from 8 AM - 9 PM ET. Buy what you want . Every year, more and more equipment and truck buyers are switching from their banks to Ritchie Bros. Financial Services to help them get what they need. David Fischer Performance Grading Inc. Florida, USA. Credit scores in the lower 600s may be accepted for this type of funding. Dadetrucking305, Jul 30 . Your equipment financing partners are ready to guide you through unpredictable times. Get the Ritchie Bros. Asset Valuator today! You must click the activation link in order to complete your subscription. Though not part of the qualification process, many lenders require borrowers to pay personal loan origination fees to cover the costs of processing applications, running credit checks and closing. Perhaps Cat Parts Catalogs to find parts specific to your Cat machine. Your email address will not be published. What buyers say about truck and equipment financing from Ritchie Bros Hi ! Unfortunately, that bank pre-approval was only built to cover a specific asset for a specific price. Startup SBA loans, for example, cater toward newer businesses and thus have more lenient credit requirements. When evaluating offers, please review the financial institutions Terms and Conditions. We would like to thank our syndicate of banking partners for their support and demonstrating their confidence in our business, especially during these uncertain times.". During prequalification, the lender typically only runs a soft credit check, which has no impact on your credit score. There are several alternative funding options that may have more relaxed minimum requirements in order to qualify although their rates and terms may not be as favorable as SBA loans. View original content:https://www.prnewswire.com/news-releases/ritchie-bros-amends-and-extends-credit-facilities-301382043.html. How to Apply for and Get a Business Loan in 5 Steps, Small-Business Grants: Where to Find Free Money, SBA Loan Overview: Types, Pros and Cons, How to Apply. Applying for less than $350,000 USD? Both options provide up to 100% financing with $0 down, low monthly payments, flexible schedules, and the ability to shop anywhere for almost anything. program functions somewhat differently than its 7(a) loan program, particularly with regard to who qualifies and the application process youll go through in order to get one.