New or Used Truck Financing: How The Approval Process Works

Liberty Capital Group | Alternative Small Business LoansBusiness Loans ArchiveNew or Used Truck Financing: How The Approval Process Works



New or Used Truck Financing: How The Approval Process Works

What Is Equipment Financing?

Equipment financing is as popular a business funding as ever before however limited to specific equipment. A loan that provides capital for purchasing new or used equipment, such as vehicles, machinery or technology. Equipment loans may fund up to 100% of the value of the equipment you want to purchase, taxes, fees, registrations and delivery. These type of equipment loans are repaid over time typically no more than life of the asset 5 to 7 years on average with interest lower than merchant cash advance.

Equipment for business can be financed at any lever from software to hardware to heavy machinery. Business essential equipment can be financed under asset-based financing, which means the equipment itself is collateral for the loan. For this reason, equipment financing is often easier to qualify for than other types of small business loans. Equipment loans can be great options for startups or businesses with average or poor credit scores.

Compare multiple small business loan options at once


You simply fill out an online application or call us at 1-888-588-4128 to give us the information over the phone. The information you will provide includes:

Brief Explanation of Business
Your Entity Type
Your Annual Revenue
Requested Cash Amount
Planned Use For The Cash
Disclosure of Other Outstanding Loans
At the end of the phone call (or within three hours of receiving your online application) we’ll be able to give you a general idea of how much cash you are qualified for and what repayment terms we would be able to offer.


Within a couple of hours of the verbal explanation you will receive a formal contract along with closing documents.
Simply sign the contract and email us back the scanned documents that were requested.


Upon receipt of the documents and the signed contract, we will wire over the funds that same day, pay your vendor or seller in exchange for the title. It’s that easy!