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Credit Guidelines

 

$10,000 – $35,000

  1. Minimum 2 Years in Business under same Ownership.*
    (When the business is less than 2-3 years old, the principals must have significant prior experience in the same type of industry.)
  2. Satisfactory Dun & Bradstreet Report, Paynet, or other Business Report, if applicable.
  3. Satisfactory Bank and Trade References.
  4. Credit Bureau Scoring: Experian – Fico=>660
    No unresolved liens, judgments, suits, or substantial collections. (If business is under three years old, bureau must report either a two year satisfactory payment history on a mortgage or two installments accounts.)
  5. Personal Guarantees from all major owners of privately-owned businesses or closely held corporations are generally required.
  6. Spouses’ Guarantees may be requested when a credit decision has been based on Joint Personal Financial Information.
  7. The Lease Term should not exceed Time in Business plus one year.

OVER $35,000

  1. Minimum 3 years in Business under same Ownership.*
    (When the business is less than 2-3 years old, the principals must have significant prior experience in the same type of industry.)
  2. Satisfactory, established Bank and Trade References.
  3. Satisfactory Dun & Bradstreet Report, Paynet, or other Business Report (if available).
  4. Business Financial Statements and/or Tax Returns. (unless submitting application under our $100K App-Only Program Parameters).
  5. Lease requests over $50,000 for companies in business less than 3 years, should include personal tax returns and PFS’s of all majority owners.
  6. Clean Credit Bureau Reports on Principals – Fico=>675
  7. Personal Guarantees from all major owners of privately-owned businesses or closely-held corporations are generally required.
  8. Spouses’ Guarantees may be required when a credit decision has been based on Joint Personal Financial Information.

*Exceptions to the Time in Business Requirement will be considered for start-up professional industries such as physicians, dentists, attorneys, etc. or case-by-case exceptions will be considered.

APP. ONLY TO $100,000

  1. Over 5 yrs. time in business under same ownership.
  2. Fico scores of personal guarantors => 700. No history of suits, judgments, liens, or bankruptcies.
  3. Bank reference with 2-3 year history and at least a moderate 5 fig. average balance.
  4. Two satisfactory trade refs with at least one satisfactory comparable debt reference.
  5. Clean Fico Small Business credit report or D & B report, as appropriate.
  6. Clean Paynet report (if sufficient data is reported, Paynet report may replace above requirement for trade references).
  7. No bankruptcy history.

You can print a downloadable application (in pdf format) and fax it to us, or apply online. Just choose your preferred option and click to access. Other financial information may be requested in connection with the lease application.Give as us call at 888-464-6256 or email us at info@capital-leasing.com to discuss your needs.

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