WHAT GOES INTO DETERMINIG A RATE ? IF YOU WANT A BETTER IDEA.
The financing options available for your business are just a conversation away. We would be happy to speak with you! By filling out an inquiry or giving us a call, we will ask you a few simple questions and provide you with facts about pre-qualifying. Please don’t worry! We do not sell your information or share your personal details with anyone.
How long have you been in business?
Are you a start-up?
What industry are you in? (Every industry has its own risk score)
What are your business’s monthly revenues?
Have you financed commercial equipment before?
What’s your personal credit score?
The fact is, there are many different lenders, investors, and banks in the marketplace today, each with their own unique lending parameters. They all assess risk differently and determine how much money they are comfortable lending to any business—this is called exposure.
This is why, at Easy Equipment Finance, we offer an array of financing programs. Not everyone fits into the same sandbox, and your business’s success is our #1 goal!
START-UP FINANCING
FACTS TO KNOW ABOUT START-UP FINANCING
If you are starting up a business and need to finance equipment, it’s important to know that a down payment will be required.
How much of a down payment really depends on your credit. The range of the down payment is 10%-40%. Of course, the better the credit, the less money down.
The underwriter most likely is going to require additional information such as bank statements (personal bank statements are fine if you are a brand new start-up. If you have been in business under two years, business bank statements will be asked for).
Just a quick heads-up: depending on the underwriter, they may want to see two years' tax returns.
The reason for all this information is that start-up businesses are risky, with about 30% of businesses going belly-up after three years.
Take action now.
If you’d like to see what you can get approved for, please call or inquire.