Credit Guidelines

The following grid, based on transaction size, outlines the minimum credit standards we follow when considering lease applications from approved brokers. Trade references will be considered at the credit analyst's discretion. Ultimately credit is the most important factor in determining whether your request can be funded. In the majority of cases this involves business credit as well as the personal credit of your organization's principals.

Personal Credit:

We strongly encourage our clients to check their personal credit prior to application for a loan or lease. Errors made by CBI's (credit bureau investigators) have become common place and it is the responsibility of the consumer to make sure that this information is correct. In most states you are entitled to a free copy of your annual credit report to insure accuracy.

Business Credit:

Your company's business credit will be checked in the following areas:

Bank References- The lender will want to see evidence of sound financial management. This is demonstrated by the absence of company checks returned NSF (bounced) and a respectable average bank balance.

Trade References- Another source of information is the opinions of those companies which do business with your organization. Any lender will want to see that the vendors that extend credit to your firm have been paid promptly. Unfortunately we have some clients come to us after several denied leasing requests. The insult to injury comes to light when it is discovered just how many times their business and personal credit reports have been pulled. This can result in a fund-able deal becoming temporarily undoable. Our advice:

Whatever you do, do not allow any more credit pulls and in the case of a startup this would include your personal credit. In most states you are entitled to a free copy as a result of credit denial and you would need to contact the company that denied your request and find out which credit repository was used to make the credit decision.

Contact us to discuss the situation in depth. Many times things are still salvageable and there may be some options left open. In a worse case scenario the acquisition may need to be delayed by a few months to allow the inquires to drop off.

*If you are interested in finding out how Cybertech Leasing can assist you in the acquisition of software please call us Toll-Free