This information, along with any additional requirements is what adds to the length of a loanâs approval and the speed in which this information can be provided makes the difference between a 24-hour, 5 business day or 30-day approval for a loan.
Powered industrial trucks, commonly called forklifts or lift trucks, are used in many industries, primarily to move materials. They can also be used to raise, lower, or remove large objects or a number of smaller objects on pallets or in boxes, crates, or other containers. Powered industrial trucks can either be ridden by the operator or controlled by a walking operator. Over-the-road haulage trucks and earth-moving equipment that has been modified to accept forks are not considered powered industrial trucks.
Forklifts fall into six different classifications, according to the Occupational and Health Administration. (Image: forklift image by Michael Cornelius from Fotolia.com) The Occupational Safety and Health Administration identifies seven classifications of powered industrial trucks.