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Financing Commercial Equipment With No Tax Returns

1/24/2020

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Most people are used to walking into a bank, showing tax returns, banks statements, and other financial documents to get a loan for a home or maybe even a car.  In commercial financing, time is money.  Gathering and underwriting tax returns takes times and the buying emotion can turn cold while bankers wait for people to gather financial statements.  This is why most commercial equipment lenders like to finance individual pieces of equipment on an "application only" basis.  It's what vendors want. It's quicker and people maintain their interest longer.  Using an application only to make a credit decision means that the bank must rely heavily on the applicant's individuals personal and commercial credit.  No commercial credit?  Issues on the personal credit?  Sometimes you can still get buy without showing financial statements but sometimes you can't. In these situations, tax returns or bank statements may strengthen weak credit, so don't neglect this idea. Generally application only programs have limits of $150,000 purchases up to $400,000 equipment purchases depending on if you have the commercial credit to support it. 

Please leave questions in the comments or email me at spencer@trustalliancecapital.com
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    Spencer Sessions​

    Commercial Financing Specialist
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About Us 


Trust Alliance Capital  has been serving commercial customers' financing needs for over 15 years. Currently holding an A+ rating with the Better Business Bureau. Our expertise in commercial equipment financing, SBA/USDA loans, and commercial real estate will help you move forward in your business. 

Whether you have pristine financials and credit or have seen some challenges, Trust Alliance Capital  can help you get there.
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