FOR ANY
EQUIPMENT
LEASE FINANCING
Call 800-733-3939
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Use our equipment lease payment calculator to
get an approximate monthly payment on your equipment.
Application Only Equipment Leasing
GO TO OUR LEASE APPLICATION
General Credit Guidelines
- All payments shown above have been calculated with 2 payments collected with contract.
- Payments do not include applicable sales tax. Due to variance in Credit profiles, rates sometimes have to be blended.
- The above rates apply to application only. Lower equipment lease rates may be available with submission of financial statements starting at $20,000.
General Credit Factors That Cover All Categories
Revolving personal debt less than $30,000
50% of revolving debt must still be available
Prompt payments of major trade debt
No NSF or overdrawn checks
At least 50% of owners need to sign personal guarantee
A reasonable explanation on any of the above may be acceptable towards approval.
Trucks & Vans are financed in all categories
Vendor pre-funding programs available with AA and standard credits
EQUIPMENT FINANCING CREDIT GUIDELINES
Please Note: Many factors are used to analyze credit requests. The following guidelines are presented to give you an overview of the requirements.
AA CREDIT:
AA credit will only apply to the very best credits. These are our lowest application rates.
Comparable Term Credit: 80%
Years in Credit Bureau: 5 years
Home Ownership for Majority Owner
Some restricted industries can still apply with financial information.
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| Equipment Cost: | $10,000 - $74,999 | $75,000 - $150,000 |
| Time in Business: | 3 years | 5 years |
| Minimum Credit Bureau Score: | 665 | 690 |
| Average Bank Balance: | $10,000 | $25,000 |
A CREDIT:
A credit is also a bank rate that focuses on excellent credit and good payment history. A credit has no equipment restrictions and is open to almost all financial requests - Application only limited to $50,000.
| Equipment Cost: | $5,000 - $24,999 | $25,000 - $50,000 |
| Time in Business: | 3 years preferred | 3+ years preferred |
| Minimum Credit Bureau Score: | 650 | 675 |
| Average Bank Balance: | $3,000 | $5,000 |
STANDARD CREDIT:
Standard credit will consider credit reports that have had previous liens if they are currently paid off. Anything above $35,000 will require 50% comparable credit. Very few equipment and industry restrictions.
| Equipment Cost: | $1,000 – $24,999 | $25,000 - $34,999 | $35,000 - $49,999 | $50,000 - $75,000 |
| Time in Business: | 2 years | 3 years | 4 years | 5 years |
| Minimum Credit Bureau Score: | 650+ | 650+ | 650+ | 650+ |
| Bank Balance: | $2,000 | $5,000 | $8,500 | $10,000 |
B CREDIT:
B Credit factors include: prior bankruptcy, some past credit problems OK if credit has been re-established. Will consider almost every industry and aged equipment here. Personal guarantees of all owners with 15% or greater ownership. 100% of ownership must be disclosed. Additional guarantors will help when the deal is weak in some areas, however, it will not overcome poor business credit.
| Equipment Cost: | $5,000 - $24,999 | $25,000 - $50,000 |
| Time in Business: | 2-5 years | 5 years + |
| Minimum Credit Bureau Score: | 600+ | 600+ |
| Average Bank Balance: | $1,500 | $3,500 |
| Terms | End of Lease Options |
| 24-36-48-60 months | Fair Market Value (FMV) |
| 72-84 month terms available on a case by case basis subject to credit review | FMV/10% Buy-Out |
| | $1.00 purchase option |
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