.
Lender #1
Lender Type: B/C Non-Bank Lender
Lease/Finance: Lease Only
Amounts: 10k-300k
Min. Credit Score: 450+
Terms/ APR or Factor Rates: Up to 48 Months/B Credit Buy Rates: 24 Months .0502} 30 Months .042}, 36 Months .0381| 42 Months .0347| 48 Months .0323| C Credit But Rates: 24 Months .0543|30 Months .0465|36 Months .0416|42 Months .0384|48 Months .036
Years In Business: Any
Down Payment Required: 10% Refundable Deposit
Short/Long haul: Either
Age of vehicles: No Restrictions
Comments: Story Lender for Long Haul and Vocational Trucks
Lender #2
Lender Type: A/B Non-Bank Lender
Lease/Finance: Financing for titled equipment. Dollar buyout lease on non-titled equipment.
Amounts: 10k to 250k;
Min. Credit Score: 620
Terms/ APR or Factor Rates: 8% Maximum: 19.9%, 24 - 60 Month Terms
Years In Business: Any
Down Payment Required: Minimum 20% Down on all transactions. 25% down on Start-up's
Short/Long haul: Either
Age of vehicles: 600k Miles and Under
Comments: Home Owners Only/ NO tax liens App only up to $125k
Lender #3
Lender Type: B, C, D Non-Bank Lender
Lease/Finance: Lease Only
Amounts: 5k to 75k
Min. Credit Score: 450+
Terms/ APR or Factor Rates: 24-60 Month Terms
Years In Business: Any
Down Payment Required: 10% refundable deposit
Short/Long haul: Short
Age of vehicles: No Restrictions
Comments: No Long Haul, Owner operators.
Lender #4
Lender Type: B, C, D Non-Bank Lender
Lease/Finance: Lease Only
Amounts: 5k to 75k
Min. Credit Score: 635
Terms/ APR or Factor Rates: 18-48 Month
Years In Business: 2+
Down Payment Required: Min 10%
Short/Long haul: Short
Age of vehicles: Year 2000 or Newer
Comments: 4 hour turn around, Story Lender, Startups need 20% down.
Lender #5
Lender Type: Non-Bank Lender;
Lease/Finance: Both
Amounts: 25k-1M
Min. Credit Score: 600
Terms/ APR or Factor Rates: 7-13%, 12 Months – 84 Months
Years In Business: 2+
Down Payment Required: 0-25% new starts always 20% minimum
Short/Long haul: Either
Age of vehicles: No Restrictions
Comments: Prefer fleets of 5 or more.
Lender #6
Lender Type: Non-Bank Lender
Lease/Finance: Lease;
Amounts: 40K-750K
Min. Credit Score: 600
Terms/ APR or Factor Rates: 24-60 Month Terms
Years In Business: Any
Down Payment Required: 10-25%
Short/Long haul: Either
Age of vehicles: 10 Years old or newer.
Lender #7
Lender Type: Non-Bank Lender
Lease/Finance: Both
Amounts: 20K-500K
Min. Credit Score: 600
Terms/ APR or Factor Rates: 24-60 Month Terms
Years In Business: 2+
Down Payment Required: 10-25%
Short/Long haul: Either
Age of vehicles: 10 Years old or newer
Comments: Currently not financing Owner Operators outside of California, Vocational Trucks are done but not in Louisiana, 4 trucks or more, No startups, want at least 2 year operating experience, no vehicles 10 years or older.
Lender #8
Lender Type: Non-Bank Lender
Lease/Finance: Both
Amounts: 10K-75K
Min. Credit Score: 600
Terms/ APR or Factor Rates: 24-72 Month Terms
Years In Business: 2+
Down Payment Required: 0-25%
Short/Long haul: Either
Age of vehicles: 10 Years old or newer.
Lender #9
Lender Type: Non-Bank Lender
Lease/Finance: Lease
Amounts: 20K-1M
Min. Credit Score: 620
Terms/ APR or Factor Rates: 24 – 60 Month Terms
Years In Business: 2+
Down Payment Required: 0-25%
Short/Long haul: Either
Age of vehicles: 10 Years old or newer.
Lender #10
Lender Type: Non-Bank Lender
Lease/Finance: Both
Amounts: 10K-400K
Min. Credit Score: None
Terms/ APR or Factor Rates: 17% - 45%, 36 is our general term
Years In Business: Any
Down Payment Required: 40 - 50% cash or collateral
Short/Long haul: Either
Age of vehicles: No Restrictions.
Lender #11
Lender Type: Non-Bank Lender
Lease/Finance: Both
Amounts: 20K-500K
Min. Credit Score: None
Terms/ APR or Factor Rates: 24-36 Month
Years In Business: Any
Down Payment Required: A wire of $1,500 that covers inspections and appraisal and the rest goes back into the loan, also we require 1st and last payments for the down payment (if they can't do a 1st & last then we can adjust the loan so there is nothing to put down)
Short/Long haul: Either
Age of vehicles: 10 Years old or newer
Comments: They don't do deals with owner operators.
Lender #12
Lender Type: Non-Bank Lender
Lease/Finance: Both, but prefer to finance
Amounts: 45K Max
Min. Credit Score: None
Terms/ APR or Factor Rates: Approx. 20% - 45%, 24 months to 60 months
Years In Business: Any
Down Payment Required: Minimum 25% down for a truck priced fairly by the seller. If underpriced or overpriced, we'll adjust
Short/Long haul: Either
Age of vehicles: Nothing over 700K+ Miles
Comments: Client must have a commercial Driver’s License.
Lender #13
Lender Type: Non-Bank Lender
Lease/Finance: Lease
Amounts: 5K-250K
Min. Credit Score: 650+
Terms/ APR or Factor Rates: 7% - 16%, 36-60 Months
Years In Business: 2+
Down Payment Required: 1 or 2 advance payments, sometimes a down payment could be required
Short/Long haul: Either
Age of vehicles: No Restrictions
Comments: Need 3 trucks in a fleet. If they don’t meet the fleet requirements and only have 1 truck and getting their 2nd we can consider, but they must be a homeowner and have a hauling contract in place.
Lender #14
Lender Type: Non-Bank Lender
Lease/Finance: All transactions are true leases with FMV EOT Option not to exceed 10%
Amounts: 40K-2.5M
Min. Credit Score: None
Terms/ APR or Factor Rates: Buy rates are in the teens before any points to your firm are added, 12 to 60 Months
Years In Business: Any
Down Payment Required: Any cash in a transaction is treated as a security deposit, not a down payment
Short/Long haul: Either
Age of vehicles: No Restrictions.
Lender #15
Lender Type: Non-Bank Lender
Lease/Finance: Typically finance for titled vehicles
Amounts: 10K-500K
Min. Credit Score: 685
Terms/ APR or Factor Rates: Standard rates are in the upper 20’s. We take a common sense approach. We don’t have black & white guidelines but will take into account the age and the miles. We are not very interested in million-mile trucks without major work having been done
Years In Business: 5+
Down Payment Required: Our standard terms include 1 advance plus 10% Security Deposit. Deals for stronger credits and strong assets may require less, but conversely, weaker deals may require more. Keep in mind that we look at the trucking industry as a tougher industry as well.
Short/Long haul: Either
Age of vehicles: 800K+ Miles Gets Reviewed
Comments: Short haul is looked upon more favorably than OTR (long haul) - info/story/contracts regarding the work being done is very helpful. Must be a homeowner.
Lender #16
Lender Type: Non-Bank Lender
Lease/Finance: Both
Amounts: n/a
Min. Credit Score: n/a
Terms/ APR or Factor Rates: n/a
Years In Business: n/a
Down Payment Required: n/a
Short/Long haul: Either
Age of vehicles: 10 Years old or newer.
Lender #17
Lender Type: Bank
Lease/Finance: Lease
Amounts: 20K-500K
Min. Credit Score: 620
Terms/ APR or Factor Rates: 24-72 Month Terms
Years In Business: 2+
Down Payment Required: 0-25%
Short/Long haul: Either
Age of vehicles: 10 Years old or newer.
Lender #18
Lender Type: Bank
Lease/Finance: Both
Amounts: 20K-500K
Min. Credit Score: 650
Terms/ APR or Factor Rates: 24-72 Month Terms
Years In Business: 2+
Down Payment Required: 0-25%
Short/Long haul: Either
Age of vehicles: 10 Years old or newer.
Lender #19
Lender Type: Bank
Lease/Finance: Both
Amounts: 20K-500K
Min. Credit Score: 620
Terms/ APR or Factor Rates: 24-60 Month Terms
Years In Business: 2+
Down Payment Required: 0-25%
Short/Long haul: Either
Age of vehicles: 10 Years old or newer.
Lender #20
A multifaceted company that provides a complete suite of financial services, logistics and back office support to customers and partners. They offer exceptional integrated transportation and financial services through the utilization of sophisticated technology solutions, quality personnel and 60 years of combined industry experience. (Note: Only does AR lending on trucking)