Pre-qualify before you apply for your Loading dock loan. Our free business capital search engine will allow you to see the funding programs and lenders that are available to you and then you choose those you wish to apply for.
Applying for a loading dock loan benefits a loading dock enterprise in need of financing in order to acquire loading dock equipment, supplies and materials. Loading dock loans are special purpose loans used specifically for a loading dock business.
Loading Dock Loan Lenders
A loading dock loan can be extended through a variety of sources. These include banks, the federal government or a private lender. The private lender that makes loading dock loans available should specialize in underwriting and providing loading dock loans.
Terms and Conditions
The terms of a loading dock loan may be short or long-term, depending on the financing needs of the business. A loading dock loan can be for a period of 1 to 2 years or as long as 25 or 30 years. The length of a loading dock loan and other terms and conditions are set forth in a loan agreement. The loan agreement is the understanding between the loading dock loan borrower and lender.
Loading dock loan borrowers with excellent credit ratings will qualify for loans that have the best interest rate. A better interest rate means that the cost of the loan will be less than a loan made to a borrower with a poor credit rating. The difference in loan costs can be several hundreds of dollars between the two types of borrowers. A borrower with a low or poor credit rating should consider obtaining a co-signer or other loan guarantor in order to lower their interest rate.
Credit is the lifeblood of your business, especially for small or new startup companies. BusinessFinance.com assists entrepreneurs to get started purchasing equipment, building your inventory and expanding your business.
Some important items to know to finance your are:
- How much money do you really need?
- Do you know your exact FICO scores?
- How do you plan to repay the loan?
- Who is going to borrow the money? You personally or another legal entity?
- What assets can you pledge to secure your loan?
Make sure you know you are pre-qualified before you apply.