Often times, a bank may not consider a business for financing if it has less than two full years of operations. Typically, the only lenders that will provide financing to start-up businesses are those with a niche expertise in a particular line of equipment or industry. Therefore, if you are a new business owner, leasing may be your best and most competitive option for acquiring your new equipment!
Start-ups and those with less than 2 years in business typically need a 10-20% down payment, whereas existing businesses oftentimes qualify for 100% financing.
If you are just starting your business and would like to apply for a lease, please complete our online lease application or start-up business plan. Please contact your Boom Truck Financing representative for additional details.