Finding the right type of commercial truck financing for your business can be a very big challenge in today's world. Not only are there so many frauds and poor options, but it can be difficult to choose the right financing company for you and your business, even from among the more trusted corporations. However, one name that shows up again and again when looking into commercial truck financing is that of Firstmark Financial.
The company was first created in 2000 as a premier equipment leasing and finance group. Its purpose was to cater to trucking outfits and contractors. During that time, the company also decided to branch out and extend its services to various other fields as well. Some industries that Firstmark Financial reached out to where material handling, industrial, medical, aircraft, trucking and transportation and information technology. Firstmark Financial proudly has decades' worth of experience financing these respective fields.
The company was first founded by Mark Bustillo. The owner has an impressive experience of nearly 3 decades in the financial service industry. He also has a Bachelor of Science Degree in Business Administration and Finance. Furthermore, the founder also has a diverse corporate history and has worked for a large number of firms in many different positions primarily relating to finance. Both these factors have given him theoretical and experiential knowledge of the field. As a result, he knows well what the clients need in order to expand their businesses.
Mark Bustillo and his company, Firstmark Financial, have served businesses belonging to a wide range of industries. The owner’s expertise and the company’s competent and skilled employees ensure that they are always available to provide their clients with all the financial and knowledge resources they need to improve their business.
The various industries that Firstmark Financial services include the trucking and transportation industry, survey industry, construction industry, material handling and industrial sector and medical, dental and optometry and the aviation industries.
The company operates not only in The United States but also in Canada. It helps finance various trucks and trailers all across these two countries. These financing services are available for both small and big trucking companies alike. As a result, the company naturally has a very large base of clients to deal with in both countries and in various industrial sectors.
Firstmark Financial offers a large range of services to its client base. These services include cash-out financing, new business launches and strategic planning and consultation. Furthermore, the company offers financing services that can help the owners of commercial truck businesses further strengthen their business.
The services offered by Firstmark Financial for commercial truck financing include working capital and cash loans, and most importantly, equipment financing and leasing. These services act as important resources that can help commercial truck business owners add new vehicles to their fleet, maintain old ones, improve the operations and logistics of their company and fulfill other needs.
The company is greatly skilled in offering competitive fleet financing to trucking companies that are already established. As for those trucking companies that are just starting out, the company offers start-up financing to owner-operators that are qualified.
At Firstmark Financial, the team offers their clients a wide array of truck choices to choose from. However, the company is most famous for offering its financing services to specialty trucks. These trucks can include dump trucks, water transport trucks, fuel delivery trucks, service trucks, rollbacks and basically any other truck you need to start or expand your commercial truck business.
The company has a motto that if you're driving it or pulling it, then they can finance it. Besides specialized trucks needed for commercial use, the company also offers financing on vehicles like low boys, reefers, carriers, pneumatic trailers, hoppers and anything else in between that you can think of.
Therefore, keeping these factors in sight, users can safely say that Firstmark Financial is an extremely diverse company when it comes to providing financial services. This also holds true because the company caters to a large range of industries and has a significant variety of services it offers. Furthermore, the company also has a wide range of vehicles that it finances for its clients.
“The company has a motto that if you're driving it or pulling it, then they can finance it”
Who Should Apply for Commercial Truck Financing with Firstmark Financial?
Firstmark Financial serves a large range of industries and has a wide variety of services and financing options that its customers can choose from. These factors make the company a great choice to go for, for different individuals belonging to different industrial sectors, looking for financing and services that can cater to their particular needs.
For starters, Firstmark Financial is deeply invested in providing its customers with nothing but the best. The company strives to make its products and services the most affordable in the market and also the easiest to acquire. Everyone wants a financing service that looks out for them, comes at a reasonable price, and is easy to attain. Firstmark Financial is a great way to tick all these boxes if you're among such people. You will be dealing with a sincere company that provides satisfactory financial and provisional service when it comes to commercial truck financing.
Other than individual clients, Firstmark Financial is a great option for vendors as well. A partnership with Firstmark Financial can serve the vehicle vendors selling commercial trucks really well. This improvement in sales is possible because the company has its partner's, along with the partner's clients' best interests at heart.
Below we have given a list of reasons why vehicle vendors should consider applying for a partnership with Firstmark Financial. However, this will invariably also be a list of who should apply for commercial truck financing with Firstmark Financial, as the partner's interest and its clients' interest are all the same as Firstmark Financial.
- Firstmark Financial is a good option for any vendor who is looking to increase its sales margin. The reason behind this is the company's financing strategy. At Firstmark Financial, the team offers financing options on a large variety of equipment. This equipment can range in prices from $10,000 to $1M.
As a result, the equipment and products offered by the company are extremely affordable. This affordability is great because it gives the client base of the vendors, and the clients interested in directly working with Firstmark Financial as well, a large range of commercial truck options to choose from depending upon their budget and needs.
The availability of reasonably priced options is an attractive feature that encourages the customers to seek finances from Firstmark Financial instead of seeking out competition companies that may offer better payment terms and more features. By securing clients and doing successful business with them, Firstmark Financial is able to significantly increase the partnered vendor's sales margin.
- Another reason why vendors should consider forming a partnership with Firstmark Financial is that the company has a specialized sales team that works hand in hand with the vendors to create the best possible experience for their customers. One special feature that is offered by the team at Firstmark Financial is the creation of financial programs that are customized according to the desired result.
Therefore, the team works with the vendors to come up with the perfect promotional plan for them. These promotional plans have already been proven to work!
The company also supports its vendor partners by offering them additional benefits such as trade show staff and support. These features work to create a successful business relationship of trust between the vendors and their clients and ensure the clients that they are in good hands.
- One of the biggest hassles that vendors and clients alike face when it comes to financing is approval from the desired company. A delay in approval can greatly inhibit the sales process and create dissatisfaction within the clients.
So, if you want to avoid the long and tedious application process, then you should consider going for Firstmark Financial. The application process at the company is extremely easy and does not take much time at all. Furthermore, the company also has a fast response rate.
By going to Firstmark Financial for your commercial truck financing, you can expect amazing rates, an easy application process and impressively quick approval. The company even offers products that are up to $100,000 in price, and all you have to do to get them is fill out a one-page long application form. The team at Firstmark Financial even responds with an approval in as little as 2 hours.
“The company strives to make its products and services the most affordable in the market and also the easiest to acquire”
How Do You Qualify for Firstmark Financial Commercial Truck Financing?
As far as we have scoured the official Firstmark Financial website, we could not find any particular criteria that the company has specified that its customers need to meet for them to increase their chances of being qualified for financial services.
However, the company does have a program known as QuickStart that is meant for business start-ups in the truck and trailer business. The company provides truck and trailer financing to those looking for it in the commercial truck business.
In order to begin this process, the company looks at the driving experience of the applicant and how much knowledge they have in the field of commercial trucking. The company then translates the experience and knowledge into approval for financing your commercial truck business start-up.
Therefore, the more experience and knowledge you have, the more likely it is that the team will approve your application for commercial truck financing at Firstmark Financial. As soon as you are approved, the company will finance your truck and get you running in the business in no time.
However, as far as already established businesses are concerned, there is nothing on the website about the criteria such businesses should meet to be approved for commercial truck financing by Firstmark Financial.
When approaching Firstmark Financial for commercial truck financing, some things you can keep in mind are your credit score, the amount of financing you will need, and for what purpose. Furthermore, it will also be helpful to already know the kind of truck you want and whether it can be pre-owned or brand new. These are just some general criteria for financing companies deciding who they want to finance and through what program. The same criteria may set the terms of application approval at Firstmark Financial.
Firstmark Financial Loan Application Process
The finance application process at Firstmark Financial is extremely easy and convenient. The company has an online form available on its website that the applicants can fill in only a few minutes. To some people's confusion, there are two different online application forms available on the website. One is a quick application form, and the other one is a full financial application form.
Both the quick application form and the full financial application form serve a similar purpose. However, the quick application form helps speed up the application process. The fast and easy application process is a great convenience the company has provided to its applicants to help save their time.
Below, we have given a complete description of the quick application form:
- The quick application form is available on the company's official website, and it can be easily accessed using an online link.
The application itself consists of a very limited number of fields that need to be filled by the applicant. The information required in these fields is also very basic in nature.
- The first few fields in the form require the applicant's personal information. The first requirement is the name of the participant. Both first names and last names have to be filled in separately. Next, the applicant has to fill in their email address and phone number in their respective fields.
- After this, the fields requiring information pertaining to the business and what the client is interested in getting come in. The first field that needs to be filled in this subsection is the type of business the client has. After this, the next field asks the client what they are interested in buying. After this, the client has to fill in what they think the estimated cost of what they want to buy will be. Furthermore, they also have to enter their estimated personal credit score.
- While the form seems easy to fill, the company makes the filling process by not requiring the client to fill every field. Clients only have to fill in the fields asking for their name, email address, the type of business they own, what they are interested in buying and what they think the estimated cost of the product will be.
Fields requiring the client's phone number and estimated personal credit score won't necessarily need to be filled by the applicant.
- At the end of the application, there is a CAPTCHA that marks the end of the application process.
- After this, the applicant just needs to submit the application form and wait for the company to respond. According to the official company website, its team responds to the applicants within 4 hours.
However, if the applicants choose to, they also can fill out and submit the full financial application online. Below we have provided you with sufficient details about the Firstmark Financial full financial application form.
- The full financial application form is available on the official website of Firstmark Financial. This form can be conveniently accessed using an online link.
The full financial application form is significantly longer and more time-consuming than the quick application form. The form consists of seven different steps. You can only go to the next step if you have filled all the required fields in the previous step. The first step only makes up about 14% of the entire form.
- The first step requires information about the lessee or the purchaser. The step does not require the applicant to fill in much personal information, and the majority of the information required is related to their business instead.
- The first field that is required by the form is the company name. After this comes the Doing Business As, or DBA, section. This field is not mandatory to fill. However, it needs to be filled out by applicants whose business operates under a name different from the legal name of the company entered in the mandatory field before. The next field on the form is the Federal Tax ID.
- After this comes the address information of the company. The part requiring address information is a very detailed field as it requires the street address, address line 2, the city in which the company is based, the state, province or region, the ZIP code and the country in which the company is based.
- After this, the applicant will have to enter the company's phone number.
- Next, come to a few sections containing personal information. The first field the applicant has to fill in is the contact name. This field requires separate first and last names. Next is the contact information of the applicant. Fields like the applicant's phone number and email address need to be entered.
- Once again, after this comes business-related information. However, this information is not mandatory to fill. The fields that have been mentioned include information related to fax, a description of the business, the amount of time spent in business under the current ownership and the type of business it is.
- After filling all these required information fields, the applicant has to click next and move on to the next step of the full financial application. The applicant has to fill in all the information required in all seven steps by following a similar process.
- Once the full financing application is complete, the applicant will have to submit it and wait for the company to respond.
The company mentions that they are quick to review all the applications on their website. Furthermore, they are also fast when it comes to approving the application. Therefore, you can say that the application process at Firstmark Financial is pretty easy and does not take a lot of time and effort.
“The company translates the driving experience and knowledge into approval for financing your commercial truck business start-up”
Firstmark Financial Commercial Truck Financing Interest Rates
Once your application is approved, and your desired company has financed you, you can expect interest to be charged on the amount of money you have borrowed from the company. The same is the case when you approach Firstmark Financial for commercial truck financing.
The amount of interest charged on commercial truck loans is very wide in range, and there is no fixed number. However, some general factors serve as the criteria on which the rate of interest charged is decided. One of these factors can be the credit score of the individual or business applying for commercial truck financing. Other than credit score, the health of the individual also has some influence on the amount of interest charged.
Another extremely important factor is the truck you want to loan and the physical condition it is in. For example, a newer model commercial truck is likely to have a higher interest rate charged on it than an older one. Similarly, a used truck is bound to have a much lower interest rate charged on it when compared to a new one in a better condition and more advanced features.
Furthermore, the percentage of interest charged also varies from company to company and the policies they have in place.
All this said, we could not be sure about the percentage of interest charged on commercial truck financing at Firstmark Financial because nothing regarding interest has been stated on their website.
Therefore, if you are interested in knowing the amount of interest the company charges, you can directly contact them on their official number and email address for more details. Furthermore, if you have any more questions, then you can also visit the company's official website and do your own research on them for your satisfaction.