Equipment Leasing & Financing
Equipment leasing and financing enables you to acquire the equipment your business needs without using up your working capital or business credit lines. Access Commercial Capital finances a wide range of equipment in a wide range of industries, from furniture and computers to software, printers, copy machines, and more in the transportation, automotive, healthcare, and manufacturing industries, just to name a few. Let ACC help address your equipment needs and arrange financing you can afford.
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 more than $75,000.
- Signed credit application including credit authorization from each guarantor
- Last three month’s bank statements
- Equipment quote or invoice including price, specifications, and VINs if possible
- Last two year’s business tax returns
- Last two year’s and current YTD financial statements
- Last two year’s personal tax returns
- Complete, proper, legible, and signed personal financial statement for each guarantor
- Proof of time in business for sole proprietorship