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Our Verdict
Looking to finance your commercial fleet? Consider TopMark Funding, a reliable choice with 20+ years of expertise. It specializes in semi-trucks, construction equipment, and commercial vehicles.
TopMark Funding offers hassle-free pre-approval in 24 hours with no impact on your credit score, making it accessible for your startup. It provides expert financial guidance for both short-term and long-term decisions. Choose from various financing options for semi-trucks, trailers, construction equipment, and commercial vehicles. Additionally, it offers business loans for quick access to up to $250,000.
However, be mindful of potential higher costs, especially if your credit score is lower. Ensure contract clarity and check if it offers your preferred vehicle and meets eligibility criteria. Stay in touch for timely communication and a satisfactory financing experience.
TopMark Funding
516 Gibson Dr Suite 160B Roseville, CA 95678, USA
https://www.topmarkfunding.com/
+1 (866) 627-6644
Pros
- Provides adaptable financing, including options such as low monthly payments and deferred payments.
- Simplifies the funding process, offering online applications and funding within 1 to 3 days.
- Maintains high ratings and earns numerous growth and excellence awards.
- Receives favorable customer feedback, emphasizing efficiency and competitive rates.
Cons
- Operates as a broker, incurring fees for linking clients with lenders.
- Lacks control over equipment quality from third-party sellers.
- Cannot guarantee financing for all vehicle types.
- Leads to high interest rates or undisclosed fees sometimes due to lender policies.
Who TopMark Funding Is Best For
TopMark Funding is best for you if you:
- Seek to work with a trustworthy and reputable company with a high rating and a great track record of helping clients grow revenues and fleets.
- Possess at least 3 years of experience with a CDL license (or are a start-up with a solid business plan).
- Require semi-truck financing or equipment financing for your construction or commercial trucking business.
- Maintain a credit score of 650 or higher for the best rates and terms.
- Are capable of providing a reasonable down payment on your truck or equipment.
Who TopMark Funding Isn’t Right For
TopMark Funding may not be right for you if you:
- Need personal or consumer financing (it specializes in commercial financing).
- Prefer working directly with a lender (it’s a broker).
- Have a credit score below 650 or a history of financial issues.
- Lack the ability to make a down payment for your vehicle or equipment.
- Have less than 3 years of CDL experience or lack a solid business plan.
What TopMark Funding Offers
Semi-Truck and Equipment Financing
Secure the wheels of your business with its funding solutions for semi-trucks, trailers, and various commercial vehicles. It offers competitive semi-truck loans, hassle-free semi-truck leases, and a suite of equipment financing options.
Dealer Partnership for Commercial Trucks
Partner with TopMark as your outsourced finance office. It specializes in the commercial truck and vehicle space, understanding both your customers’ needs and the equipment intricacies. It sources financing to help you drive your business forward.
Construction Equipment and Vehicle Financing
Build your dreams with TopMark’s financing programs for construction equipment and commercial vehicles. Whether it’s excavators, loaders, dump trucks, or cranes, you get what you need.
Emergency Equipment Financing
When every second counts, trust it to finance your emergency equipment and vehicles. Whether you need ambulances, fire trucks, or police cars, its programs keep your community safe.
Equipment Sale-Leaseback Services
Unlock the hidden value in your assets. If you own the equipment outright, TopMark can purchase it from you and lease it back. You get cash in hand, tax benefits, and continue using your essential equipment.
Business Loans and Lines of Credit
Fuel your business growth with TopMark’s flexible business loans and lines of credit. Whether it’s working capital, inventory, payroll, or expansion, it offers quick access to funds.
TopMark Funding Details
Semi-Truck Loans
Ready to own a new or used semi-truck? Opt for a semi-truck loan with a fixed interest rate and monthly payments. You get to pick from different loan terms and down payment options. At the end of the loan term, the truck is all yours. Your credit score, income, and the truck’s value determine your loan amount and interest rate. Rates usually start at around 4.9% to 6.9% if you have a strong credit profile.
Semi-Truck Leases
If ownership isn’t a priority for you, consider a semi-truck lease. With fixed monthly payments and a residual value, you can choose lease terms and mileage options that suit your business. At the lease’s end, you can decide to buy, trade, or return the semi-truck. Leasing often offers lower monthly payments and tax advantages in comparison to loans.
Trailer Financing
Need a trailer for your operations? Trailer financing offers a fixed interest rate and monthly payments, allowing you to own the trailer outright at the end of the financing term. Various trailer types, from flatbeds to reefers, are available, and the financing terms depend on your credit score, income, and the trailer’s value.
Construction Equipment Financing
For construction businesses, securing new or used equipment is vital. With construction equipment financing, you can acquire equipment like excavators and bulldozers with a fixed interest rate and monthly payments. As with other options, you own the equipment once the financing term is complete. Your credit score, income, and equipment value determine the financing amount and interest rate.
Commercial Vehicle Financing
When it’s time to invest in commercial vehicles like box trucks or tow trucks, choose commercial vehicle financing. This option provides a fixed interest rate and monthly payments within 12 – 72 months, giving you ownership at the term’s end. You get financing based on your credit score, income, and vehicle value.
For all the options above, you secure quick funding at optimal rates! You get pre-approval for $250,000 in 24 hours, without any hard credit inquiries or impacts on your credit score.
Business Loans
TopMark Funding provides business loans up to $250k within 24 hours, without hard credit inquiries. Eligibility depends on your business’s 12-month existence and a minimum monthly gross sales of $35,000. Its loans offer fixed interest rates, monthly payments, and flexibility for various business needs, such as working capital, inventory, or expansion.
Where TopMark Funding Stands Out
Experienced Team
Benefit from over two decades of expertise in the world of truck finance. Its team lives and breathes commercial truck financing and working capital, dedicated to helping you as an owner-operator, fleet owner, or trucking company achieve remarkable growth.
Seamless Application Process
Take the stress out of financing with its quick and hassle-free application process. The best part? It won’t impact your credit score. Get pre-approval in just 24 hours for up to $250k, without any hard inquiries. It even extends a warm welcome to startups with stellar credit histories.
Top-Notch Customer Service
Its commitment to service excellence shines through its impressive Google rating of 4.1. Its team is not just knowledgeable but also passionate about fueling your business growth. With unwavering integrity, it gauges its success through the satisfaction of its clients, leading to repeat and referral business.
Financial Wisdom at Your Fingertips
Count on TopMark to provide intelligent solutions for your financing needs. It’s not just for the short-term; it helps you make informed financial decisions that suit your long-term goals. It takes time to understand both your current and future business needs, ensuring you’re comfortable with monthly payments.
Specialists in Commercial Trucking
When it comes to commercial trucking and heavy equipment financing, TopMark is an expert. It offers a range of flexible terms and competitive rates just to fit your budget and boost your profitability.
Where TopMark Funding Falls Short
Financing Costs
Take the initiative to grasp that TopMark Funding may charge higher fees and interest rates in some instances, especially if your credit score is lower or your income is limited. Ensure you fully comprehend how this affects your financial situation.
Contract Transparency
Exercise vigilance when reviewing the terms and conditions of your financing contract. Seek clarity on any points that might be unclear to prevent unexpected expenses down the road.
Diverse Equipment Range
If you have a specific truck or equipment in mind, actively investigate whether TopMark Funding offers it, especially when it comes to older models or specialized vehicles.
Eligibility Criteria
If you aspire to secure financing from TopMark Funding, be aware that it may have strict requirements. Responsively work to meet these criteria, including credit score, income, and down payment, even if you believe your credit and income are strong.
Communication and Service
Hold TopMark Funding to high standards when it comes to communication and customer service. Demand timely responses to your calls and emails, expect regular updates and feedback, and don’t hesitate to address and resolve any concerns or complaints to ensure your experience is satisfactory.
How to Qualify for TopMark Funding
You qualify for TopMark Funding financing if you:
- Are a business owner, owner-operator, or fleet owner.
- Possess a valid business tax ID number.
- Maintain a US-based bank account.
- Possess a valid driver’s license and a commercial driver’s license (CDL) as a driver (for semi-truck, dump truck, or commercial vehicle financing).
- Maintain a minimum credit score of 600 (offers eligibility for lower scores based on the financing option you apply for)
- Maintain a clean driving record with no major accidents or violations in the past three years.
- Have a minimum annual income of $50,000 (accepts a lesser income depending on your financing plan).
- Provide a minimum down payment of 10% to 20% of the purchase price (depending on the type of financing solution you need).
- Present a business plan and a cash flow statement when applying for a business loan.
Contact TopMark Funding for the best financing solution for your business needs to get the specific requirements.
How to Apply for TopMark Funding
To get started, follow these steps:
- Visit TopMark Funding’s website and click on the “Get Pre-Approved” button.
- Complete the pre-approval form, providing essential personal and business information.
- Expect a TopMark Funding representative to review your pre-approval form and reach out to discuss your specific financing requirements.
- Once you determine the most suitable financing option for your business, TopMark Funding prepares the necessary documents for your review and signature.
- After signing the documents, TopMark Funding initiates the processing of your application, with loan funding typically taking place within 1-3 days.
TopMark Funding offers a diverse range of semi-truck financing solutions, including traditional loans, leases, and start-up programs. It caters to both new and used trucks, as well as trailers and other equipment.
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Alternatives to TopMark Funding
Commercial Fleet Financing Inc. (CFF)
CFF focuses on financing various commercial vehicles, like cargo vans, big rigs, and construction equipment. Despite its humble beginnings, CFF is today a top independent transportation equipment finance company in the U.S. It is exceptional with customer service and earns recognition for its growth and dedication to your satisfaction as a customer. In a nutshell, its mission is all about helping clients reach maximum potential.
Wilmar Inc.
Wilmar Inc. specializes in crafting unique fleet solutions to perfectly match the unique needs of your business. Its services span fleet analysis, management, maintenance, and leasing. Wilmar Inc. stands as a prominent leader in fleet management and leasing, particularly in the southeastern U.S., boasting a large fleet of vehicles. Its customers applaud it for its expertise, responsiveness, and problem-solving abilities. Its slogan, “Wilmar Is The Perfect Vehicle, To Find Your Company’s Perfect Vehicles,” sums up its mission: helping your business discover the ideal fleet solutions for your specific needs.
Customer Reviews
On Better Business Bureau, TopMark Funding holds an impressive A+ rating with the Better Business Bureau (BBB), signifying the highest level of trustworthiness and customer satisfaction. However, its customer ratings say otherwise. It gets 1.53 out of 5 stars.
On Trustpilot, TopMark Funding maintains a strong 4.0 out of 5-star rating, owing to its solid reputation. With over 212 reviews from customers, the majority – 83% -rate it as excellent, while an additional 5% rate it as great. Its positive feedback underscores its professionalism, helpfulness, and efficiency in providing services. A small percentage of reviews express some concerns about slow paperwork, difficulties with getting license plates, dissatisfaction with interest rates and financing terms, as well as concerns about transparency and customer service.
Pro Tips
- Research and Compare Lenders: Take the time to research and compare lenders offering commercial fleet financing. Different lenders have varying requirements, terms, rates, and benefits.
- Seek Recommendations: Don’t hesitate to seek recommendations from fellow fleet owners, industry associations, or professional advisors who have experience with commercial fleet financing. Check customer reviews on websites like Trustpilot or BBB to assess the reputation and performance of different lenders.
- Prepare Your Documentation: To streamline your commercial fleet financing application process, gather the necessary documents ahead of time. Ensure that all your documents are accurate and up-to-date.
- Maintain Open Communication: Keep the lines of communication open with your chosen lender once you apply. Respond promptly to any requests or inquiries from the lender to expedite the approval process and prevent delays or misunderstandings. Additionally, stay informed about the status of your application and follow up, as necessary.
- Budget Wisely: Once you secure commercial fleet financing, it’s crucial to assess your ability to meet monthly payments and associated costs. Develop a realistic budget that considers your income, expenses, cash flow, and potential contingencies. Regularly review your financing options and be on the lookout for opportunities to save money, or consider refinancing if it makes sense for your business.
Recap
TopMark Funding offers various financing solutions for commercial fleets with a strong reputation, a quick application process, and an experienced team. However, it operates as a broker and may have higher costs. If you have good credit, an existing business, and specific fleet needs, you are good to go.
