Time in business: Start-ups will be considered, however, the best offers will be extended to customers with 4+ years in business. For doctors and dentists, the date of your license may be used.
How does equipment financing benefit you as a customer? It is added financing that does not impact your Lines of Credit or Term Loans.
Equipment of all types: Including new and used. Software is also included, but the maximum term will be 36 months.
Process: Only an application is needed for loans up to $150,000. We will require an application and an invoice on equipment to underwrite. Start-up businesses are considered; only an application is needed loans up to $50,000. For equipment over $150,000, we will need full financials.
Personal Guarantees will be required for most loans. You will need to have 80%+ ownership of your business. Best pricing is extended to people with a personal guarantee and credit scores of 680+.
Corporate Only Deals (non-personal guarantee)will be considered for people with 10+ years in business plus a previous history with financing and strong corporate payment history on existing and current loans.
For customers that have SBA Loans, additional financing may be offered for equipment if you are unable to obtain more money from your banks.