How to Get Bad Credit Equipment Financing

As you have likely experienced, trying — and failing — to get bad credit equipment financing is one of the most frustrating vicious cycles on the business landscape.

On the one hand, you need to upgrade or purchase new equipment in order to generate revenues and profits, open accounts, pay your bills, and ultimately strengthen your credit score. Yet on the other hand, banks won’t give your loan application a second look unless you have exceptional personal and business credit scores.

In the past, business owners stuck in this dilemma typically had to scale back their business, sell it ASAP, or shut it down. Fortunately, that is no longer the case, because “bad credit equipment financing” is no longer a contradiction in terms. Rather, it is a solution that we enable every day for business owners across the country.  

The Back Story

Most business owners — and all of the successful ones — are wary of promises and claims that seem too-good-to-be true. And at first glance (and maybe at second and third as well!), you may be wondering “what the catch” is. After all, there must be a reason why we provide bad credit equipment financing, and banks won’t even consider them.

First of all: healthy skepticism is extremely valuable and always profitable, and we welcome the chance to transparently share why we offer bad credit equipment financing: because the vast majority of our loans are SUCCESSFUL. After all, we’ve been in business for several years, and we’re constantly growing. If we weren’t good at what we do, we wouldn’t be here.

And what we’re very good at — if we do say so ourselves — is understanding that credit scores are not, and never will be, the best or only way to evaluate a business owner’s credit worthiness. There are many other variables and factors to consider. In our view, the most important question to ask isn’t what a business owner has done in the past, but rather, what they’re doing today and what they have planned for tomorrow.

When we shift the focus from the past to the present and future, we change the approval paradigm — and that means bad credit equipment financing is no longer out of reach. In fact, since we approve about 90% of all business loan applications, the chances of getting a “yes” from us is very likely.

The bottom line? We know that some of the most talented business owners happen to have impaired or bad credit. And being part of their success story isn’t just rewarding, but simply put: it’s great business!

To learn more, contact our team today. Discover how straightforward and stress-free it can be to get bad credit equipment financing, and put your business on-track to thrive for years and decades to come.  

About the Author, Megan Capobianco
Megan Capobianco is the Marketing Manager at National Business Capital. Megan is passionate about helping business owners along their journey - providing them with relevant content they can use in their day-to-day operations.