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.

LEASES 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.