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Truck Funding Process

What to Expect When Financing a Semi-Truck with Go Capital

Your time is valuable to us!
Time is essential in any business and every moment you are not on the road driving is an opportunity you could have been out making money and building your business. We understand that when you are looking for funding for semi-trucks and trailers you need it fast.

First, the application
To secure your approval, you will need to begin by completing our simple application form. Ninety-seven percent of our applicants are approved because we are primarily concerned about your trucking experience, not your credit. Applications are typically processed within a few hours during business days, and rarely take more than 24 hours to receive response. Once you are approved, we will need to value the vehicle you are looking to acquire so you can structure the terms of your transactions. The valuation of the vehicle will impact the size of down payments and terms available. Once the valuation is completed your Account Manager will present the available payment options to you and help to find one which will work well for your business. After the transactions structure is finalized we will send you your documents to review and sign. Once you have reviewed them, signed them and sent the document back, Go Capital will complete the funding process with the dealer. It won’t be long before you scheduling your appointment to pick up the truck and get back out on the road!

What is the start-to-finish timeframe?
Go Capital can fund as quickly as a transaction can be assessed and agreed to. This can be as quick as 1 or 2 business days from receiving your initial application, and often is most dependent on locating the right truck or trailer.
Your application will most likely be processed with 1 business day of receipt. The vast majority are able to be approved, and sometimes additional information is necessary. Once your approval has been finalized you need to select your equipment. If you already know what you want and have located a dealer who sells it, this part will go fast. After the truck and dealer is identified we will email you (or we can ship them to you physically upon request) the necessary documents to complete your transaction. Once the documents are signed by you (and any other owner you may share your business entity with) and sent back to us, we can move forward.

Funds are generally sent to the dealer within 24 hours from the moment the signed documents are returned to Go Capital.

What is the procedure like?
Our procedures are straightforward and simple. Here is an outline of what you can expect.

  1. Welcome interview
    First, we conduct a brief phone interview with you to understand the strengths of your experience and your trucking business, and your specific financing needs. Every business is unique. During the welcome interview, your dedicated Account Manager will assess your needs and your goals to structure your transaction.
  2. Approval
    While Go Capital services the entire credit spectrum our focus on challenged credit allows us to issue approvals on most applications. The second step of our financing process is securing an approval for you and placing a reserve on the funds for which you have qualified.
  3. Equipment Selection
    The semi-truck, is the reason you need financing, so of course it’s essential that you select the right one which will best fit your needs. Our process allows you to work with any supplier.
    You should select the vehicle, determine the price with the dealer and obtain a quote sheet which includes all the specifications, details and price relating to the vehicle you want. Provide this quote sheet to your Account Manager.
  4. Structure
    The equipment leases that Go Capital offers have flexibility, and their structure can be adapted to accommodate the needs of your business in a few important ways. After you have chosen the equipment, your Account Manager will structure the lease proposal bearing in mind the previously established needs and goals for your business.
  5. Documentation
    When the lease has been structured to suit your needs, our Account Managers will draft the documentation and email it or overnight hardcopies to you based on your preference. You can take the time you need to review the documentation and ensure everything is acceptable to you. If the terms are agreeable, your next step is to send the signed documents back to Go Capital along with your down payment.
  6. Funding
    Once Go Capital receives your signed documents and down payment, the funds will be issued to the supplier of the vehicle.
  7. A Growing Relationship
    With Go Capital, funding is the beginning of our relationship. Our passion and primary goal is assisting our clients in growing strong and profitable trucking businesses. We are committed to contributing to your business success. We keep in touch with our clients and support them throughout the life of their lease. We are often able to assist with additional financing as our customers steadily grow their fleet of commercial vehicles. At the conclusion of your contract, if you have paid as agreed, we will work with you to upgrade your truck into a newer model year with lower mileage, so you can keep your business healthy a reliable fleet.
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