Coastal Capital can help your start up business get the credit it needs.
Start up Working Capital
The best alternative for start up businesses looking for working capital is the Revolving Lines of Credit Program. This program provides unsecured revolving credit at great rates. The average client qualifies for $80,000 with average terms of 0% interest for the first 12 months and 10.9% thereafter. We can use more than one signer, and the business gets the aggregate total of both signer’s qualifications. Two average signers would qualify for $160,000 combined.
You will need strong credit for this type of finance, but we can use a co-signer to help if necessary. The co-signer does not have to be a partner and does not need to prove income.
Click Here to learn about the Coastal Capital Group Revolving Lines of Credit Program.
Start up Equipment Leasing
A-C Tier Credit up to $30,000. Application Only.
We have special start up equipment leasing programs for $5K to $30K for applicants with A to C tier credit. There is always the possibility of an exception on a case by case basis. This program is a simple 1 page application.
For higher amounts, with A tier credit, we recommend the Revolving Lines of Credit Program for up to $100K. If your needs are higher than $100K, you’ll need some form of additional collateral.
D Tier Credit
We can still fund equipment for a start up with poor personal credit. The key here is equity. Simply put: 50% equity will get anyone approved for up to $250,000 regardless of credit or time in business. This can be achieved with cash down, additional collateral, or a combination of both.
Start Up Owner Operator Trucking
Our Owner Operator Truck Lease program applies to all Class 8 trucks for over the road independent truckers regardless of time in business. You will need 25% cash down on a 2008 or newer truck with 700,000 miles or less. We can finance virtually any credit level on this program as long as you do not have a previous repossession.
If you have a prior repossession, we can still offer finance, but you would fall under the D Tier Credit program described above. So plan on 50% down payment for a 2003 or newer truck. The minimum transaction is $10K down on a $20K truck.