Information
At TCB Equipment Financing and Leasing Corporation, we understand that navigating the world of equipment financing and leasing can be complex. We've compiled answers to the most frequently asked questions to help small business owners like you make informed decisions. Let us assist you in securing the financing that fits your budget and needs.
Frequently asked questions
Here, you'll find answers to common questions and debunked misconceptions about equipment financing and leasing. As a relationship-driven loan broker located in Chester, Virginia, TCB Equipment Financing and Leasing Corporation, we provide straightforward, accessible guidance to small businesses. We specialize in finding solutions tailored to your unique circumstances.
What is an equipment loan?
An equipment loan is a type of financing used to purchase or lease equipment for your business. It allows you to acquire the necessary tools to grow without depleting your working capital. At TCB Equipment Financing and Leasing Corporation, we help you find the best loan options based on your budget and business needs.
What details should a small business owner have ready when exploring equipment financing or leasing?
To expedite the process, please prepare the following financial snapshot:
- Recent bank statements (last 3 months, 6 months for seasonal businesses)
- Profit & Loss and balance sheet (most recent month, year-to-date, and last fiscal year)
- Business and personal tax returns (1-3 years, as available)
- Owner personal summary (credit score range, major liabilities, bankruptcy history, if any)
Lenders evaluate cash flow as strongly as credit when underwriting equipment deals.
What are some common misconceptions small business owners have about equipment financing or leasing?
One common misconception is that you need perfect credit to qualify. While credit score is a factor, TCB Equipment Financing and Leasing Corporation prioritizes assessing your business's cash flow, industry dynamics, and equipment use.
What makes TCB Equipment Financing and Leasing Corporation different when answering these questions compared to other lenders?
TCB Equipment Financing and Leasing Corporation is local, relationship-driven, and focused on underwriting. We prioritize assessing your business cash flow, industry dynamics, and equipment use instead of relying only on credit score. We specialize in helping small businesses obtain a loan that fits their budget.
Get a quote
Ready to take the next step? Contact TCB Equipment Financing and Leasing Corporation today to explore your equipment financing options. Our team in Chester, Virginia is here to help you find the perfect loan solution that meets your business needs and budget. We understand the unique challenges faced by small businesses and strive to provide personalized service and support.
