FREQUENTLY ASKED QUESTIONS
What type of assets does CHB finance?
Vocational trucks, including tow trucks, bucket trucks, volumetric concrete mixers, and crane trucks. Construction equipment such as skidsteers, excavators, backhoes, and trenchers, man-lifts. OTR (over the road equipment) sleeper trucks, flatbeds, heavy haul RGNs, drop decks, refrigerated and dry van trailers.
What information does CHB require when submitting an application?
For most applications, below $150k, we require at least four things: 1. a signed credit application 2. an invoice for the equipment being financed 3. spec sheet – or specification sheet that provides equipment details, (i.e., make, model, engine type, etc); 4. three months of the most recent complete (all pages) bank statements.
Does CHB fund deals over $150,000?
Yes. CHB will fund deals from $15,000 to $325,000. Deals over $150,000 will require additional documentation such as personal financial statements, balance sheet, P/L statement and two years of federal tax returns.
Does CHB preview deals?
Yes – To preview deals, call and send the deal to the Business Development Director. They will take a deep look into your deal and give you an idea of what it needs to be successful. In addition, for our start-up brokers, we can walk you through the process and get you used to sending deals to us
Does CHB handle customers with A through C credits?
Yes, CHB works with all types of customers from A to C credits. Although, our main focus is on the B – C credit ranges as our products are built for this credit arena. We understand what it takes to build a company and are prepared to be there through the life of the loan.
Does CHB ever solicit applications from dealers or returning customers?
No – CHB does not circumvent our referral associate network. Our business model is based on the referral agent relationships that we establish and nurture. Referral agents are, in effect, our sales force and we will never jeopardize those relationships.
Does CHB work with start-up businesses and individuals?
Yes – We will work with start-up companies and individuals (sole proprietors). We do not have a “Time in Business” requirement, but the more experience you have in the business the better. Start-ups will be required to have ownership of real estate if they are looking to purchase a power unit for OTR driving. If the start-up is looking to purchase a vocational truck, day cab, or construction/material handling equipment, we waive the real estate requirement.
Does CHB accept deals for owner-operators?
Yes, we accept deals for owner-operators, sole proprietors, OTR (over the road), and start-ups. This is the key differentiator for CHB, as many lenders will not finance these types of arrangements. Owner/Operators are a huge part of our business. We work with O/O to help build their fleet and grow their businesses. As O/O come back for new loans, as long as they have a great pay history, we will work to get better rates and terms. This will give them the freedom to focus on their business.
How quickly can CHB provide a decision on a submitted deal?
Our goal is to provide our referral associates with an answer in one business day. This, of course, depends on what time of day the deal is submitted. It’s also important to remember different time zones; the west coast is three hours behind us and a broker in California would need to submit his deal by 1:00 a.m. EST (or 10:00 a.m. PST).
Does CHB Fund deals in Canada or Mexico?
No – CHB is national in scope. We only fund deals that are in the United States.
What are CHB's minimum and maximum finance amounts?
We will fund deals from $15,000 to $325,000. Our Start-Up Financing program is up to $75,000.
Are there certain states that CHB will not fund deals?
CHB is national in scope. We accept deals in all states limited in Louisiana. In Louisiana CHB will fund titled power units only. For example OTR Trucks, Tow Trucks, Box trucks. All trailers and all yellow iron are restricted in Louisiana.
Does CHB have a rate card?
No, we don’t have a rate sheet. CHB is 100% human based credit scoring. As such, all of our deals are scored using a human based credit model. Each deal is assigned a rate based on the result of the score derived from that model.
What kind of financial solutions does CHB offer?
CHB offers loans Equipment Finance Agreements (EFAs) solutions that are based on simple interest loans. The amount financed to vendor, documentation fee, GPS fee, title fee, and interest are all disclosed on the contract.
Does CHB broker deals to other lending entities?
No. CHB is a direct funding source, underwriting and financing for all your commercial equipment needs using our own funding lines. We are backed by Platte Valley Companies, a community bank, headquartered in Scottsbluff, Nebraska. CHB will not re-broker your deal with any other funding sources. We leave it up to our broker associates to make sure that they find the right source of funds for their client.
Is there a prepayment penalty/premium?
Yes. CHB has a prepayment premium, which applies for up to 36 payments after your loan is executed.
How will my client/borrower receive the bill for payment?
Your client(s) can get set up to receive an “advance payment notice”. This will let them know when they have a payment coming up, as well as how much of the payment will go to interest and how much will go to principal.
Will my client receive a notification in the mail or is it going to be a direct withdrawal?
Your client will receive this notice in the mail, however their payment is set up to automatically withdraw on the 5th or the 20th of each month, starting 45 to 63 days after the loan has been funded.
When will my client get this information?
The advanced payment notice will arrive about 1 week before the payment is automatically withdrawn. Your client does not have to do anything. Please be aware that the notice will come from our parent bank Platte Valley Bank (PVB) in Nebraska. Anytime you have a question, do not hesitate to contact CHB directly. 307-322-2545.
Does CHB fund deals, where the borrower is based out of California?
Yes. Our parent company, Platte Valley Companies, are legal to loan in all 50 states. Please check your local, state, or regional laws as these will change from time to time. Not all brokers are allowed to broker deals in all states. Each state has its own rules and regulations and in order to comply with those, research must be done for each state that you wish to work in.
Does CHB Finance Aircraft?
Yes – CHB finances aircraft up to $750,000. The aircraft must have a business purpose, be a piston/turbo prop driven fixed wing or helicopter and hangered here in the USA. Jet engines are restricted.
Have another question?
Welcome Brokers
who is
c.h. brown co
We do business with our clients in a friendly and courteous manner. Since we make the credit decisions, prepare the documents, and bill the client ourselves, you will find our response time prompt and our rates competitive. We are also interested in our clients having profitable operations, so they can continue to be valuable customers. We operate nationwide and offer conventional financing. Though we are conservative lenders, we are innovative in our approach to each client’s requirements. We also make every effort to be helpful and considerate to each client, many whom are now second and third generation customers.
