FACTS TO KNOW ABOUT START UP FINANCING
If you are start up a business and to know finance equipment, it’s important to know that a down payment will be required.
How much of a down payment really depends on the 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, it you have been in business under 2 years then 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 the start up businesses are risky with about 30% of businesses going belly up after three years.
If you like to see what you can get approved for please call or inquire.