Are you trying to finance a Bobcat or skid steer loader but you have bad credit?
Are you in need of financing for a Bobcat or skid steer loader but have been facing challenges due to bad credit? If you’ve been turned down by lenders in the past, don’t lose hope just yet. At First Capital Business Finance, we understand that having bad credit doesn’t mean you should be denied the opportunity to finance essential equipment. In this article, we will provide you with valuable information about how you can still secure financing, regardless of your credit situation. We believe in helping business owners like yourself to succeed, and we have tailored financing solutions to meet your specific needs.
Overcoming Bad Credit:
If you’ve experienced rejection for financing a loader due to bad credit, you’re not alone. Many clients we’ve worked with assumed that their credit history automatically disqualified them from obtaining financing. However, this is not always the case. There are often options available that clients are unaware of. Recently, one of our managers spoke to a business owner who had been told by a major bank that he didn’t qualify for loader financing. After further investigation, we discovered that the bank had turned him down without providing a clear reason. It’s astonishing how consumers assume that a few blemishes on their credit report make them ineligible for equipment financing. The truth is, there are possibilities even for those with less-than-perfect credit.
Options for Financing with Bad Credit:
Suppose your credit score falls below 500, you have a tax lien, multiple judgments, and collection accounts, and traditional sources of funding are not available to you. In that case, there is still hope. Our financing programs consider alternative collateral that is not leveraged, meaning it doesn’t have an existing loan or lease attached to it. If you have such collateral, and it meets the requirements of our program, you may still be eligible to finance the equipment you need.
Not Just Perfect Credit:
Perhaps your credit isn’t terrible, but it’s not perfect either. You may have been denied skid steer financing by a bank due to a minor flaw on your credit report, even though you have above-average credit. At First Capital Business Finance, we have financing options that cater to a wide range of credit profiles. Even if you fall into the “B” credit category, we have a home for you. Don’t let one small credit issue prevent you from obtaining the financing you deserve.
The Financing Process:
We understand that your time is valuable, which is why we strive to make our financing process as efficient as possible. When applying for bobcat financing, you’ll be pleased to know that minimal paperwork is required. Our “application only” process ensures a quick and straightforward approval process. Here’s what we typically need from you:
Credit application (just one page)
Three months of business bank statements (if available)
Invoice or bill of sale for the equipment you wish to acquire
Depending on your unique situation, additional documentation may be required. To obtain specific details, please reach out to our office. After submitting the necessary documents, you can expect to receive the financing terms within 24 to 48 hours. If you have any questions about our other equipment financing programs, feel free to contact us at 888-565-6692.
Bobcat Financing and Bad Credit:
If you have bad credit, you might be wondering if you can still secure bobcat financing. Even if your credit score is below 500 or you have multiple collection accounts and judgments, there may still be options available. In certain cases, we consider financing applicants with poor credit profiles if they choose to use collateral as leverage. While this solution may not be suitable for everyone, it’s worth exploring all available options before making a decision. By utilizing collateral that doesn’t have an existing loan or lease, you may still have the opportunity to finance the equipment you need through our equipment financing bad credit program. We understand the challenges you face and are here to provide you with a solution tailored to your unique circumstances.
Above Average Credit:
If your credit falls into the above-average range, your situation is different from those with very poor credit. It’s not uncommon for major banks to decline financing based on one minor flaw on a credit report, even if there are numerous positive tradelines showcasing your good payment history. However, at First Capital Business Finance, we believe in giving businesses a chance. Our bobcat financing program offers hope to businesses with various credit histories. Whether you have excellent credit or fall into the “B” credit category, we have financing options available to accommodate your needs.
Apply for Bobcat Financing Today:
There’s no better time than now to take the first step toward obtaining bobcat financing. We understand that acquiring the necessary equipment is crucial for your business’s growth and success. To determine if you qualify for our bobcat or skid steer financing options, reach out to us today and begin the application process. We’re here to guide you through the process and help you get prequalified for your loan.
At First Capital Business Finance, we firmly believe that bad credit shouldn’t hinder your ability to finance a Bobcat or skid steer loader. We’re dedicated to providing financing solutions that cater to business owners facing credit challenges. Whether your credit is less than perfect or above average, we have programs designed to help you obtain the equipment you need. Our streamlined application process and flexible options ensure a hassle-free experience. Don’t let bad credit discourage you from achieving your business goals. Contact us today and let us assist you in securing the financing you deserve.
How To Buy a Skidsteer Loader With Bad Credit | First Capital Business Finance