When important equipment breaks beyond repair, it’s essential to replace it quickly so that your business can keep providing products and services! That’s why National Business Capital & Services developed a special program for bad credit equipment financing!
At National, we understand the quick timing needed for equipment financing and the struggles that a business owner with bad credit might face when trying to acquire an equipment financing loan.
Read on to learn everything you need to know about how to finance equipment regardless of your credit score.
5 Benefits of Bad Credit Equipment Financing
- We work with a wide range of businesses.
We’ve worked with businesses in almost every industry from medical to software to manufacturing, commerce, food services, automotive and many more.
With over one-third of Americans having bad credit, it’s no surprise we’ve had the opportunity to help business owners with bad credit in each of these industries get the financing they need.
- There are no upfront fees & no collateral necessary.
Unfortunately many lenders will charge upfront fees and require collateral for business owners with bad credit under the guise of “checking your commitment” or “making your loan a safe bet”.
With National, we don’t charge any upfront fees and we offer secured and unsecured equipment financing.
This means that you can use your equipment or other assets to secure your loan or you can decide to get a loan without using personal or business collateral.
- You can purchase from the vendor of your choice.
More often than not, we see lenders partner with major equipment manufacturers so that when they offer equipment financing, their manufacturing partners get the business.
This equipment can come at a higher cost and it may not be the best decision for your business to buy from a specific manufacturing partner.
This is why we let you purchase your equipment from the vendor of your choice. With your experience, you know what’s best for your business and you know which brands of equipment can help you achieve success.
- We offer flexible terms & various repayment options.
At National, we know lending isn’t a “one-size-fits-all” type of service. That’s why our terms and repayment options differ for each loan we provide.
For example, if your business takes the majority of your payments through credit cards, we have a special repayment process for this.
Essentially, we work with you to determine the best terms and easiest payment method that fits your business. Then we customize your loan accordingly.
- Our approval is quick and our application is easy!
Our 1-minute application is easy to fill out with basic business information and we render an approval decision within 24 hours.
Our staff is here 24/7/365 to ensure that your loan application process is quick and simple!
Whether you have questions or would like someone to talk you through the loan process, give us a call at 877-482-3008.
Equipment Financing for Bad Credit Requirements
(If You Have a Credit Score of 650+)
Whether you’re just starting out, or have been in business for years, if you have a credit score of at least 650+, then you may qualify for equipment financing!
(If You Have a FICO Score of 650+)
If you have a credit score of 650 or more, no minimum annual gross sales is required. Whether you’re just starting out, do $10mil+ in annual sales, National has the perfect financing option for you!
(If You Make $120K in Annual Gross Sales & Have Been in Business for 6+ Months)
You don’t need a stellar credit score to qualify for great equipment financing options from National. All you need is $120K+ in annual gross sales, and 6+ months time in business.
Apply for Low FICO Equipment Financing
So what are you waiting for? Give us a call at (877) 482-3008 or fill out our 1-minute application online here to get the funding you need, regardless of your credit score and financial history.