How Equipment Financing Credit Decisions Are Made

There are many equipment financing companies to choose from throughout the US and Canada. They all have similar but not necessarily the exact same way of looking at borrowers. They range from credit focused,  challenged credit, collateral driven, start-ups and even those that specialize in municipal equipment buyers. Whatever their niche, they generally look to these 5 credit measures in common to make yes/no credit decisions: Cash Flow – All lenders want to make sure…

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What every business needs to know about PayNet

PayNet is a business credit reporting agency with a database containing over 22 million contracts from small business loans, leases, and lines of credit. You cannot purchase reports, the business must call and request a copy. PayNet MasterScore® v2 – This lending score ranges from 550-740 with the higher score reflecting a lower risk borrower. Lenders will use this score to predict the risk potential of borrowers. They use 587 variables and 135 unique variables…

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