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Leases for New Businesses

Like everything with a new business, these leases are the most difficult to execute.  Very few new businesses survive the term of the lease and there is enormous pressure to reduce risk.

You will be required to use your personal credit, and may need to offer additional collateral to secure the lease.  A lot of additional requirements will be forced on you to mitigate the risk to the lending party or parties. 

Leases for new businesses are doable, but very intensive and you must be willing to personally guarantee the lease, disclose your assets, and have a strong background in the business for which you need the equipment.

A Business Plan is not a substitute for good credit, typically 675 and above.  A business plan is usually required, as well as a verifiable work history of the principal or principals.

We work with new businesses to help secure equipment leases but we are bound by risk assessment in the final determination of eligibility.

To reduce the risk to the lender we highly recommend that all of, or most of the equipment proposed for lease be used with long term life expectancy.