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Preferred Capital Funding Commercial Truck Financing

Preferred Capital Funding, always ready to help your commercial trucking business to establish, improve themselves, and stay above the competition.

Preferred Capital Funding is a financing company based in Lilburn, United States. The company is run by an award-winning team that helps the customers get the best financing deals in the easiest way possible.

Shira Mizrachi Preferred Capital Funding is a financing company based in Lilburn, United States. The company is run by an award-winning team that helps the customers get the best financing deals in the easiest way possible.
Shira Mizrachi
June 28, 2022

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The team at Preferred Capital Funding understands that the economic environment is changing, and as a result, the market is demanding more and different things. The scope of industries is changing, and some are now more profitable than they ever were before. The commercial truck industry is one of those industries growing today, and it has a very promising future in today's market. 

Therefore, commercial truck business owners and those trying to break into the industry will need a lot of funding to establish themselves, improve themselves, and stay above the competition. Preferred Capital Funding is always ready to help your commercial trucking business with this mission.

The company offers commercial truck financing so you can acquire the critical assets you need and improve your business. They claim that it is the ideal partner to team up with if you're looking for financial options like leases and equipment-based term loans. 

The team at Preferred Capital Funding serves the commercial truck industry and provides financial services to other types of businesses operating in several industries. For instance, the company also offers SBA loans, multi-family financing, small balance loan programs, construction loans, loans for convenience stores and medical programs. 

Furthermore, the company also provides its clients with programs related to hotel financing, commercial equipment financing, construction equipment financing, vacation rentals, fix and flips and commercial mortgages. 

Interestingly, the team at Preferred Capital Funding doesn't only specialize in a particular business but also in the ins and outs of that business. An example of this can be the construction business. The company provides construction equipment financing; however, it specializes in providing financing to various industries that fall within the domain of construction.

For example, at Preferred Capital Funding, they are experts in providing funding for structural street erection and rigging, wrecking and demolition, heavy highway and street construction, water, sewer and utility construction, land excavation and clearing, sand, gravel and ready mix, and commercial and residential refuse companies. All of these companies fall within the umbrella term of the construction industry.

Besides these businesses, the financing company also specializes in funding certain equipment that is useful to these businesses. Therefore, the Preferred Capital Funding team helps finance equipment such as pavers, graders, cranes, dozers, scrapers, loaders, excavators, as well as construction trucks and trailers, among other equipment.  

The company also possesses expertise in the real estate business. The team at Preferred Capital Funding can provide financing for almost any kind of property. Furthermore, they can also help you find properties that you can invest in while making sure that these properties do not exceed your budget. 

Therefore, one can say that the team at Preferred Capital Funding has experience in a large range of fields. They provide financing solutions to businesses, learn the industry's underlying aspects, and specialize in them. The company is highly specialized in many such aspects belonging to the same industry. 

Therefore, they can properly guide the clients according to their business needs and create a strong relationship of trust with the customers they finance.

“A great financing option for most businesses regardless of what industry they belong to”

Who Should Apply for Commercial Truck Financing with Preferred Capital Funding?

Preferred Capital Funding is a great financing option for most businesses regardless of what industry they belong to. However, if we only consider the commercial truck industry, businesses belonging to this industry can also benefit a great deal by partnering with Preferred Capital Funding.

Below we've given a list of all the various types of financing the company provides. As a result, businesses belonging to the industries mentioned below can benefit greatly by applying for commercial truck financing with Preferred Capital Funding:  

1. Agricultural Financing

The agricultural sector is one of the most important and lucrative sectors of the national economy. Therefore, businesses associated with it are given a great deal of importance too. If your trucking business is related to the agricultural sector in any way, then you should consider applying at Preferred capital Funding for commercial truck financing.

The company provides great financing offers to businesses associated with agriculture. It funds all kinds of commercial trucks and trailers that are used to serve this sector.

The company also provides a large variety of financing solutions to such commercial trucking businesses by allowing them to choose from fixed purchase option leases, TRAC leases, inventory finance, equipment finance agreements and other types of loans and leases as well.

These loans and leases come with flexible payment options and can be paid annually, semi-annually, quarterly, monthly, during the harvest, and can even skip some due payments.

Therefore, Preferred Capital Funding is a great financing option for agriculture-related commercial truck businesses that want flexibility in their financing program and payment plans.

2. Vocational Vehicle Financing

Preferred Capital Funding's vocational vehicle financing is one of the most important programs that commercial truck business owners can benefit from. The program is not only cost-efficient, but the company is also capable of lending almost any commercial truck that a customer is interested in. 

The company allows commercial truck businesses to lend vocational vehicles on a monthly payment basis that is easy to pay off while still keeping their business's revenue and standing in mind. Furthermore, the teams at Preferred Capital Funding claim that they are competent at helping their clients overcome limited budgets and capital so they can obtain the equipment they require.  

Therefore, this financing program is great for anyone who wants strong financial support to uplift their business while having the option to pay back the company on easy and flexible terms.

The team is able to provide its customers with a large variety of trucks ranging from bucket trucks, cab and chassis trucks, chipper trucks, box trucks, flatbed trucks, landscape trucks, concrete trucks, septic trucks, hook lift trucks, boom trucks, car carrier trucks, dump trucks, vacuum trucks, garbage trucks, logging trucks, tank trucks and reefer trucks. 

Another reason why commercial truck business owners may want to consider applying for the vocational vehicle financing program is that it offers a lot of unique and customer accommodating features that are mentioned below:

Borrower-based pricing means that the amount you have to pay for a financed capital depends upon you. The better your credit score, the better your payment.

The documentation process is extremely simple and only requires an easy-to-read one-page agreement.

The company responds quickly to its clients and makes swift credit decisions in less than 2 hours.

Preferred Capital Funding has extremely lenient payment terms for its customers. The company's clients don't have to make any advance payments, they have the option of deferred payment, and there are also repayment terms ranging from 12 to 72 months.

The company is always striving to help its customers meet their goals. Therefore, it also finances commercial trucking businesses that many other financing companies reject. The team at preferred Capital Funding also provides capital and loans to commercial truck businesses with a challenged or limited credit history. 

The company provides all-in-one financing to its customers, which means that it also covers the cost for their warranties, services, equipment, deliveries and even their training.

The team at Preferred Capital Funding is able to help their clients with private sale vehicle transactions. This help means a great deal to most businesses, as many commercial truck businesses cannot support private sales. However, at Preferred Capital Funding, the experts utilize proper documentation and verification to resolve this issue. 

At Preferred Capital Funding, customers have the option to choose flexible payment options and schedules that are in line with their commercial truck business's revenue generation and cash flow.

3. Transportation Equipment Financing

The team at Preferred Capital Funding is committed to doing the best for its customers, and therefore it provides financing on all types of equipment, irrespective of whether it is used or brand new. The company offers this financing on flexible terms as well as competitive pricing. 

Therefore, this program is great for any commercial truck business owner who wants 100% and fixed-rate financing that comes with flexible terms. This financing can be of up to $10,000,000, and the company also has a quick turnaround on applications!   

The company provides financing for medium-duty trucks, box trucks, yard trucks, dump trucks, heavy-duty class 7 and 8 trucks, and light-duty trucks, among other vehicles. The list of financed trucks and equipment also includes, but is not limited to, flatbed trucks, tow trucks, roofing trucks and garbage trucks as well.

How Do You Qualify for Preferred Capital Funding Commercial Truck Financing?

Different companies have different criteria when it comes to approving businesses for financing. These criteria depend upon a variety of factors.

For instance, many companies consider the applicant's credit score when approving them for a loan. Others may also have a set criterion for the amount of time you must have spent driving and for how long has the business you're applying for been in operation. Some companies also consider any licenses or approvals that your business might have.

All these factors have the capacity to determine what financing programs your business can qualify for. The financing programs that are available to you can, in turn, also dictate the maximum or minimum amount of financing that a company can provide to you. Furthermore, it also influences the amount of interest you will have to pay.

All this said, we could not be sure what the qualification and approval criteria for commercial truck business loans are at Preferred Capital Funding. The company does not explicitly state what criteria an applicant should fulfill to be able to avail a given program.

However, you should pay extra attention to your application and credit score when applying for commercial truck financing with Preferred Capital Funding. The quality of these factors determines the quality of the program you can land.

“The online form is extremely simple to fill out and does not take much time”

Preferred Capital Funding Loan Application Process

As far as the application process at Preferred Capital Funding is concerned, there isn't much information about it on the website. Therefore, it's apparent that the company does not have an online application system. 

However, while the actual application form may be missing, the company has an online form that helps you get started. The company provides this form to help its customers receive free advice from any of the experts present on Preferred Capital Funding's team.  

The online form is extremely simple to fill out and does not take much time either. Below, we have given a complete breakdown of it:

The first field in the form is the type of loan you want to avail. This field is filled by selecting one loan option from a wide range of already given ones. The company provides a large variety of loan options that customers can choose from, such as bridge loan, maturing loan, commercial equity loan and refinance, among many others.

This field requires you to tell Preferred Capital Funding what kind of property you need funding for. Your property can also be determined by the type of industry you work in or what kind of business you operate, as the equipment and capital you'll need are a direct result of the two factors we've mentioned.

You can select the type of property you need funding for by clicking on the dropdown option provided by the company. A range of options will be available for you then, and you can select the one that fits your needs. Some property types available in the options are agricultural use and equipment use, among many other industries and options.  

The property value field requires you to feed in what you think or know is the estimated monetary value of the business or equipment you need funding for.

This field also has a dropdown option that reveals all the monetary ranges provided by the company. The applicants have to choose the most appropriate range for their business. 

The smallest amount that a property can be worth has to be $500,000, and the most it can be is over $100 M, according to the options given in the form. 

The loan amount field is very important as it conveys to Preferred Capital Funding the amount of financing you wish to receive from them. 

This field is also supposed to be filled by selecting from a range of monetary values that are visible once you click on the given dropdown feature. You don't have to provide the exact amount of financing you require from the company and only have to select a range that entails the amount you're seeking.

According to this form, the lowest amount of loan that the company provides is $500,000, and the highest amount of financing you can choose is over $100 M.

Next, you have to tell the company a rough description of your credit history. This field too needs to be filled by clicking on the dropdown feature and selecting from the range of visible options.

When filling this field, you can choose from the given options of excellent, good, fair, poor and unsure. Select the one that is most suitable according to your credit history.

The applicant also has to enter their name in the online form. You have to enter your full name. However, you have to enter your name in two separate fields that are provided to you. The first one requires you to enter your first name, and the other one requires you to enter your last name.

You have to provide the company with your email address next. However, the form does not specify whether this field needs to be filled using the applicant's email address or the business's email address.

It's advisable to enter the email address that you're more likely to check and refresh.

You also have to enter a phone number so that the company can contact you once they have reviewed your application. Once again, the form does not specify whether you have to enter your personal number or your office number.

A general rule is to enter the number where you're more likely to be available. 

The last section of the online form requires you to tell the company of any comments or questions that you might have regarding their programs or policies. You can also enter any additional business-related information that you think is worth mentioning in this section.

The agent reviewing your application can then get back to you regarding whatever concerns or questions you may have talked about.

Once you're done filling in all the fields, you must submit the application form. You can do this by clicking on the submit button present at the bottom of the online application page.

The company also guarantees and safeguards your privacy by specifying that all the information you enter into this form will be kept private Furthermore, Preferred Capital Funding will not conduct any credit checks in response to this online application. The form and company do not ask for your social security number either. At Preferred Capital Funding, they also provide the applicants with competitive rates and free consultation with their experts without imposing any obligations on the applicants.

As far as the loan application form is concerned, the applicants probably have to fill it in person as there is no information regarding it available on the website. However, you can confirm the loan application process for commercial truck financing by directly contacting the company.

Preferred Capital Funding Commercial Truck Financing Interest Rates

Different financing companies have different policies as far as interest rates are concerned. Some companies offer different interest rates on different programs, and these rates may also vary depending upon the type of loan you're taking.

Many factors influence the rate of interest charged by a company. For instance, the applicant's credit history may influence the interest rate charged on the loan they take. 

The program they avail can also influence the charged rate of interest. There is a difference in criteria, the maximum and minimum amount of loan they offer, and the rate of interest charged when it comes to loan programs.

Furthermore, the condition and model of the commercial truck and equipment you borrow also have an influence on the amount of interest that will be charged on them. For instance, if you lease a newer model of the commercial truck or equipment you're borrowing, then chances are you will be charged a higher interest rate for it. 

The same is true if the commercial truck or equipment you're borrowing is brand new or in relatively good condition. However, you might have to pay lower interest on older models and used vehicles and equipment.

As far as Preferred Capital Funding is concerned, the interest rates are fixed. The company charges a minimum of 4.99% interest on whatever capital it provides. The interest rate charged by the company depends on your credit history and credit score, along with the application you submit at the company. 

However, the company does provide a large variety of loans and flexible payment options. Therefore, the percentage of interest charged may alter depending upon your plan and how consistently and quickly you pay your installments.

If you want to know more about the interest rates at Preferred Capital Funding, then you always contact the company directly on their official phone number and email address. Furthermore, you can also visit their official website if you have any more questions that need answering or if you're interested in doing your own research.  

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