Application-Only Financing

App-only works for purchases, leases, refinances, cash-out refis, and sale-leasebacks on telehandlers. The threshold for most programs is $400,000 in transaction size. Deals above that threshold typically require financial statements and in some cases reviewed or audited returns. Below $400,000, the one-page app and the latest business statement set is usually sufficient to get a credit decision.

The bank statement review focuses on average daily balance, monthly deposit volume, and consistency of cash flow. A business averaging $40,000 to $60,000 in monthly deposits with stable patterns is a straightforward underwrite on a $100,000 telehandler purchase. The statements tell the story better than a tax return for businesses that are profitable on a cash basis but show minimized income on returns through depreciation and other deductions.

Speed is the defining advantage. A traditional full-doc bank deal can take four to eight weeks. App-only deals typically get to a decision within one business day of complete submission and fund in one to two weeks. That timeline matters when a deal on a machine is expiring or a rental company needs to place new units before peak season.

The one-page application collects business name, EIN, years in business, ownership structure, and contact information. We ask for the machine details: year, make, model, serial number, hours, and purchase price or payoff if applicable. That is the core of the file.

Bank statements confirm the business is actively generating revenue. We are looking for deposits that indicate real operations, not a dormant account. A general contractor running a project will show lump-sum draws coming in; an agricultural operator will show seasonal patterns; a rental company shows frequent smaller receipts. Each pattern is readable.

We also pull a soft credit inquiry on the business and the primary owner to check for open judgments, recent bankruptcies, or unpaid liens on the collateral. challenged credit profiles are underwritten. A score in the lower tiers does not disqualify the deal; it adjusts the rate and, in some cases, the advance rate on the machine. The equipment's value functions as a second underwriting anchor, especially for low-hour machines from major brands with strong remarketing history.

Most telehandler transactions are naturally sized for app-only: a mid-range 44-foot reach machine costs $80,000 to $140,000 new or used, well below the $400,000 threshold. Even a high-capacity 15,000-pound unit from JLG or Manitou typically lands somewhere in the $150k–$250k band new, still inside app-only territory.

Where app-only reaches its limit is on large fleet purchases or multiple-unit transactions that aggregate above $400,000. A rental company buying four or five units in a single transaction may cross the threshold and trigger the full-doc requirement. In those cases, we may be able to structure the deal in tranches or across multiple lender relationships to keep each ticket in app-only range.

Framing contractors, landscaping companies, masonry crews, and agricultural operators who use telehandlers regularly find app-only financing particularly practical because their business returns often show modest net income after depreciation. App-only sidesteps the return entirely and underwrites on operating cash flow, which is often a more accurate picture of the business's ability to service debt.