Equipment financing is not a one-size-fits-all solution for any business. Navigating the complexities of financing can be challenging, especially for those with limited time in business or lack of credit history small business.

However, Liberty Capital has deep roots in the equipment leasing industry who can bring over 20 years of experience financing equipment. Their knowledge and expertise, make them well-equipped to handle all types of equipment financing needs for any industry.

Application only financing makes it easy to get financing without having to show profit.

We can break up multiple financing exposures to accommodate lender’s exposure limit to accomplish to accomplish a “Low Doc Equipment Financing” utilizing our “app-only up to $250,000 financing.” This is just a guide. Not an absolute credit window but a window to where you can expect. Each lender will have their own credit window and max exposure limit for each business. For example, SBA has $5MM limit per SSN but mainly follows the following exposure guidelines more or less. Here’s  app-only limit based on time in business.

$3,000 – $49,999: 650 credit score or higher

• Start up to 1+ years’ time in business, present control
• Credit Reports, 5yrs clear history, No major Derog, 7min Satisfactory trade

$50,000 – $100,000: 600 credit score or higher

• 2+ years time in business
• Reference—Low-5 (banks statements or Bank Rating)
• 1 YEAR TIB (time in business) for Max Limit – APP-ONLY MAX LIMIT

$100,000-$150,000+ 625 credit score or higher

• 3+ years’ time in business, present control
• Personal guaranty required with a Fair Isaac FICO of 650 or higher
• Bank Reference—Low-5 (banks statements or Bank Rating)
• Two (2) years business tax returns

$150,000+ 675 credit score or higher

• Two (2) years business tax returns
• Bank Statements —Med-High-5 (banks statements or Bank Rating)
• Debt Schedule (maybe required)

APP-ONLY MAX LIMIT $250,000 – 725 credit score or higher

• Personal guaranty required with a Fair Isaac FICO of 725 or higher
• Bank Statements —Med-High-5 (banks statements or Bank Rating)
• 5-7 YEARS TIB for Max Limit – APP-ONLY MAX LIMIT

As you can see, your qualification is not easy with many more variables not included in here such as Paynet, Paydex, Background History, Type of Industry, Type of Equipment (new or used makes a difference due to age), dealer or private seller.

This is just to give you the main criteria you will encounter when applying for equipment financing. Most would say they rather work with a direct lender, but doing so may not be always the best choice due to complexity of getting the right approval based on the funding. It would be time consuming applying to multiple places or once you get turned down.