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1. Time In Business. Experience tells us that experience counts! Our standard lease programs require a minimum of two years in business under current ownership and we must be able to verify this through outside sources. We do offer leasing programs for newer businesses, but there are different requirements for those plans. See "Start-up/New Business Programs" for more information. 2. Personal Credit History. For smaller and closely held companies, we require a review of the personal credit bureaus of all owners of the company. Over the years, we have learned that there is a significant correlation between the principal's personal credit and the overall financial well being of the company. Publicly traded or other larger businesses under current ownership for at least 5 years can request to be considered under one of our corporate-only programs. 3. Business Credit Reports.
We will review
certain information from a business credit report, like Dun & Bradstreet,
for each credit request we receive. A wide variety of information is
contained within these reports to help us verify the information given on the
credit application. 4. Bank Relationships. We will typically want to verify at least a two year history of commercial banking experience. We will typically look to verify the date an account was opened, what the average balance is for the account and how the account has been handled overall. Keep in mind that the history and balance should be in line with the dollar amount requested. 5. Trade References. We will ask for at least two companies that you have established business credit with. We usually want to see that you have established open billing terms and that the accounts have been handled as agreed. 6. Equipment. We want to see that the business applying for credit has a distinct need for the equipment and that it makes sense for your type of business.
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info@4leases.com with questions or
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