equipment financing with bad credit
Post on 07-Jan-2017
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Financing EquipmentWith Bad Credit
Most lenders want borrowers tohave personal credit scores above650 in order to finance or lease
equipment
BUT
There are still options when yourcredit isn't perfect
Many private lenders exist that willhelp businesses finance equipment
(even with low credit scores)
Sometimes, lenders need tostrengthen the deal to offset risk
Some Ways to Get Very Tough DealsDone:
Some Ways to Get Very Tough DealsDone:
Get a Cosigner
Some Ways to Get Very Tough DealsDone:
Get a Cosigner
Make a Large Down Payment
Some Ways to Get Very Tough DealsDone:
Get a Cosigner
Make a Large Down Payment
Offer Collateral
"Hard Equipment" Like Trucks orHeavy Machinery is Easier toFinance With Bad Credit
We do work with specialty lendersthat will consider any credit scorefor heavy equipment, even with low
down payments
However, very risky deals will havemuch higher payments than low-
risk deals
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