General Credit
Guidelines
- Business leasing only
ABEL
does not provide consumer credit services
- Normal
minimum time in business is two years, but programs are
available for start-ups
- Your
customer should have a business phone number & bank
account, as well as two business trades or references
- If the
company is small or closely held, the business owners
must have reasonable credit and personally guarantee the
transaction (personal guarantee waived if time in
business exceeds five years and the company and
principals meet specific financial conditions)
- If the
equipment cost is $75,000 or less, ABEL only
require a completed application
- For
transactions $75,000 to $150,000 ABEL will
require a simplified financial package: last years' tax
returns, most recent company interim statement, and
owner's personal financial statement.
- For
transactions over $150,000 ABEL will require a
full financial package: three years financial statements
and/or tax returns, most recent interim statement, and
owner's personal financial statement
- No vendor
recourse or vendor financial support under our standard
vendor programs |
