A Variety of Programs Are Offered Rather than a Cookie Cutter Solution
Las Vegas, NV -- (SBWIRE) -- 02/14/2013 -- Businesses struggling in today's economy must find new ways to finance equipment purchases. With Bad Credit Equipment Leasing, a company may obtain the necessary equipment without decreasing available working capital. Businesses with bad credit find this to be the perfect option as it is easier to be approved for equipment leasing than for a business loan, according to Darren Tiemann of NHBS Inc.
The Bad Credit Equipment Leasing program works for those who are unable to obtain financing through traditional sources. NHBS Inc. packages the lease in a manner that has financiers and banks looking favorably on the request. "To ensure speedy approval, provide a written explanation for any negative items on the credit report when submitting the application. Submit the application with financial information showing the ability to repay the loan and ask questions before submitting the application. This prevents repeated requests for credit which affect the overall credit score," Mr. Tiemann explains. "With this information, financiers feel more comfortable providing the requested funds."
Working Capital Loans Using Equipment Already Owned By Your Business offer another option for businesses which have been under the same management for two years or more. For this type of loan, the minimum credit score required is 550 and annual revenue must exceed $300,000. Repayment terms range from six to 12 months and certain other requirements must be met. "For companies meeting these requirements, a working capital loan often becomes the best choice," Mr. Tiemann goes on to say. "Other options include factoring and cash advance loans. The goal is to find the loan program that is best for each client rather than offering one option for all."
Companies needing Startup Equipment Leasing - Bad Credit Ok find NHBS Inc. offers programs that meet their needs exactly. This program provides funding for those businesses in operation for less than two years also and financing is available for companies with A-D credit nationwide. Documentation required before obtaining a loan of this type includes a personal financial statement, a brief business summary, an invoice or details concerning the equipment and two years personal tax returns on lease amounts above $15,000. "To be approved faster, submit business plans, executive summaries and other documents which show an ability to repay the funds. Be up front about past credit problems and submit full financial information. Doing so increases the chances of having the funding approved," Mr. Tiemann states. "To qualify, the credit rebuilding process must have started. Credit problems in the past aren't an issue, but current problems may lead to the application being denied."
Equipment leasing allows companies to conserve capital while overcoming budget limitations. Companies guard against obsolescence when equipment leasing is chosen and leasing reduces the impact of inflation. "If your company finds itself in need of equipment financing, look no further than NHBS Inc. as we offer a wide range of programs for businesses of all sizes and types," Mr. Tiemann declares.
About NHBS Inc
NHBS Inc. offers equipment leasing, vendor programs and working capital for companies in need of new equipment. A wide variety of programs are available for those with A-D credit and registered vendors may offer quick credit approvals with flexible credit guidelines for start up or established companies. NHBS Inc. offers business loans, accounts receivable financing and a factoring program making use of company credit card transactions. The goal of NHBS Inc. is to find the solution that works best for each client.
Copyright © 2005-2013 - SBWire, The Small Business Newswire - All Rights Reserved - Important Disclaimer
Contact Us: 888-4-SBWIRE (US) - 920-321-1250 (International)