3 Ways to Get Bad Credit Skid Steer Financing | Skid Steer Loans

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3 Ways to Get Bad Credit Skid Steer Financing | Skid Steer Loans

In this video we talk about 3 ways to get bad credit skid steer financing.
I have a couple of different ways to finance a skid steer with really bad credit.
1. If you have a 40% down payment, then I can finance anybody no matter how poor your credit is........if you have a bankruptcy, if you don't have credit scores, if you're a start up OR if you're all of those and then some......40% would get you a new skid steer.

Of course, we want to get you your piece of equipment with the least amount of down payment or security deposit as possible. And, we have a ton of lenders since we work as a broker. So again, my goal is to get it done with the least amount of down payment for your skid steer. 40% down is sort of worst case scenario.
2. Let's say you don't have cash money to put down 40% for the skid steer, but let's also say you have another piece of heavy equipment that you own free and clear. Well, if you own a piece of equipment free and clear, worth $30,000 auction value, then you can pledge that as secondary collateral to get your new skid steer.
3. Let's say you don't have a down payment. You don't have secondary collateral to pledge, BUT you're in business and you're making money. As long as your credit score is 450 0r 550 or higher (depends on program), then you can potentially do revenue based funding and your credit doesn't really matter all that much. What matters the most is the revenue you're generating over the last 3 months. You may be able to revenue based funding to get the cash to buy your new skid steer.