How do I apply for a Commercial Auto Loan?

• Click on Apply Now and easily fill out the application in just minutes.

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How long does it take to get approved for Commercial Auto Loan through JR Capital? 

• Approvals within 48 hours and many within 36 Hours. If your finances are in order and you can show proof of income/industry experience and have good credit.

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What if I just started my business, can I still be approved for a Commercial Loan?

• Yes, if you have a new business, but can prove industry experience of 2 years or more by providing 1099 or schedule C or proven income via bank statements, you can still be approved.

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Once approved, how soon can I take delivery on vehicle / equipment?

• Once approved, you are able to take delivery immediately, once payment is confirmed.

 

If I am new business, can I get approved for full amount?

• Yes, in most cases you can be approved for full purchase amount, as long as you meet minimum requirements. 

What if I have new business with No Credit?

• ​Expect to pay higher interest rates, but with proof of income, you can still be approved

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What does "Affordability" mean?

•  Affordability means: What can you afford without compromising quality of life; while ensuring all necessities are paid

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How do I budget for a vehicle and know that I can afford monthly payments?

• Add up your total "Net" income per month (Take home income after taxes)

• Write down an itemized list and amounts of current reoccurring necessity expenses (Examples below)​​

Expenses

Fixed

• Rent --------------$2,500 mo

• Auto Insurance -----$200 mo

• Health Insurance ---$600 mo

• Phone ---------------$60 mo

• Cable/Internet ------$140 mo

• HECO Electric Bill ----$150 mo

Variable​

• Groceries-----------$300 mo

• Entertainment ------$200 mo

• Gas -----------------$150 mo

 

Total Net Income --------$6,000 mo

Total Monthly Expenses --$4,350 mo

Remaining ---------------$1,650 mo​

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The information above is intended as educational purposes only and not financial advice. Please, consult with a CPA for specific questions