top of page

Our #1 Financing Question

“How much money do I have to put down?”


Our answer: $0.


On average, two thirds of the loans funded with the help of Priority One Equipment Finance are approved with no money down.

But getting a loan for your business isn’t always as cut-and-dry as we’d like it to be. There are many nuanced situations and characteristics that dictate if you can get a loan, what type of loan is appropriate, and what terms are associated with that loan.

One thing is always certain: you, as a business owner, want to maximize your money. That usually means you want to keep your cash, rather than spend it on something like a down payment. Thankfully, you often don’t have to put money down to secure a loan for your equipment. Lenders have several tactics for determining if you qualify for a $0 down payment. The two most frequent qualities we see lenders looking for are:

  1. At least 2 years in business, and

  2. A credit score at or above 700.

A combination of these two factors will mean you most likely qualify for a zero-cash-down loan, but as we mentioned at the top of this article, it’s no one-size-fits-all. Leveraging an F&I partner like Priority One to determine the best lender and terms for you will maximize your position for securing a loan with no money down.

Talk to one of our finance managers today to see what options work for your business.

Related Posts

See All

Comments


Learn how Priority One can help your business grow.

bottom of page