In order to achieve our desired level of service and to assist you and/or your customer in providing the necessary credit and financial information to General Equipment Leasing, the following summaries have been prepared as a guideline. We are committed to processing applications as quickly as possible, generally within 24 hours.
$10,000 to $150,000
Application Only Program is designed for A or B credit ratings for equipment financing requests that do not require financial statements. Requests ranging from $10,000 to $150,000 are considered under this program, and terms are generally 24 to 60 months. For consideration under this program, submit a completed application with the most recent 3 months bank statements (the summarys page of each statement are necessary).
In some cases, we can extend up to $250,000, on our Application Only Program.This applies to companies that have been in business five years or more, maintain a five-figure bank balance and have a strong credit history. Generally for transactions exceeding $150,000, financial statements will be needed. Sending these statements with the application or soon after will help to expedite the approval process.
or Credit Issues
General Equipment Leasing recognizes that recent economic conditions have had a negative impact on many businesses. If your company does not fit either the business longevity or the earlier credit descriptions, give us a chance to customize a program that suits your needs. We have the ability to work with start-up businesses and companies that have less than stellar credit, please call us to discuss specifics.
All decisions regarding the Application Only Programs are based on credit quality. Our experienced team of Application Analysts works to deliver prompt turnaround and credit decisions based on a common sense approach to lending. As with any rule, there are always exceptions. Please keep in mind that the these credit and financial requirements are guidelines to help expedite the processing of applications. We recognize that certain information may not always be available and accordingly will process applications as submitted. If a customer cannot be approved under these programs, there are other programs available which may require financial statements