Application FAQs

Credit decisions can vary depending upon the individual business and its industry, credit rating, time in business, borrowing experience, etc. Similar to how you qualify for personal credit. *Note that there are times where your personal credit will still need to be considered even when you have established commercial credit. Risk-based pricing vs. pass-fail pricing […]

A Uniform Commercial Code-1 (UCC-1) financing statement is a legal form that a creditor files to give notice that it has or may have an interest in the personal property of a debtor. (A “debtor” is a person who owes a debt to the creditor as typically specified in the agreement creating the debt.)

You’ll use this letter as a checklist to make sure you are providing all the documentation we’ll need to release your funds to you.

As the lienholder for the financed vehicle, PEAC Solutions retains the title until your finance agreement is paid in full.

In order for PEAC Solutions to process the title work for the vehicle and/or trailer you’re financing, our third-party title processing company requires the original Title/MSO and an original Notarized Power of Attorney. Please work with us to help us secure these documents as soon as possible. Once we receive them, the title processing company will […]

The title will be released to you 7-10 business days after we receive your payoff. We’ll mail your title to the address on file, via UPS Ground Delivery, unless otherwise requested.

Sometimes due to Documentation and other post-approval processes, your funds can be held up if we don’t receive everything needed to release funds to you or to the vendor. That’s why it is important to refer to your cover letter to ensure you’ve completed all the post-approval steps. If the deal has funded but […]

Yes, because the type of equipment and whether it is new or used helps us determine the length of term and which financing solution works best. For example, some equipment that may not qualify for a lease could, however, be eligible for PEAC Solutions’ other equipment financing solutions. It’s always our goal to get the […]