Frequently Asked Questions
What is your minimum credit score?
We don't have a minimum credit score. We routinely work with people scoring in the 500's or even less.
What is your minimum time in business
We don't have a minimum time in business either. Start up businesses or business with less than three years time in business often have trouble getting financing. If you have the additional collateral we can help.
I don't have any additional collateral. Can a cosigner put up collateral for me?
Yes, if you don't have any additional collateral someone else can put up collateral for you.
I have a tax lien. Can you still work with me?
Tax liens (in most cases) must be satisfied. This is due to the government placing a lien on your equipment while the tax lien is still in force. If the open lien is small enough we may be able to work around it.
Can I purchase equipment from a private party?
Yes, we do allow private party sales
Can I pay this off early?
Yes, we allow for an early payoff after nine months. Or you can pay extra each month and pay it off early that way.
I buy and sell equipment frequently. How do I handle this if I'm putting my equipment up for collateral?
No problem, if you ever decide to sell a piece of equipment that your using for additional collateral you can do one of two things. You can pay the proceeds toward your balance. Or you can substitute other equipment. Give us a call and we can work something out.
What is the interest rate?
We write our deals on lease purchase agreements so you can expense the monthly payments against your cash flow providing you additional savings. As such there is no interest rate.