Application-Only Program

With our Application-Only program, you can apply for a loan or a lease from the comfort and privacy of your own home or office (no tax returns or financial statements required).

Choose a term between 24 and 72 months and finance (new or used) equipment, vehicles, furniture, and even software between $5,000 and $150,000.

Approvals are issued virtually instantaneously, and Crest Capital can provide the funding for the seller(s) of your choice within 24 hours.

Basic Structures include:

EFA (Equipment Finance Agreement) is essentially a loan offering a fixed monthly payment that does not fluctuate with increases by the Federal Reserve. You own the equipment and we release our security interest at the end of the finance term. No blanket liens or compensating balances like a typical bank loan.

$1 Purchase Option (commonly referred to as a lease-purchase) offers a fixed monthly payment and you own the equipment at the end of the lease term for $1.

10% Purchase Option offers a fixed monthly payment as well as a fixed purchase option. Your end-of-lease options are to purchase the equipment at 10% of its original cost, renew the lease, or return the equipment to Crest. You may also apply to upgrade to new equipment.

FMV (Fair Market Value) Purchase Option offers the lowest fixed monthly payment, and payments are usually 100% tax deductible. At the end of the lease, you can purchase the equipment at fair market value, renew the lease, or return the equipment to Crest. You may also apply to upgrade to new equipment.

PUT (Guaranteed Purchase Agreement) provides a guaranteed purchase price for the equipment at the end of term. You can choose a purchase price that is fixed at a certain dollar amount, or choose a range between a fixed minimum or maximum amount (Min-Max). The larger the Balloon payment, the lower the monthly payment.

TRAC Lease (Terminal Rental Adjustment Clause) provides a guaranteed purchase price for titled vehicles and/or trailers at the end of the lease term (similar to a PUT described above) and otherwise complies with true lease requirements according to IRS rules. At the end of the lease term, you may either purchase the vehicle for a fixed price, or sell the vehicle to a third party. If you sell the vehicle to a third party, you retain any excess over the purchase option amount. However, if the vehicle is sold below the purchase option amount, then you must pay the leasing company the difference between the sales price and the purchase option amount.

The above structures can be combined with the following plans:

Master Agreement allows additional equipment schedules to be added in the future, functioning as an Equipment Line of Credit.

Deferred Plans allow you to get equipment and software now without making payments for up to six months while the benefits of the equipment kick-in. Common deferral periods to choose from are 30, 60, 90, and 180- day periods.

Step-Up Plans afford you lower payments early in the finance term and higher payments later. One of Crest’s most popular programs requires only $100 at signing and $100 monthly payments for the first 6 months.

Seasonal Plans (Skip-Payments) provide for no monthly payments during seasonal businesses’ slow periods, matching payments with months when more cash is generated during the year.

Other structures are available. Crest Capital routinely accommodates Progress Payment requirements as well as other funding specifications to facilitate smooth transactions between buyers and sellers.
Please contact Crest Capital for more…