Having good credit is NOT necessary for equipment leasing. But many business owners ask us all the time what they can do so that next time they qualify for things like unsecured business loans that generally require a 720 credit score. So here are the tips we give them. Having good personal credit is even more important these days as corp only financing is drying up. Or if the bank will do a corp only lease (meaning no personal guarantee required) they still want to pull the owners’ credit (on closely held companies) and if the credit is bad, they won’t do it without a personal guarantee.
In the video we reference a professional credit repair company we refer our clients too. They provide not just credit restoration help but a lot of financial tools our clients have found useful
The bad credit business credit card we mention is offered by Applied bank and you can find it here:
You can find a great secured credit card that will allow you to put up to $5000 on it here: what is great about this card is that you can open it with $200 and add to the security deposit over time up to $5,000