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Amusement Equipment Leasing - Startup Funding

Startup Financing
Whether you are a proprietor or authorized officer of a corporation with less than two years of management under current ownership, there are stringent requirements for leasing to your business or obtaining simple small business equipment financing. This is an industry-wide practice, as the risks with start-up businesses are quite high. These requirements state that we must review personal credit histories of all involved principals, and require that each said principal must personally guaranty the lease obligations will be met. As well, for any deal we require both a business bank account and business telephone listing be available. Leasing payments for start ups are always made via Automated Clearing House payments, or ACH, which is an automatic monthly withdrawal.

The maximum amount we of equipment that we may consider leasing to start up companies is $20,000, and must be personally guaranteed by at least two officers. Rates for start up companies have dramatically steeper rates than those for our standard equipment lease financing agreement, and include a non-refundable deposit. We do offer a one dollar purchase option, however, in some cases. Our program for start up businesses is structured with higher costs, simply because the equipment leasing industry has seen very difficult times with new companies, and thus the risk is quite high. For start ups, in fact, we generally recommend that companies consult their banker for financing.

Steps Start Up Businesses Should Take

With our Start Up equipment leasing program, we demand a $200 application fee. This is the only program with which we do this, simply because many people are refused. As a word of warning, we will say that if the owner(s) of the Start Up Business have poor credit histories, a lease WILL NOT be approved. As well, if we approve your lease, and you decide not to go forward, the application fee is 100% non-refundable. We insist on a non-refundable application fee mainly because it ensures that the customer is both serious about the transaction, and has a good credit rating. Our experience shows us that start up leasing is very risky, and thus our terms are certainly more rigid than with our standard equipment leasing deals.

Do you have more questions about Start Up Financing with Access Equipment Leasing? If so, please contact us.

Access Equipment Leasing
582 Sutter Street
San Francisco, CA