Program Features

*Maximum loan $100,000

Standard EFA credit review model applies to the Cash-Back program, with the same pricing/tier calculations:

• Tier 1 Maximum loan amount is $100,000

• Tier 2 Maximum loan amount is $75,000

• Tier 3 Maximum loan amount is $50,000

• Up to 80% loan-to-value ratio (at underwriter’s discretion)

• Maximum term: 60 months

• 
Term may be shorter, depending on useful rite of the collateral equipment

• No advance payment required

Acceptable collateral equipment (hard assets only):

• Titled vehicles

• Yellow iron

• Construction and manufacturing equipment

If the borrower would like to submit other types of equipment as collateral, Direct Credit Funding will run comps (comparable pricing research) to determine equipment’s fair value. If acceptable value is determined (subject to underwriter’s discretion) we will grant the loan.

Any equipment submitted as collateral must be essential and relevant to operating the borrower’s business.

Unacceptable Equipment

Computers and software, restaurant equipment, medical equipment, fully-depreciated equipment. Also any equipment that cannot be valued via comp assessments at the sole discretion of Credit.

Equipment approval and valuation requirements:

• 
Condition report (year, make, model, mileage/hours, VIN/serial #’s)

• Pictures

• 
Comparable pricing ( will also conduct comp pricing research) subject to credit’s discretion

If pictures and comparable pricing are not available at the time of submissions, these will be required prior to docs being sent out - NO EXCEPTIONS.

UCC searches will be completed on all non-titled equipment. All active blanket liens will require a notarized

Program Requirements

• Hard assets only

• Minimum 3 years time in business

• Minimum 650 FICO score

• Provide the 3 most recent months of bank statements

» Minimum average month-end balances of $3,500

» Full statements may be required if underwriter deems necessary

• 
If multiple pieces of collateral are pledged to one loan, the full balance must be paid prior to releasing any of the pledged collateral

• 
For titled equipment, original title must be received prior to funding. Lender will handle the titling and will be listed as lien holder. A title fee of $275will apply. If the industry is hauling or transportation, fleet guidelines must be met.

• Insurance required on all equipment:

» DCF listed as lender loss payee on titled equipment

» 
DCF listed as lender loss payee and additional insured on non-titled equipment

» 
Site inspections will be completed on all loan requests, regardless of dollar amount

» 
If multiple inspections are needed due to collateral location, multiple site fees will apply

• Equipment proof of ownership:

» 
Acceptable proof for titled equipment: Copy of front and back of title

» 
Acceptable proof for non-titled equipment: Original bill of sale, Paid invoice, and Proof of prior insurance coverage on equipment

Fees

• $200 document fee

• $150 site inspection fee

• $75 UCC search (non-titled equipment only)

• $225 title fee (titled equipment only)

Additional fees may be incurred if:

• Deals are canceled due to the condition of the proposed collateral

• 
DCF is unable to secure a first-priority security interest in the equipment

No tax needs to be paid if the title is in 
the customer’s name. Interim rental still applies.