Equipment lease & financing allows businesses to keep their cash on hand and make monthly payments for needed equipment, rather than making a huge cash outlay to get the equipment they need. It also allows businesses the ability to plan for a predictable, fixed monthly expense.
Equipment Lease
Borrower Criteria
| Required | Preferred | |
|---|---|---|
| Time in Business | Startup | 2 Years |
| FICO | 500 | 680 |
| Monthly Revenues | $5,000 | $15,000 |
| Entity Structure | LLC / Corporate | LLC / Corporate |
Terms
| Amounts | $1,000 to $20,000,000 |
| Term Length | Up to 10 years |
| Payment Frequency | Monthly |
| Loan To Value | Up to 100% |
| Closing Time Frame | Same Day Approval |
| Credit Pull | Soft |
Documentation
| Basic Credit Application |
| Copy of Credit Report |
| Invoice / Bill of Sale / Quote |
| 6 Months of Business Bank Statements |
| Signed by All Business Owners |
Benefits
| Options For Same Day Approvals Available |
| 500 Minimum FICO |
| Titled Equipment OK |
| 90% Industry Coverage |
| FMV, EFA, $1 Buy Out, 10% Buy Out Leases |
PRE-APPROVAL FORM
*** All files are subject to full underwriting & qualifications specified by each bank. There can be no assurance that any applicant will be approved and that credit will be offered.***