All transactions require full financial disclosure. This includes three years' worth of audits plus a current interim which includes a balance sheet and income statement. If audits are not available, ACC will require finalized copies of signed Tax Returns plus interims. The typical term can range from 24-84 months depending on the collateral. In any case if full financial disclosure, Company must cash flow existing and proposed debt 1.25x. If a storied credit, a complete narrative must accompany packet outlining challenges and what steps management has taken to correct operations.
Geographical Footprint - Nationwide
Age of Collateral - In all cases the age of the equipment PLUS the proposed term can not exceed 10 years
Corp Only - Company must be rated by D&B a 3A2 or better
Guarantor FICO Scores - Must be 675 or better
Time in Business - ACC is not in the business of approving start-ups, however if an entity is well capitalized with significant investment, ACC will review. Otherwise, ACC will review credits that are 3 year or better in business
Split Transaction - ACC recognizes that transactions may be split to limit exposure. In any case, full disclosure is required
Bankruptcy - If a guarantor or entity has filed bankruptcy within a 7-year window, this transaction may be excluded; however, each transaction will be reviewed on a case-by-case basis
Fraud - In an effort to minimize fraud, ACC reserves the right to exercise all of its tools to combat fraud, which include but are not limited to:
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