Allegiant Broker Guidelines
Thank you for considering Allegiant Partners as your funding source. We know you have a choice of who to work with. We want to help you grow your business by funding your success.
Broker Qualifications – What We Look For
- Good character & good reputation in the industry
- 3 years industry experience, with a good understanding of equipment financing
- Minimum funding amount of $150,000 per year
- Minimum approval ratio of 50%*
- Minimum closing ratio of 50%*
- Delinquency and charge-offs of less than 3% each*
- Clean references and background check
- Clean business and personal credit (or acceptable explanation)
Broker Responsibilities
- Know your customer & the transaction
- Win the deal before submitting it
- Pre-sell the rate
- Inform us of any commitment fees or down payments made or expected to be made
- Provide full disclosure of material facts
Allegiant Partners seeks applications from honest brokers that know their customers and understand the transactions they present to us.
We ask brokers to submit or inform Allegiant about all information it has pertaining to the customer, its owners, its affiliate entities, the equipment and its manufacturers, suppliers and other brokers and third parties that are connected with the transaction. If material changes in this information occur prior to funding a transaction, the broker is required to promptly update us with the new information. This includes the timely disclosure of any commitment fees, down payments or other funds that have changed hands or are expected to change hands between the parties to the transaction or their affiliates.
Brokers should have already “won” the transaction before they submit it to us. While not a requirement in all cases, it is beneficial to obtain a signed commitment letter and fee from your customer before submitting their credit application. You are required to disclose any such commitment letter and fee to us upon your submission of the transaction and keep us informed of changes.
Each broker is asked to complete a Broker Application and is required to promptly provide updated broker information to us as material changes occur. Brokers must be approved by us and have signed our Broker Agreement before their transactions are funded. If you have questions about any procedure, please login to review our Broker Procedures or call our Broker Phone Line at (415) 451-4055. We look forward to funding your success.
* Based on a 12 month rolling average |
