Sunset Financial Group is a credit lender with risk-based pricing to help its clients regardless of their credit. The company funds equipment purchases in all 50 states as well as Canada. Sunset Financial Group's mission is to provide companies with the most competitive rates possible while guaranteeing professionalism and integrity. The lender is a Nationwide Commercial Equipment Leasing/Financing Company.
Sunset Financial Group has multiple loans you can choose from. Variety allows the company to appeal to more borrowers and makes for a more robust business loan offering.
Sunset Financial offers three types of financing: equipment financing, sale-leaseback (secured loan), and working capital (unsecured loan). Details for each are listed below:
For equipment financing, Sunset Financial Group offers up to $100,000 for 12–60 months with fixed lease payments. Rates start at 4.99 percent, and repayment frequencies are monthly. You can use Sunset Financial’s equipment financing for any business essential equipment, any business essential vehicle or trailer, and used equipment. Sunset Financial does not practice an age restriction on used equipment.
If your loan is accepted, Sunset Financial typically requires the first and last payment upfront. Companies will also most likely need at least two years in business, but that isn’t always the case. Funding time is quick, and you’ll typically receive funds in as little as two days.
Sunset Financial offers secured loans up to $250,000 with term lengths between 12 and 60 months. Similar to equipment financing, Sunset Financial’s secured loans have interest rates that start at 4.99 percent.
However, secured loan funding is a bit slower than equipment financing and usually takes three days. You pay back the loan in monthly payments, and the collateral accepted for Sunset Financial’s secured loans is as follows:
Unsecured loans are the largest loans Sunset Financial Group offers. Loans can go up to $500,000, and rates are at a fixed cost. Unsecured loans have a shorter repayment period of 3–24 months.
Unsecured loans also have the quickest funding time out of the three financing options, as funds are available as soon as the next business day. You repay the loan in daily or weekly payments rather than monthly.
You can use Sunset Financial’s unsecured loans for inventory, equipment or technology, cash flow management, marketing, capital supplementation, and unexpected opportunity.
Sunset Financial Group has a tax calculator on its website that allows borrowers to run the numbers on equipment lease taxes. When you put in the cost of equipment, it will input the IRS Section 179 Deduction, account for normal first year depreciation, and show you cash savings on your equipment purchase and the lowered cost of equipment after tax savings.
Although Sunset Financial Group is transparent about its loan offerings, the company does not list specific borrower requirements on its website. For example, most lenders will note revenue, time in business, and credit score requirements, but Sunset Financial doesn’t have any of that information on its website — except for the equipment financing option. For equipment financing, Sunset Financial has information about time in business requirements, but revenue, credit score, and other requirements are unknown for all loan types.
Sunset Financial also notes on its website that it’s possible to be approved for a loan with a low credit score — how low the credit score can be is unknown. This limited information makes it difficult for borrowers to determine if they quality for Sunset Financial’s services.