CREDIT CRITERIA


When businesses decide to lease purchase assets, especially when new business leasing is considered, leasing companies require excellent credit criteria to use leasing services and to get low rates. Most of our leases are lease to own.

The following credit guidelines will give a broad overview of how credit is generally considered. It is also useful in determining an estimate of what types of leasing programs may be available to you. The following guidelines should not be considered as "industry standard" but can assist us with providing leasing quotes by estimating basic credit criteria.

Under no circumstances should the following credit criteria be expected to cover the credit of all applications received. Every credit bureau and business report is completely unique and the following credit ranges are for illustration purposes only.

If submitting a credit application, or inquiring for a lease quote, please note where you feel each principals credit, and the business credit, will qualify in the notes section. Each guideline assumes that the entity that is applying meets most of the credit criteria listed in each section.

 

 

 

A+ CREDIT

  • Perfect personal and business credit with many lines of credit
  • No Bankruptcies
  • Low revolving debt
  • Few credit inquiries in last 12 months
  • No evidence of suits, liens, collections, or judgments
  • No foreclosures or repossessions
  • Excellent score in credit desk
  • No slow pay activity on personal or business credit
  • Business should be established over 2 years with strong D&B Report
  • Strong financial statements may be requested for lowest rates
  • True A+ credit can apply for lowest rates available

A CREDIT

  • Excellent credit with many lines of credit
  • No Bankruptcies
  • Low revolving debt
  • Few credit inquiries in last 12 months
  • No evidence of suits, liens, collections, or judgments
  • No foreclosures or repossessions
  • Excellent score in credit desk
  • No slow pay activity on personal or business credit
  • Business should be established over 2 years with strong D&B Report
  • True A credit may qualify for best "Application Only" rates available

B CREDIT

  • Good overall credit with many lines of credit
  • No Bankruptcies
  • Lower revolving debt, under $25,000 and under 50% credit utilization
  • Few credit inquiries in last 12 months
  • Evidence of suits, liens, collections, or judgments that are satisfied or under $1,000 aggregate
  • No foreclosures or repossessions
  • Good score in credit desk
  • No recent slow pay activity on personal or business credit
  • New businesses and Business over 2 years old with good business credit

C CREDIT

  • Bankruptcy on credit bureau or business over 7 years old
  • Evidence of a few recent slow pays to creditors
  • Open suits, liens or judgments (less than $1,000 aggregate)
  • No foreclosures or repossessions
  • Revolving debt considered high, or high utilization of available credit
  • Explainable, high credit inquiries in last 12 months
  • Credit bureau scoring not within credit desk standards
  • These credits are considered on a case-by-case basis.
  • Higher rates will apply. Financial statements may be required.
  • Unfortunately, we cannot lease to businesses under 2 years old with this credit criteria.

D CREDIT

  • Bankruptcy less than 7 years old
  • History of slow pay to creditors since bankruptcy
  • History of suits, liens, judgments or collections
  • Foreclosure or repossession
  • High revolving debt on credit cards (without acceptable tax returns)
  • High credit inquiries in last 12 months
  • Unfortunately, we cannot lease to customers meeting this criteria
  • If you have any credit questions, or wish to receive a copy of your credit bureau or your D&B (Dun & Bradstreet) business report, please feel free to contact the following agencies for assistance.

QUESTIONS?

 

 

CREDIT REPORTS

 

Experian/TRW
P.O. Box 2002
Allen, TX 75013
(888) 397-3742

Equifax
P.O. Box 740241
Atlanta, GA 30374
(800) 685-1111

Trans Union
P.O. Box 1000
Chester, PA 19022
(800) 888-4213

Dun & Bradstreet Business Reports
Customer Service
(800) 234-3867