|
CU Lease Plans Home |
|
 |
|
 |
Apply | |
 |
The information required to apply for an equipment lease is based on the dollar amount of the lease. Generally speaking, equipment leasing for small businesses may be broken down into two (2) categories, small ticket and mid-ticket. EQUIPMENT LEASING CHECKLIST A. Small Ticket equipment costing $10,000 to $35,000: CU Lease Plans requires a signed Equipment Lease Application on all size transactions. Simply download the attached Adobe PDF document, fill it out completely and fax it to CU Lease Plans at 602-944-4417. B. Information required in addition to the above for Mid Ticket equipment costing over $35,000: 1. Two (2) year-end business financials including both the income statement and balance sheet and all notes. 2. Comparative interim statement if the year-end is more than six months old. 3. Two (2) years of business tax returns. 4. Two (2) years of personal tax returns for each personal guarantor. 5. A current personal financial statement for each personal guarantor. GENERAL CREDIT PARAMETERS In general, the items considered by CU Lease Plans include the following: A. Business: 1. Length of time in business. 2. Commercial credit reports (D&B, TRW Business, Business Credit USA, etc.). 3. Bank and trade references. 4. Type of business and how the equipment will be used. 5. Management history, including prior business experience. 6. Size of the business, including the number of employees. 7. Financial strength of business. 8. Legal structure of business. B. Principals: 1. Principal guarantees required on all closely held corporations. 2. Credit bureau reports must indicate a satisfactory credit history. C. Equipment: CU Lease Plans may limit soft costs included in a lease such as software, installation and freight. CU Lease Plans is not able to offer leasing on boats, planes, GPS, gaming, adult entertainment, leaseholds or fad equipment. D. Industries: Leasing may not be available for some industry segments. Click here to download an application! Phone For Quick DecisionFor fast approvals or if you have questions about leasing, give us a call at 866-325-4411.Back to top
|
Phone For Quick Decision
|
|
|
||
| Leasing Q&A | Apply | CU Partners | About Us |
|
|
|
||