 FINANCING PROGRAMS AVAILABLE FOR THE PURCHASE OF EQUIPMENT NEW AND USED
 TERM AND CONDITIONS:
- Length of loan: Up to seven (7) years
- Interest Rate: Libor plus a percent - The additional percent is subject to the borrower economic wherewithal, as solely determined by the financial institution. The interest rate ranges between 6% and 12% however it should never exceed 12% inclusive of all fees.
- Payments: Principal plus Accrued Interest Semiannual.
- Amount Financed: 85% of the US manufactured portion; therefore, fifteen (15%) of the contract price, plus any applicable differential of the amount not qualifying as US manufactured, needs to be paid by the borrower to the supplier(s)
- Exposure Fee: Determined by the U.S. government. 100% of this fee can be financed.
- Arrangement Fee: Ranges from 2% to 4% of the loan amount and is payable to the bank upon execution of the loan. 85% of this fee may be financed.
TERMS AND CONDITIONS FOR THE PURCHASE OF EQUIPMENT (NEW & USED) BY STOCKING DISTRIBUTORS:
- Length of loan: Initially 180 days line of credit; thereafter, the line of credit gets converted to a 5 year loan on all the equipment that was not sold during the initial six month period.
- Interest rate: Libor plus a percent - The additional percent is subject to the borrower economic wherewithal, as solely determined by the financial institution. The interest rate ranges between 6% and 12% however it should never exceed 12% inclusive of all fees.
- Amount financed: 85% of the US manufactured portion; therefore, fifteen (15%) of the contract price, plus any applicable differential of the amount not qualifying as US manufactured, needs to be paid by the borrower to the supplier(s)
- Exposure Fee: Determined by the U.S. government. 100% of this fee can be financed.
- Arrangement Fee: Ranges from 2% to 4% of the loan amount and is payable to the bank upon execution of the loan. 85% of this fee may be financed.
FINANCIAL INFORMATION REQUIRED BY THE U.S. FINANCIAL INSTITUTION:
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Copies of your company's financial statements for the past three years.
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If the amount requested exceeds one million dollars the financial statements must be audited with accompanying notes.
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If the amount requested is less than one million dollars the statements do not need to be audited, however they need to be accompanied with the proper notes.
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The loan guaranteed programs, in most cases, do not need to be collaterized; Therefore, these financial guarantors place a great deal of emphasis on the borrower being able to repay the loan from cash flow. Therefore, in order to accurately calculate cash flow it's essential that the Current Liability section of the Balance Sheet include the "Short Term" portion of the long term debt.
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Interim financial statement (if more than four months have elapsed from fiscal year-end)
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Copies of company's income tax returns for the past three fiscal years.
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Copies of the company's Articles of Incorporation.
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Three current trade references
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One current Bank Reference.
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