Online Application FAQs
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Who can apply?
Businesses of all types are eligible to apply for financing with us. Our commercial customers include sole proprietors, established companies, limited liability companies, new business and start up organizations.
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What do I need to apply?
PEAC Solutions’ online application is a simple application. You can apply in less than five minutes. For companies in business for fewer than five years: it is encouraged you provide the owner’s name and social security number for credit review.
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What are your qualifications for approval?
PEAC Solutions has programs available for a wide variety of credit types including well-established businesses as well as start-up companies.
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What are your rates?
The rate you get approved for is subject to a combination of factors, including but not limited to: your business credit. how long you’ve been in business. your personal credit. how much you’re looking to borrow, and for how long. We have access to some of the most competitive rates available. We will do our […]
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How long does it take to get financing from PEAC Solutions?
Once you apply, PEAC Solutions will typically notify you or your dealer about your approval after 2-4 business hours.
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Can I finance multiple pieces of equipment (or software, etc.) at one time?
We can finance your entire purchase, regardless of how many items you need to buy. Use the slider on our online application to select the estimated total amount of the purchase you have in mind. You will need to provide details of individual items on your application.
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What else can I finance besides my equipment?
You can bundle in additional costs such as installation, extended warranty and delivery as part of your total equipment cost. PEAC Solutions also offers a working capital loan to cover costs that can’t be included in your equipment financing.
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Do you provide financing to startups?
We typically require companies to be in business for at least two years to receive a Working Capital Loan. Startup business with at least six months of history may qualify for equipment financing, so please complete an application to proceed.
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How is my quote calculated?
The estimate you see after using our calculator is based on an average credit rating. When you actually apply for financing with us, there is potential for qualifying for different programs at PEAC Solutions. We’re able to work with a wide range of credit ratings, which allows us to offer financing to those who might […]
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Will my final monthly payment be different from my quote?
The quote is meant to give you an idea of what your monthly payments could be. When you apply, other factors including but not limited to length of time in business, credit history and ratings help us determine what an actual payment would be.
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When would my bill be due?
Generally speaking your first invoice generates due 23 days after your documentation is complete. Other factors contributing to your due date include invoicing, your ACH or autopay settings, and your supplier’s delivery preference. Be sure to complete all of your documentation steps in a timely manner to ensure you don’t miss your first payment.
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What's the difference between pre-approved and qualified offers?
Both pre-approved and pre-qualified offers are based on your business’ prior history with PEAC Solutions and recent credit information. Pre-approved offers are currently available to select customers only for equipment financing and reflect a high likelihood of approval for qualified equipment purchases up to the amount indicated. Pre-qualified offers reflect our initial estimate of the […]
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Why is my pre-qualified offer larger than my pre-approved offer?
Pre-qualified offers are an initial estimate of the amount of financing we expect to be able to provide based on information available to us before you apply. Your final loan amount may be higher or lower than your pre-qualified offer, depending on the information provided in your application.
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How short or long are your payment terms?
Our terms typically range 24-60 months for our equipment financing solutions. Our Working Capital Loan product is short term and typically less than 24 months. Contact your sales representative, who may have more information on other term options available.
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When would I receive my equipment (or software)?
PEAC Solutions’ entire process can take less than a day. However, we only cover the financing part of your purchase. For information about delivery, availability, and lead time, please check with your supplier.
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I'm pre-qualified or pre-approved for equipment financing. So why can't I apply for a Working Capital Loan?
Possibly. Unfortunately, based on the information we available to us, sometimes your business is not eligible for our working capital loan product. You can apply for equipment financing if you are planning to purchase any equipment that can be financed. If you find that you are unable to apply for our working capital loan and […]
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Can I apply for more than my pre-qualified or pre-approved amount?
Our offer amounts are indicative of the amount of financing we expect to be able to approve, before reviewing your actual credit application. We may be able to approve your business for financing above these amounts, but may require additional information, including recent bank statements or financial information. Please contact your PEAC Solutions Sales Representative […]
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Can I apply for financing before selecting an equipment dealer?
Yes, you can apply and be pre-approved for financing while you are still shopping for equipment at various dealers. Please enter “Unknown Dealer” in the Equipment Dealer Name field. You will be required to provide dealer details later in the process. Please note that your selected dealer will need to be reviewed before the loan […]
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Can I apply if I have existing working capital loans?
If you have existing working capital loans, you may still apply. If approved, you will need to provide details of existing working capital loans and a portion of your loan amount will be used to pay off existing working capital loans.
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What if I have multiple banking accounts?
Please provide the bank statements from the primary business checking account for your business that shows your business’s revenue and cash flows. If your business income is split across multiple bank accounts, please call your PEAC Solutions Sales Representative to provide bank statements from additional accounts.
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I'm a sole proprietorship. Can I use my personal checking account?
We require that you provide statements from a business checking account to apply for a working capital loan. This must also be the account that you will use to make automated payments on your loan.
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What file size and file format do you accept?
We would prefer a PDF file downloaded from your online banking portal. Scanned or photographed statements may cause a delay in processing your loan. The maximum file size is 15MB.
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Can I provide you with online access to my bank account?
We do not currently provide this feature. We are working on implementing the ability for customers to provide bank statements by authorizing a one-time direct connection to their online bank statements.
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Why can't I change my email address?
Unfortunately, we are unable to change your email address while an application is in progress. You will be able to update your email address by calling your sales representative once you submit your application.