START-UP BUSINESS INFO

YES We Can Provide Equipment Leasing
For Start-Ups & New Businesses!

About Equipment Leasing For New Businesses

Start-ups are brand new businesses that are beyond the "idea" stage and either about to open for business or that have just opened. Businesses operating 12-23 months are generally termed "new." Both start-up and new businesses have historically incorporated additional credit risk and consequently the payments may be somewhat higher and the credit standards more stringent. For most start-up applications the principals' personal credit will be carefully reviewed along with their previous earnings history.

The business "idea" and the principals' related experience will also be evaluated. However, a new business is still a new business and the business plan, no matter how compelling and the principals' experience no matter how significant, will not override inadequate personal credit.

All start-ups transactions must have a minimum of the following verifiable characteristics:

• Business Checking Account
• Business Name Corporation, LLC, Proprietorship or other name filed with the appropriate state authority
• Business Telephone Directory Listing

In addition, we will require the following on all start-up and new business transactions:

• Personal Guarantees from all owners with 15% or greater ownership.
• New Business Profile
• Detailed Equipment Description & Vendor List
• Lease Payments By ACH (Lessee must pre-authorize monthly lease payments via electronic debit)
• Signed Lease Proposal
• 1st National Capital Funding’s lease proposal will describe the terms of the lease approval we expect to obtain.
• A Good Faith Deposit (the greater of $500, or 3% of the lease request) is required to cover 1st National Capital Funding's review, analysis and due diligence on your lease request. 100% OF THE GOOD FAITH DEPOSIT WILL BE APPLIED TO YOUR APPROVED LEASE, upon funding. In the event your request is not approved, the Good Faith Deposit will be refunded in full, less $50.

Start-Up Equipment Leasing Programs -- General Parameters.

We offer 3 basic start-up lease programs:

Application Only to $30,000
1st National Capital Funding will consider start-up's for as much as $30,000, based on 1st National Capital Funding’s standard one-page application, clean personal credit and a business or personal bank reference for all owners (at least 3 month history to verify a low four-figure balance in good standing ).

Extended Credit to $75,000
1st National Capital Funding will consider requests to $75,000 with clean personal credit and the following documentation for all owners.

• Standard One-Page Application
• Personal Financial Statement
• Pro-Forma (projections) for the new business
• Last Two Years Tax Returns (call for details)
• New Business Profile

This program may offer slightly more aggressive payments on transactions between $5,000 and $30,000 as well, because of the additional financial disclosure.

Structured to $200,000, or more
We will consider larger transactions with clean personal credit, with the same details as the "Extended Credit" program and when fully collateralized with marketable securities, CD's, letters of credit, real estate, cash-value life insurance or other highly liquid assets.

Start-Up Restaurant & Retail Food/Beverage Establishments

Yes, we can even fund start-up ("ground zero") foodservice requests, subject to the following:

Start-Up Restaurant & Retail Food/Beverage to $15,000 (brand new/ground zero) Maximum term may be limited to 36 months. All owner's must have excellent credit scores (700+), clean personal credit and:

• Standard One-Page Application
• Personal Financial Statement
• Pro-Forma (projections) for the new business
• Last Two Years Tax Returns
• New Business Profile
• 10% to 20% Security deposit at closing

New Restaurant & Retail Food/Beverage Application
Only to $20,000
("New" defined as operating at least one year, verifiable).

1st National Capital Funding will consider "new" foodservice leases for as much as $20,000, based on 1st National Capital Funding’s standard one-page application, clean personal credit and a business or personal bank reference for all owners (at least 3 month history to verify a low four-figure balance in good standing). Pro-forma projections for the new business are a plus.

New Restaurant & Retail Food/Beverage to $30,000
Clean personal credit and:

• Standard One-Page Application
• Personal Financial Statement
• Pro-Forma (projections) for the new business
• Last Two Years Tax Returns (call for details)
• New Business Profile

Multiple Location Expansion, or
New Ownership of Existing Retail Food/Beverage to $75,000
Existing location must have minimum time in business of 2 years. All principals must have clean personal credit. Name, physical proximity and owners experience are part of criteria. New location will be considered at Start-Up rates. Call for specific details

New Retail Food/Beverage Structured to $200,000, or more
We will consider larger transactions with clean personal credit AND when fully collateralized with marketable securities, CD's, letter's of credit, real estate, cash-value life insurance or other highly liquid assets.