Thank You

Thank you for requesting a quote on your project; you should be hearing from someone within the hour. In the meantime, allow us to give you a quick look into the reality of Equipment leasing and Finance underwriting.

We have funded millions of dollars in equipment, from large generators to small packaging systems. We found a consistent similarity between them: the companies that are prepared with all of their documents and make a great first impression get funded, those that don’t well, it’s a 50/50 chance.

So to make sure we can approve your project quickly and get you the funds needed to buy new or used equipment, allow us to give you some guidelines to get ready

Materials For projects between $100,000 and $250,000:

  1. We will send an application to complete to get to know you better and your history.
  2. Bank statements showing an average balance of $10k
  3. FICO score above 680 with no judgments, bankruptcies, or liens
  4. Invoices for the machinery or equipment that you need for the business

Documentation to provide for larger projects, up to $50-million:

  1. Have your current “interim” statements completed so our lenders can see no recent surprises or changes in your business operations.
  2. Have your year-end statements completed and accurately presented, so an analysis of your operations shows you have a business in control.
  3. Provide a one-year forecast so a lender can see a bright future from the eyes of an insider
  4. Have prior year Tax documents completed (if you filed an extension, provide the copy)
  5. Make sure that internal year-end statements “Foot” with your Fed Tax Documents
  6. Have a completed Personal Financial Statement not older than 90 days
  7. Gather your vendor invoices showing the equipment details that you are buying from reputable vendors that will stand behind their product
  8. A summary of why the equipment is needed and what it will do for the company to grow, enter new markets, expand territories or improve the bottom line
  9. Not every company has perfect financials; if there are areas in your accounting that need a footnote or additional clarification, provide it. It will go a long way in helping a credit team see how your management team mitigates problems that invariably arise in business.
  10. You have spent a good part of your life building this business, BE PROUD OF IT, and why an investment in you and your company is a wise course for us to follow.

We look forward to talking with you soon about your funding needs and getting you the capital as quickly as possible.

Equipment Leases Inc.