TruckPaper

Funding Fact Sheet
Pricing for all types of deals.

 

Asset Type: Trucking Long Haul

GRADE TERM (MONTHS)* ADVANCES RATE*
A+ 72 0 7.49%
A 60 0 8.49%
B+ 60 1 12.99%
B 55 1 16.99%
C+ 48 2 24.99%
C 42 2 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.

Asset Age

Rate

7-10 years

3% increase

Funding not available for assets over 10 years old

Down Payment

Grading

10%

Half grade increase

20%

Full grade increase

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

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 (if the asset is a truck or trailer, a commercial driver's license will be required)
  • 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)
  • Proof of 3 or more power units in fleet. If less than 3 in fleet, see owner operator program details here

GRADE B+

Power of Attorney

GRADE C+

For all 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.

GRADE C

Power of Attorney

For all 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.

Asset Type: Machinery

GRADE TERM (MONTHS)* ADVANCES RATE*
A+ 72 0 6.49%
A 60 0 8.49%
B+ 60 1 12.99%
B 55 1 16.99%
C+ 48 2 19.99%
C 42 2 24.99%

(*) 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.

Down Payment

Grading

10%

Half grade increase

20%

Full grade increase

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

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 (if the asset is a truck or trailer, a commercial driver's license will be required)
  • 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.

Asset Type: Trucking Local

GRADE TERM (MONTHS)* ADVANCES RATE*
A+ 72 0 6.49%
A 60 0 8.49%
B+ 60 1 12.99%
B 55 1 16.99%
C+ 48 2 19.99%
C 42 2 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.

Down Payment

Grading

10%

Half grade increase

20%

Full grade increase

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

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 (if the asset is a truck or trailer, a commercial driver's license will be required)
  • 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 B+

Power of Attorney

GRADE C+

For all 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.

GRADE C

Power of Attorney

For all 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.

Asset Type: Restaurant

GRADE TERM (MONTHS)* ADVANCES RATE*
A+ 72 0 6.49%
A 60 0 8.49%
B+ 60 1 10.99%
B 55 1 16.99%
C+ 48 2 19.99%
C 42 2 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.

Down Payment

Grading

10%

Half grade increase

20%

Full grade increase

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

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 (if the asset is a truck or trailer, a commercial driver's license will be required)
  • 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.

Asset Type: Other

GRADE TERM (MONTHS)* ADVANCES RATE*
A+ 72 1 9.49%
A 60 1 13.99%
B+ 60 2 16.99%
B 55 2 19.99%
C+ 48 2 21.99%
C 42 2 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.

Down Payment

Grading

10%

Half grade increase

20%

Full grade increase

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

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 (if the asset is a truck or trailer, a commercial driver's license will be required)
  • 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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