UPDATE ON CORONAVIRUS (COVID-19) MEASURES: We value our business relationships and want to assure you that we are here to help you through the COVID-19 challenges. Please read our CEO’s message on steps Access Commercial Capital is taking to address the impact of the virus on our customers.
Equipment Leasing & Financing
ACC’s equipment leasing and financing program is an ideal solution for businesses looking to secure financing up to $500,000 for any non-titled asset. Generally, rates range from the mid-single digits through the teens.
Term lengths are often determined by the requested financing amount, the industry and marketability risk of the collateral, and range from 24 months to 60 months.
You should expect total out-of-pocket inception expenses between 5% for great credits, and 20% for difficult credits.
- Transactions from $25,000 to $500,000
- Minimum time-in-business of two years
- Personal Guarantor required
- No bankruptcies or major derogatoriness such as a repossession, foreclosure or open lien
Credit Package Requirements:
Below is a list of what is typically required. At a minimum we need the first three items, but often need the other items listed, especially for transactions just meeting the minimum credit requirements or over $75,000.
- Signed credit application including credit authorization from each guarantor
- Last three months bank statements
- Equipment quote or invoice including price, specifications and VINs if possible
- Last two years business tax returns
- Last two years and current YTD financial statements
- Last two years personal tax returns
- Complete, proper, legible and signed personal financial statement for each guarantor
- Proof of time-in-business for sole-proprietorship