Nowadays, some lenders will offer business equipment financing to owners with bad credit, although the terms and rates may not be as favorable as those offered to borrowers with good credit. If you have bad credit, you may need to provide more information about your business‘s financial history and current situation. Make sure to shop around and compare different lenders terms to find the best deal for your business.

What types of terms can I get Business Equipment Financing with Bad Credit?

 Generally, when applying for business equipment financing with bad credit, lenders may offer shortterm loans with higher interest rates, longer repayment terms, and potentially higher upfront fees and collateral requirements. Lenders may also offer merchant cash advances or invoice factoring to businesses with bad credit. Additionally, some lenders specialize in bad credit business financing and may offer flexible terms regardless of the borrower‘s credit score.

Nothing is stopping you! Apply today for a business loan and get the equipment you need to boost your business.