Have you tried and failed to get bobcat financing or skidsteer financing in the recent past due to credit issues? Many business owners deal with this problem, especially when business slows down and it’s hard to pay bills on time. Fortunately, just because you’ve been turned down by one or more lenders before, that doesn’t mean First Capital Business Finance will turn you down. We regularly offer equipment financing bad credit options that help business owners like yourself get financing.
Of course, your ability to get approved for one of our financing programs depends on various factors, including how bad your credit score is, what your business bank statements look like, and how expensive the piece of equipment you’re trying to finance is.
The thing that makes us unique from some other lenders is that we genuinely want to help business owners succeed. We recognize that without the equipment you need, you’ll have a hard time boosting your profits and your credit score. That’s why we proudly offer financing that’s specifically intended to help clients with imperfect credit obtain the equipment necessary to thrive.
Our Bobcat Financing Process
Our clients often want to know what they can expect when they reach out to us for bobcat financing. While some lenders require all financing applicants to fill out stacks of paperwork, we try to minimize the paperwork requirements for our financing solutions. You’ll find that you only need to fill out very little paperwork when financing most loaders and other types of equipment.
As quick and easy as our financing process is, we recommend our “application only” process if you want to experience the fastest and easiest approval process. We’ll only need the following documentation when you apply:
- Bill of sale or invoice for the equipment you want to acquire
- Credit application (don’t worry, it’s just one page long!)
- Business bank statements if you can provide us with them (we only need three months’ worth)
In addition to these basic items, we may need to see a few more pieces of documentation, depending on the situation. If you have any questions about exactly what we’ll require for your application, please get in contact with us. We want to make the process as easy and stress-free as possible and be happy to answer any questions or concerns.
Once you submit all of the documentation required to apply for skidsteer financing, you’ll only have to wait 24 to 48 hours to hear back. Once you’re approved, we’ll provide you with paperwork that clearly shows all the terms of our financing agreement, so there’s never any confusion.
What You Should Know About Bobcat Financing and Bad Credit
Many of our clients come to us because they have bad credit but still need bobcat financing. If your credit below 500 or if you have multiple collection accounts and judgments, you should know that getting the financing you need may be more difficult, but it might still be possible.
If applicants have very bad credit profiles, we sometimes extend financing if the applicant chooses to use collateral as leverage. This may not be the right solution for everyone, so it’s important to consider all your options before going this route. But if you decide to use collateral (that doesn’t have a lease or loan on it) and decide that the collateral qualifies you for our program, you may still be able to finance the equipment you need through our equipment financing bad credit program.
What Might Happen if Your Credit Is Above Average
If your credit isn’t perfect, but above average, your situation will be slightly different if you had very poor credit. It may seem unfair, but sometimes big banks will refuse to finance unless your credit is perfect or very close to excellent. If this happens to you, don’t worry. You have a great chance of getting approved through our bobcat financing program. We enjoy offering financing solutions to businesses that have experienced the sting of rejection elsewhere. Our A through D financing options provides hope to businesses with all types of credit histories.
Apply for Bobcat Financing Today
Today is a great day to apply for bobcat financing so you can get your hands on the equipment your business needs to continue growing and experiencing success. If you’re ready to find out if you qualify for one of our bobcat or skidsteer financing options, we’re prepared to help you through the application process. Contact us today to get prequalified for your loan.
How To Buy a Skidsteer Loader With Bad Credit | First Capital Business Finance