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| Once the application is received in house we pull a personal credit bureau report and also a business credit report to review for strengths and weaknesses. Once our analysis is complete we then formulate a plan of action needed to arrive for an approval. If no other information is needed and a credit decision is returned approved, then a Terms Sheet is issued which shows the monthly payment and other terms. |
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| For those more difficult credits, we work closely with the customer to understand their financial situation, which can include their income, current contracts, assets, liabilities, and bank statements. We carefully review and perform an assessment on the applicant to determine which type of structure will most likely result in an approval on terms acceptable for the customer. |
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| The Term Sheet has very specific information which includes the monthly payment, number of payments, down payments or advance payments needed, residual, if any and end of term obligations. This is carefully reviewed with the client and once they fully understand the terms and obligations we then originate the documents. |
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| We can either overnight the documents or email to the customer or vendor. Final review and signatures are then obtained. Funds are usually then wired to the vendor’s bank. |
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| Financing arrangements must be handled in a professional manner because it requires trust, honesty and relationship building skills. The discussion of a customer’s credit is a very private and personal matter. If a customer feels at all uncomfortable during the process, it may mean a lost opportunity. |
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| At PADE Financial, our team has the experience, knowledge and professionalism to provide you with a team committed to your business success. |
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