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Businesses with bad credit have traditionally been denied access to equipment leasing loans that would help them grow and expand. LeaseQ introduces an innovative new lending option designed to circumvent that problem.
Boston, MA (PRWEB) November 15, 2012
LeaseQ, one of the leading providers of equipment leasing and financing options in the United States, is pleased to announce new lending sources and business options that are designed to assist businesses and organizations with less than stellar credit ratings.
What is known as a bad credit business loan may be a crucial factor for any business that is looking to move forward, as it allows for the purchase of equipment needed for expansion.
Equipment is one of the largest expenses for any business, changing the way the business operates, improving efficiency standards, as well as increasing the customer base that the business is able to serve. It is also a benefit that may be hard to come by if credit ratings are negatively compromised.
Bank loans for the purpose of purchasing equipment may be quite costly and difficult to repay, and many lenders limit the availability of such loans to those with high credit ratings. LeaseQ is providing options for businesses in this area by providing business loan options aimed specifically at those businesses who may have had credit problems in the past.
There are a number of benefits to be found in bad credit loan options:
Another benefit of the bad credit business loan is the repayment structure. With traditional loans, there are fixed payments every month, which can be limiting whenever there is a lull in business. Bad credit business loan repayments are designed for higher payments when sales are higher and correspondingly lower payments when sales drop. It is designed to accommodate the ebb and flow which is a natural part of doing business.
Of course, there are some requirements, with a business needing to provide some projected sales figures, usually around $5000 worth of Visa or MasterCard transactions every month or $10,000 gross sales. In cases such as this, approval is usually granted within 24 hours and the funds in hand within 7 days.
Based in Boston MA, LeaseQ is one of the leading providers of equipment leasing and financing in the country.
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