Some equipment financing companies may approve a credit score as low as 500. Credit history is just one piece of the lender’s decision-making process. Other factors include the size of your down payment, how long you’ve been in operation, your company’s annual revenue and any additional collateral you can offer for more security.
Keep in mind that a higher credit score can unlock better rates and more flexible repayment terms. If you have time, try boosting your credit score before applying for equipment financing.