MachineryTrader

Funding Fact Sheet
Pricing for All Types of Deals.

 

Asset Type: Yellow Iron

Grade Down Payment** Term (Months) Advances Credit Grading Rates*
A+ 20%
10%
0%
72 0 N/A 6.49%
A 20%
10%
0%
60 0 half grade
half grade
N/A
8.49%
B+ 20%
10%
0%
60 1 full grade
half grade
N/A
12.99%
B 20%
10%
0%
55 1 full grade
half grade
N/A
14.99%
C+ 20%
10%
0%
55 2 full grade
half grade
N/A
19.99%
C 20%
10%
0%
42 2 full grade
half grade
N/A
26.99%

* Rates and terms above may vary and are subject to approval of credit, equipment and supplier. The Rate does not include additional fees, costs or advance payments (if applicable) and are for informational purposes only.

** If down payment made to Currency, eligible for a rate decrease. Proof of down payment required.

Asset Age

Rate

10-15 years

3% increase

15+ years

4% increase

Minimum Stips Requirement for Funding from Vendor

  • Final invoice
  • Payment instructions
  • Title copy (back & front) with reassignment
  • Owned title, bank payoff letter (aka lien on title)
  • Is an auction house, consignment agreement on all items

Minimum Stips Requirements from Customer (All Grades)

  • Valid driver's license
  • Proof of ownership
  • Proof of time in business
  • Down payment (if not $0 on frontend submission)
  • Business voided check (personal check for dba's & consumer only)
  • Proof of insurance (titled transactions)

Grade C+ | C

For all C+/C approvals, if the loans listed on personal credit report are joint with a primary guarantor, the same primary guarantor is required to sign the loan by Currency as well.

Applications Under Review:

If the application is pending, a manual review will take place by a credit analyst. Additional documents including but not limited to the ones mentioned prior may be required.

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