Find By Machine
Find By Application
Financial Services
|
Financial Services Summary
Sencorp, Inc.
Financial Services Summary
| Credit Application
| Finance Calculator
- Program Goal:
- To provide competitive equipment financing to Sencorp's customers who desire financing for equipment with a purchase price of $10,000 or greater which meet Sencorp underwriting criteria.
- Structure:
- Transactions will typically be structured as finance leases (i.e. fully amortizing with $1.00 residual).
- Transactions <$100,000: a 36 month finance lease option.
- Transactions >$100,000: a 60 or 84 month finance lease option.
- Credit Submittal:
- Transactions <$150,001: Completed Sencorp credit application and Sencorp invoice.
- Transactions >$150,000: Completed Sencorp credit application, Sencorp invoice, last three year end financials, a recent interim financial and an up to date signed personal financial statement.
- Sencorp Underwriting Standards:
- Customers should be in business at least three years, have more than three employees and have no existing term debt with payments over 60 days late during the past 12 months. Customers should have a clean
credit history, including but not limited to no major suits, liens or
judgments (prior bankruptcy, etc.)
- Rates:
- Transactions under $100,000: 10.31%
- Transactions over $100,000: 8.2%
- Interest rates are subject to change without notice based upon market conditions.
- Interest rates noted above will be locked at approval for 60 days. If the transaction has not closed within 60 days of approval the interest rate will be adjusted at closing to preserve the interest rate spread over US Treasuries at approval.
- Funding of Sencorp's required progress payments is offered to approved customers under an interim funding agreement. Interest will be charged to the customer at a rate of Prime +2.00% on a monthly basis on any funds disbursed under the interim financing agreement.
Apply Now!
|
| |
|
|