Page last updated Nov 13, 2008 @ 06:23pm
Use our one page Lease Application to apply by fax. Just download the MS Word document by clicking the link below. Print the application on your printer. Complete and sign it. Fax the application back to us at (775) 860-3571. Your application will be immediately processed. A form outlining your terms and rates will be faxed or e-mailed to you. Upon your approval, a contract will be generated and transmitted to you for execution. Once an authorized contract is returned, we will call you to confirm delivery and acceptance of the equipment. It is that simple. We suggest you review the Credit Guidelines below before submitting an application to determine the likelihood of approval.
Left click the following link to view the application in your browser. Right click the link to download the application to save it on your computer for future printing and/or completion.
Credit Guidelines for Leasing
The following guidelines are generally used to determine eligibility for lease approvals. Review this list to see if you are likely to be approved before submitting an application.
- The lessee must be in business a full 18 months.
- The bank reference must be a commercial checking account under the name of the
credit applicant with an average balance equal to at least half the equipment cost.
- Our leasing firm prefers three trade references with credit extended by each
reference equal to or exceeding the monthly lease payment.
- For credit applications with an equipment cost over $25,000, a complete and
fully executed credit application and the last two years of audited corporate
financial statements plus any interim statements is required. We do not need
credit applications from publicly held corporations--only the financial statements.
- If the company does not have audited financial statements, the last two years
of unaudited financial statements plus the corresponding signed Corporate Federal
Tax Returns can be accepted.
- With respect to closely held-corporations (any single shareholder owning 20%
or more of the company stock) the last two years of signed Personal Federal
Tax Returns and a signed Personal Net Worth Statement from the President or
primary stockholder is also required. The need for this information and the
corresponding personal guarantee may be waived for strong credits that have
been in business five years or more. All Sub-Chapter S Corporations will require
a personal guarantee.
- The Personal Data section on the credit application must be completed by a
credit applicant that is a proprietorship, partnership, closely held corporation,
or any corporation that is less than three years old.
- The nature of the business is an important consideration in the decision making
process. Businesses with historically high success rates are obviously preferred
credits. However, those businesses with a high risk of failure are less desirable
credits and may be approved, but with certain restrictions such as limited term
or purchase options.
- All credit approvals are valid for 90 days. Please call if an extension to a credit
approval is needed.
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