| The Private Label program has been designed
to provide discount financing to established Lessors who have
demonstrated the ability not only to originate a significant
level of lease volumw but also service their own portfolio.
The program is designed to provide the advantages of building
your own portfolio, minus the administrative and financial
burdens.
Main Street Bank invoices the lessees
under the Lessor’s name, the lessee is unaware the lease
has been sold. Private Label Lessor continues to SERVICE,
retaining identy with the lessee, and has the opportunity
to solicit repeat transactions.
Main Street Nation Bank will provide a lock-box
service where all payments are routed. Lessor need not worry
about cash accounting and cash management.
Main Street Bank provides a credit
guidelines checklist, thus facilitating the lessor with the
ability of knowing that transacactions fitting the guidelines
will be purchased, approval ratios should be in excess of
95%.
Main Street Bank will provide application
transaction up to $75,000.
Main Street Bank will consider
developing special credit criteria with lessors having strong
vendor relationships.
Main Street Bank’s program
provides Limited Recourse Provision if 10% of the total amount
sold to Main Street.
Main Street Bank provides for 97%
advance rate of the full present value.
Main Street Bank will provide Lessors
with daily cash application and delinquency reports, via the
internet on a daily basis.
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