Eastern Funding generally does not give “pre-approvals,” as we evaluate more than a potential borrower’s credit history. We are equally interested in the location of the business, its current or projected financial performance, the size of the project, and the equipment to be financed.
No. We finance equipment from all major manufacturers.
In most cases, Eastern Funding will require a minimum investment toward the purchase. Eastern Funding may also consider financing a small portion of the construction/soft costs for an established borrower. In some cases, we may accommodate requests for full invoice financing to established operators seeking to replace equipment.
Yes.
Yes, we provide financing for start-up businesses. However, we do require an investor seeking start-up capital to have adequate experience running a business, meet credit requirements, and have a sufficient investment in the project.
While Eastern Funding does not publish rates, we do offer competitive financing options and can usually match terms for special financing promotions offered by equipment manufacturers. We offer both fixed and variable rates.
For new vended laundry equipment transactions below $500,000 Eastern Funding will generally render a credit decision within 24 business hours of receiving all required information. For larger, more complex transactions, approval often depends on how long it takes to obtain all of the required information.
We offer a range of terms that are customized to your business needs and creditworthiness. We offer repayment terms from 12 months to 120 months.
Yes. We give you the flexibility to pay off your loan at any time.
Yes, but we look beyond your credit in making a decision. Your credit score is only one of the factors we consider.
Have more questions? Contact Us.
